Newcrest Mining remains under Algo Engine buy conditions. NCM has reported an in-line 1QFY21 result with group production of 503koz.
The company expects an improved production performance in 2Q.
We suggest investors accumulate NCM above the $29 support level.
Since writing the above post NCM has bounced off the $29 support level and is now trading at $30.64. The momentum indicators continue to trend higher.
iShares Global Healthcare is under Algo Engine buy conditions and we see price support building near the current $96.50 level.
IXJ has rallied from the $96 support level and we see continued long term growth for the ETF.
APA is under Algo Engine buy conditions and we see support building at the recent $10.50 higher low formation.
APA has now rallied to $11.13 and goes ex-div 23c on 30 December.
After recently taking profit in the CURE ETF, we again add the name back onto our watchlist and identify the range where we expect buying support to rebuild.
Buy $58.50 target.
Separate to the above opportunity, we see upside in the large-cap biotech stocks in the US. In particular, we like Abbvie, Biogen, Gilead, Johnson & Johnson, Merk, and Pfizer.
If you’d like to discuss setting up a US broking account with Investor Signals, please call me on 1300 614 002.
Since writing the above post CURE has rallied 5% and the large-cap biotech names were among the best performers overnight in the US.
Biogen rallied 44% overnight. This is a holding in our US high conviction portfolio.
Buy TPG Telecom above the $7.00 support level.
Brambles is under Algo Engine buy conditions and is a current holding in our ASX model portfolio.
Brambles provided a trading update for the 1Q FY21 revenues, which were up 5% on the same time last year.
Underlying profit on a constant currency basis is expected to be around +3% to +5%. This supports the FY21 yield of 2.9% and FY22 3.3%.
Commentary from the TLS chairman today suggests a strong desire to maintain a 16cps dividend, through to 2023.
Gold has been under selling pressure from recent USD strength and yields on the US10YR treasuries moving higher. These factors are now largely priced in and we expect to see firmer gold prices over the coming months.
GDX should see increased buying above the $51.50 support level.
OceanaGold is under Algo Engine buy conditions.
Newcrest and Gold Road remain our preferred allocations, although Oceana Gold offers among the best long-term production growth opportunities through the Haile, Waihi and Golden Point mines.
The 3QCY20 operational result was weak, compared to market expectations with short-term production below estimates. The soft quarter was largely driven by impacts of exceptional rainfall and Covid-19 staffing related matters at Haile.
BetaShares Global Banks is our preferred bank exposure. Taking a global perspective and holding an overweight allocation to JP Morgan provides a low-risk profile and potentially greater upside.
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