BlueScope Steel earnings have been upgraded across all segments, which have seen strong volumes and improving steel spreads in Australia and the US.
BSL expects to report 1H21 EBIT of A$530m. The stock has switched to Algo Engine buy conditions and we see support building within the $14.50 to $16 price range.
Sonic Healthcare is under Algo Engine buy conditions and is up 20% since being added to our model in February 2020.
We anticipate further EPS upgrades when Sonic reports 1HFY21 earnings on 18 Feb.
High single-digit earnings growth supports the 3.6% forward dividend yield.
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.
Qube Holdings is under Algo Engine buy conditions and we see price support at $2.50 – $2.70.
December container volumes continue to improve, up 7.2% on the same time last year.
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.
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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.
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.
APA is under Algo Engine buy conditions and we see buying support building, as the price action crosses above the 10-day average.
ASX is under Algo Engine buy conditions and is now likely to find buying support.
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