Replay Monday’s Webinar
Did you miss Monday night’s webinar? Catch up by watching it here.
TPG Telecom – Buy Signal
TPG Telecom is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
We see price support near $7.00 and suggest watching the short-term momentum indicators for a turn higher.
Register for Tonight’s Webinar
Leon will once more host a live webinar, reviewing the opportunities in review.
To receive the live link, please register here.
The webinar will start at 7pm NSW time.
Afterpay – Tencent Buys 5% Stake
Chinese gaming and social media group Tencent Holdings has bought a 5per cent stake in Afterpay Ltd. The stake was built from the end of March through April, a filing to the Australian Securities Exchange showed.
Origin – $4.50 Support
Origin and Santos are worth considering with a stop loss below the recent low.
James Hardie – Algo Buy Signal
James Hardie Industries is under Algo Engine buy conditions.
The share price has formed a higher low formation and rallied from the $17.50 support level.
US Markets
A strong performance from Amex and ConocoPhillips overnight, both names are current holdings in our US managed fund.
We continue to watch the NASDAQ for a break below the current uptrend, at which time we’ll increase index hedging.
Lendlease – Gearing Falls
Lendlease announced a raising of up to $1.15bn $9.80 per share.
The equity raising comprises a fully underwritten $950m institutional placement, along with up to $200m via a non-underwritten SPP. With the proceeds from the placement, liquidity will increase to $4bn and company gearing will fall to 10-15%, (assuming completion of the sale of the Engineering business).
A correction in commercial real estate will provide new opportunities for Lendlease but will also ensure a tough operating environment in the near-term.
Northern Star – Weak Production Numbers
Northern Star Resources March quarter production was weaker than market expectations. COVID-19 had an impact with reduced staffing slowing development and impacting mine schedules.
NST is confident the initial disruption to operations has passed and is expecting a stronger June.
We look to buy NST below $12.50
Last Night’s Webinar – Replay
Level 17 Chifley Tower
2 Chifley Square
Sydney, NSW 2000
1300 614 002
Investor Signals Pty Ltd
ABN 44 143 555 453