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.
iShares Global Healthcare is under Algo Engine buy conditions and we see price support building near the current $96.50 level.
Vaneck Vectors Gold Miners is under Algo Engine buy conditions.
GDX provides broad exposure to the leading global gold producers. After the recent sell-off from $65 down to $51.50, we expect to see buying support begin to rebuild.
Ansell is under Algo Engine buy conditions and is a current holding in our ASX model portfolio.
ANN has upgraded its FY21 EPS guidance to US$1.35‐ US$1.45, implying 10%+ growth on the prior year.
ResMed is under Algo Engine buy conditions and is a current holding in our ASX model portfolio.
Resmed reported better than expected 1Q21 earnings with group revenue up 10% and NPAT up 37% on the same time last year.
At 35x PE Resmed remains expensive and will need to maintain double-digit earnings growth to sustain the current valuation.
Buy on future share price weakness.
The chart below shows the range where we will be watching for the short-term momentum indicators to turn higher.
Fortescue Metals Group is under Algo Engine buy conditions and is one of the top performing stocks in our ASX model portfolio.
QFY21 result was strong with shipments, realized prices and cash costs all beating analysts estimates. Strong iron-ore prices should continue to drive strong share price performance for FMG.
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 or watch the short-term indicators for a reversal higher.
APA is under Algo Engine buy conditions and we see support building within the $10 to $10.50 price range.
Watch the short-term indicators for a turn higher.
Vaneck Vectors Gold Miners is under Algo Engine buy conditions.
GDX provides broad exposure to the leading global gold producers. After the recent sell-off from $65 down to $51.50, we expect to see buying support begin to rebuild.
Level 17 Chifley Tower
2 Chifley Square
Sydney, NSW 2000
1300 614 002
Investor Signals Pty Ltd
ABN 44 143 555 453
Or start a free thirty day trial for our full service, which includes our ASX Research.