Mirvac – Buy
Mirvac is under Algo Engine buy conditions.
Buy MGR at market.
Sell on stop at $2.75 (break below recent pivot low).
Hold the trade open, as long as the price action remains above the 10-day average.
Mirvac – Buy
Mirvac is under Algo Engine buy conditions.
Buy MGR at market.
Sell on stop at $2.75 (break below recent pivot low).
Hold the trade open, as long as the price action remains above the 10-day average.
Our Gold Road Trade: 23.94% Gain
Gold Road Resources is now under Algo Engine buy conditions.
23/11 update: GOR has been sold from our ASX High Conviction portfolio, generating a 23% gain.
Our Pexa Trade Rallies 19%
Pexa Group has helped transform conveyancing from a clunky paper-based process into a digital one. PXA was recently listed on the ASX with a market cap of $3bn.
FY21 underlying earnings doubled to $110 million and analysts are forecasting a further 20% increase in FY22.
CBA & Link are major shareholders.
23/11 update: Our Pexa trade has been closed, generating a 19% return.
Crown – Our Trade Rallies 25%+
The current weakness in the Crown share price could be a buying opportunity. It’s unlikely that the current COVID-related operational impacts are going to deter the interested parties who have put forward takeover offers.
Continue to track the CWN share price and wait for a cross above the 10-day average.
12/8 update: CWN is now trading above the 10 day average.
18/10 update: Crown recovery continues, buy with a stop loss below $8.75
1/11 update: The recent move back down to $10 is likely to find renewed buying interest. We remain long CWN shares.
22/11 update: Crown has now rallied 25%+ since the trade was opened. As anticipated, Blackstone has pitched a new offer at $12.50 a share in cash, up from its previous bid of $12.30 in May.
Disney Algo Buy +48% Gain
Walt Disney Company (The) Common is a current holding in our US model portfolio and the stock is up 48%, since being added in Feb 2018.
The current sell-off provides another entry opportunity, although traders should wait for a cross above the 10-day average.
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
TWE – Buy
Treasury Wine Estates is under Algo Engine buy conditions.
TWE continues to adjust to a post pandemic/post Chinese tariff environment. FY21 EBIT of $510 exceeded market expectations. After a number of years of disappointment for TWE in this region, we see America’s division accelerating growth into FY22.
FY22 EBIT growth is forecast to be in the mid to high single-digit range.
8/11 update: Buy above the $11.50 support range and place the stop loss below the recent pivot low of $11.48.
18/11 update:
US High Conviction
Our US High Conviction portfolio had the following sell-side transactions.
TWE – Buy
Treasury Wine Estates is under Algo Engine buy conditions.
TWE continues to adjust to a post pandemic/post Chinese tariff environment. FY21 EBIT of $510 exceeded market expectations. After a number of years of disappointment for TWE in this region, we see America’s division accelerating growth into FY22.
FY22 EBIT growth is forecast to be in the mid to high single-digit range.
8/11 update: Buy above the $11.50 support range and place the stop loss below the recent pivot low of $11.48.
18/11 update:
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