Nickel Mines – Nickel Price Volatility
Nickel Mines is a nickel miner, and pig iron producer focused on several Indonesian projects in partnership with the world’s largest stainless-steel maker Tsingshan.
The share price fall is related to uncertainty regarding its JV partner Tsingshan. LME Nickel price volatility spiked, with prices doubling from $45/kg to >US$100/kg before trading was suspended. The news suggests a large nickel producer facing margin calls on nickel derivative losses caused a short squeeze due to Russian supply disruption and limited spot inventory. China’s Tsingshan is reported to be the entity with exposure.
Sonic Healthcare- Support Range
Sonic Healthcare is under Algo Engine buy conditions. The underlying earnings remain strong and we expect buying support to build within the indicated range.
Woolworths – Accumulate
Woolworths Group is under Algo Engine buy conditions.
WOW’s 1H22 result was in line with expectations, EBIT of $1,4bn, and management expects improved financial performance in 2H22 as the environment normalises.
Call 1300 614 002 to discuss our derivative overlay strategy.
Wesfarmers – Algo Buy
Telstra – Buy Signal
Telstra Corporation is under Algo Engine buy conditions and has now been added to our ASX model portfolio.
Aristocrat Leisure – Algo Buy
Aristocrat Leisure is under Algo Engine buy conditions.
Wesfarmers – Algo Buy
Woolworths – Accumulate
Woolworths Group is under Algo Engine buy conditions.
WOW’s 1H22 result was in line with expectations, EBIT of $1,4bn, and management expects improved financial performance in 2H22 as the environment normalises.
Call 1300 614 002 to discuss our derivative overlay strategy.
Sonic Healthcare- Support Range
Sonic Healthcare is under Algo Engine buy conditions. The underlying earnings remain strong and we expect buying support to build within the indicated range.
Level 17 Chifley Tower
2 Chifley Square
Sydney, NSW 2000
1300 614 002
Investor Signals Pty Ltd
ABN 44 143 555 453