Domino’s Pizza – Algo Signal
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.
ASX – Finding Support?
The chart below shows the range where we will be watching for the short-term momentum indicators to turn higher.
The price action now sits at 50% retracement of the March to September range. We expect to see buying interest begin to rebuild.
Sonic Healthcare – Buy
Sonic Healthcare is looking oversold and we believe buying support will build within the $31 – $34 price range.
SHL has a large percentage of its diagnostic equipment revenue based in US Dollars. As such, the company will benefit from the lower Aussie Dollar.
Coles – Buy
Coles Group looks to be creating another higher low formation at $18.30.
As the valuation becomes slightly stretched, we suggest investors add a covered call option to enhance the income return.
Transurban – Buy
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 $14.30.
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.
This could be a short-term trade for the nimble, or a solid entry-level for long-term buy and hold investors. Investors may also consider adding the covered call option to enhance the yield.
For more detail on the option strategy , please call our office on 1300 614 002.
Fisher & Paykel – Buy
Fisher & Paykel Healthcare Corporation is under Algo Engine buy conditions and is now consolidating above the $30 support level.
Investors should consider a buy-write strategy to enhance the income return. For more detail please call our office on 1300 614 002.
Sonic Healthcare – Buy
Sonic Healthcare is looking oversold and we believe buying support will build within the $31 – $34 price range.
SHL has a large percentage of its diagnostic equipment revenue based in US Dollars. As such, the company will benefit from the lower Aussie Dollar.
Ansell – Buy
Ansell is under Algo Engine buy conditions and we see support building within the $35 – $38 level.
Ansell – Support
Ansell is under Algo Engine buy conditions and we see support building within the $35 – $38 level.
Bega – Buy
Bega Cheese is under Algo Engine buy conditions and we see price support building at $5.00.
Watch the short-term momentum indicators for a turn higher.
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