Facebook – Algo Sell

NYS:FB is under Algo Engine sell conditions.

We’re seeing falls in daily usage but global growth in overall user numbers continues to increase.

The company warned about the impact from Apple’s privacy changes and called the latter a “significant competitor.” Recent trends suggest slower growth in its advertising business and we may see lower revenue numbers in the second half of 2021.

We will be watching Google/Alphabet numbers when they report later this week.

Resmed – Support Level

ResMed is under Algo Engine buy conditions and is now up 84% since being added to our model in October 2018.

RMD delivered a solid earnings result and upgrades to earnings are partially offset by the stronger AUD.

RMD is looking to resume share buybacks in 2H21.

We see buying support at $26 and suggest investors look to accumulate the stock.

NCM – Buy

Newcrest Mining is under Algo Engine buy conditions and we see buying interest increasing as the “risk off” trade builds momentum.

Newcrest delivered a decent quarter in terms of production at all sites but costs were significantly higher than expected.

Buy NCM $25.50 on valuation grounds.


GDX Gold ETF – Buy

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 $44, we’re now seeing buying interest rebuild.

As a final confirmation, wait for the price action to trade above the 10-day average and the short-term momentum indicators to turn higher.

GDX Gold ETF – Buy

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 $44, we’re now seeing buying interest rebuild.

As a final confirmation, wait for the price action to trade above the 10-day average and the short-term momentum indicators to turn higher.