Ansell – Trade
The Ansell trade from Monday night’s webinar is starting to build momentum. We entered the trade as a counter-trend position as the price action crossed above the 10-day average.
29/11/21 update: ANN remains above the 10-day average.
Portfolio Protection
Ansell – Trade
The Ansell trade from Monday night’s webinar is starting to build momentum. We entered the trade as a counter-trend position as the price action crossed above the 10-day average.
Little Green Pharma – Algo Buy Signal
Little Green Pharma is now under Algo Engine buy conditions.
Little Green Pharma is a pioneer and innovator in Australian-grown, manufactured and exported medicinal cannabis.
Aurizon – Value Play
Aurizon Holdings offers value and we expect buying support to build above the $3.35 support level.
Mineral Resources – Rallies 10%
Mineral Resources is under Algo Engine buy conditions and is in our ASX 100 model portfolio.
25/11 update: (ASX:MIN} has crossed the 10-day average and is now 10% above the entry-level.
High Yield Div Fund Gains 12.59%
US Interest Rates
The US Federal Reserve Fed funds rate is currently between zero and 0.25 per cent. QE is being reduced from $US120 billion to $US105 billion a month and then a further reduction to $US90 billion from Jan onwards.
Current market expectations are for the Fed to raise its cash rate from the record low 0.1 per cent level in 2023.
Iron Ore Trades @ $102.75
The price of iron ore rose 2.9 per cent to $US102.75. A relaxation of curbs on Chinese property developers, rising margins for steel producers, and signs that Chinese authorities will add fiscal and monetary support look positive for the commodity.
Woodside – Algo Buy
Woodside Petroleum is under Algo Engine buy conditions and is a current holding in our ASX 100 model.
Woodside is expected to issue almost 1 billion new shares to pay for the acquisition of BHP’s petroleum business under the $41bn merger deal. BHP shareholders will receive shares in WPL and we may see some overhang of selling for the market to absorb, however, we view the deal as a vote of confidence in the new merged entity, given BHP’s decision to merge their energy assets rather than pursue a cash deal.
- Woodside will acquire BHP’s oil and gas business in a proposed $41 billion merger deal
- The merger will relieve pressure on Woodside whose existing assets are depleting
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