Appen is under Algo Engine buy conditions and we now add the stock to our watchlist.
Appen Limited is a locally owned publicly listed company that derives revenue from the provision of data solutions and services for machine learning and artificial intelligence applications, utilised by government agencies, auto manufacturers and global technology firms.
Watch for the momentum indicators to turn positive within the $26 – $30 range.
Transurban switched to Algo Engine buy conditions on 30 October at $13.10. The stock has since rallied to $15.60 and has now retraced back 50% to find support at the current price of $14.00.
Investors should watch the short-term momentum indicators as we’re likely to see a pick up in buying interest, supported by an attractive defensive dividend yield.
Ansell is under Algo Engine buy conditions and we see support building within the $33 – $36 level.
APA is under Algo Engine buy conditions and we see support building at the recent $10.30 higher low formation.
APA goes ex-div 23c on 30 December.
Pro Medicus is now under algo engine buy signals after rallying 40% from the original buy signal back in July.
The current retracement from $35 to $29 means investors should be watching the short-term momentum indicators for a turn higher and apply a stop loss on a break below support or a turn lower in the momentum indicators.
For more detail on the strategy, please call our office on 1300 614 002.
Transurban switched to Algo Engine buy conditions on 30 October at $13.10. The stock has since rallied to $15.60 and has now retraced back 50% to find support at the current price of $14.00.
Investors should watch the short-term momentum indicators as we’re likely to see a pick up in buying interest, supported by an attractive defensive dividend yield.
Sonic Healthcare is finding buying support and we’re likely to see an improvement in the short-term indicators as the stock price stabilizes near the $32.50 level.
Altium is under Algo Engine buy conditions and is a current holding in our ASX model portfolio.
The momentum indicators have now turned positive and initial support looks to be in place at $34.75.
The A2 Milk Company is under Algo Engine buy conditions and we highlight the price support that may be in the early stages of building near the $13.50 level.
Watch for the short-term momentum indicators to turn higher.
Domino’s Pizza Enterprises is now under Algo Engine buy conditions and is a current holding in our ASX model portfolio.
We see price support between $65 & $71.
Domino’s Pizza Enterprises has now rallied 10% from our entry-level. While DMP’s PE multiple remains elevated at 34x forward earnings, EPS growth is forecast to be 8 -10% and the FY21 yield is 1.9%.
We suggest traders use the short-term momentum indicators as a strategy to manage the timing of taking the short-term. We don’t consider Domino’s Pizza Enterprises a core portfolio holding and feel it makes greater sense to trade rather than hold.
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