Long QUB.ASX

Posted on | by Leon Hinde | Leave a Comment on Long QUB.ASX

Long QUB.ASX

QUB

The market appears to be under heavy sell side pressure at present with Asian markets down almost 3% today, therefore, any buy side transactions carry added risk.  To combat this, reduce position size and/or leg into the trade in two transactions at different entry points. QUB has been on my radar and I’ve been waiting for it to pull back into the $2.25 level.

Tomorrow when the ASX resumes trading, start checking QUB out for an initial buy at or near the open.  Remember, ease up on the dollar allocation.

News on AMC.ASX

Posted on | by Leon Hinde | Leave a Comment on News on AMC.ASX

News on AMC.ASX

Packaging giant Amcor will take a hit of between $US170 million and $US200 million ($A227.49 million-$A267.63 million) in pre-tax profits over the 2017 and 2018 financial years, after announcing several measures to streamline its flexibles business.

Keep this one on your radar. It’s likely that a buy signal will occur  following the aggressive sell-side  response to the earnings news. This is a market darling and leveraged investors will be getting squeezed. An oversold condition will soon emerge and we expect to see a signal within the $14.25 to $15.00 range.

 

Long SEK.ASX

Posted on | by Leon Hinde | Leave a Comment on Long SEK.ASX

Long SEK.ASX

SEK

This is a difficult one to pinpoint the ideal entry level, so you may want to think about managing the entry price with two separate buy transactions. The momentum supports a bounce at or near the $14.50 to $15.00 range as an entry point. This will be a slow consolidation, followed by a bounce higher. Be patient, mange the entry price and SEK should deliver further upside momentum.

AUD/USD

Posted on | by Leon Hinde | Leave a Comment on AUD/USD

The string of weaker Australian economic data came to an abrupt stop this week as both the GDP and Trade Balance data printed better than expected. And while the internal components of the reports weren’t as strong, the AUD/USD has had a bid tone all week. Our trade suggestion is to sell into the rally.

AUD/USD

Posted on | by Leon Hinde | Leave a Comment on AUD/USD

The down move in the AUD/USD, which started on April 21st, doesn’t look as though it has run its course. Tuesday’s Building Approvals and Current Account data will be closely watched for a turn in the recent string of weaker data. Both sets of data are forecasted lower and it’s likely that last week’s low of .7140 will be challenged on “as expected” readings.