Uber Technologies is under Algo Engine sell conditions following a series of lower high formations since listing in May 2019.
The stock enters our radar as a potential for a short-covering rally. We expect weaker trading in the near-term but have set an alert to review the stock again should we see it trade below $25 per share.
Our call for NIB Holdings to find support and trade higher into the February earnings result is now gaining traction.
The price action found support at $6.60 and we expect to soon see a test of the $7.00 – $7.50 range.
{ASX:WPL) has recently shifted from buy to sell conditions.
Risks are now to the downside and we add WPL to the “short list” and begin to focus on the short-term momentum indicators, looking for a reversal lower.
APA is under Algo Engine buy conditions and is a current holding in ASX 100 model portfolio.
NOTE: APA has now rallied over $1.00 and investors can consider taking profit.
We’ve been tracking IPL for a turn higher in the short-term momentum indicators. It now appears that buying interest is increasing and we’ve seen the price action find support at $3.00.
SPDR S&P/ASX 200 Listed Property is under Algo Engine buy conditions and is a current holding in ASX 100 model portfolio.
We anticipate buying support will build within the $13 to $13.50 price range.
QBE Insurance Group is under Algo Engine buy conditions and is a current holding in ASX 100 model portfolio.
Support at $12.00
Evolution Mining is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
The backdrop should now support a rally in gold prices and EVN offers upside from the current $3.80 level.
The Star Entertainment Group is now under Algo Engine buy conditions following a recent high low formation at $4.55.
We’re attracted to the longer-term fundamentals for Star but have been reluctant to hold the position whilst the stock was under sell conditions. The recent break higher in price and the shift to Algo buy conditions, means we’ve added Star back into our model portfolio.
The February earnings result will be a key catalyst, where the market will be looking for earnings growth beyond just cost control.
Lendlease is under Algo Engine buy conditions and the recent retracement in price from $20 to $18 provides another entry opportunity.
We expect buying interest to increase between $16.50 – $18.00.
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