ALGO Buy Signal For Suncorp

Posted on | by Todd

Our ALGO engine triggered a buy signal for Suncorp into yesterday’s ASX close at $14.20.

This “higher low” pattern is referenced to the intra-day low posted on June 14th at $13.70.

Shares of SUN have dropped over 10% during the last month as the potential for fines and increased regulations from the Royal Commission have weighed on both banking and insurance stocks.

However, the technical picture is beginning to look oversold. As such, we consider SUN a buy/write opportunity near the key support level of $13.60.

Suncorp

 

 

 

 

ALGO Update: A Buy/Write Strategy For Cimic

Posted on | by Todd

Our ALGO engine has been long CIM since June 1st at $40.00.

Since then the share price has risen over 25% and traded at a 10-month high of $51.64 last week.

In addition to posting better-then-expected profit results back in July, CIM has also secured several mining services agreements including a recent $420 million contract extension with Antofagasta Minerals in Chile.

On balance, we see the stock trading in a high-level consolidation pattern over the medium-term.

As such, we consider CIM a buy/write candidate with reasonable upside potential and increased cash flow from the sold call options.

Cimic

Seek – Price Support At $20.50

Posted on | by Leon Hinde

Our Algo Engine generated a buy signal in Seek at $19.70 back in July.

With the current share price finding support, (at a new higher low formation), we see this as a viable buy-write opportunity.

June $22.50 call option will generate an additional $0.75 per share of income.  Seek goes ex-dividend $0.24 on the 26th of March.

 

 

Scentre Group – Now On The Radar

Posted on | by Leon Hinde

Our Algo Engine generated a buy signal in SCG going into Friday’s close at $3.97

The chart below shows the value range and SCG is now on our radar as a defensive buy-write strategy.

A combination of the 22 cent annual dividend and the option premium is generating 10 – 12% cash flow on an annualised basis.

Scentre Group

Buy Signal In Titomic

Posted on | by Leon Hinde

We draw your attention to the recent Algo Engine buy signal in Titomic.

Titomic was originally developed by CSIRO and has the world’s largest 3D printing facility using titanium.

TTT has the exclusive rights to a proprietary and patented process for the application of cold-gas dynamic spraying of Titanium.

The applications of this process have a broad spectrum including sporting goods, automotive and medical equipment, as well as, precision components for the aerospace and military sectors.

The company was listed on the ASX in September 2017 at 37.5 cents.

 

Titomic

ALGO Update: Stay Long Aristocrat Leisure

Posted on | by Todd

Our ALGO engine reflected a buy signal for ALL on September 14th at $28.90.

The share price is near the same level in early trade today.

However, with the recent acquisitions of Big Fish Games and Plarium, we expect to see an increase in the company’s USD-based earnings as it grows its position within the online gaming sector.

Almost 60% of ALL’s earnings are generated in the USA and the company is projected to grow earnings by 19% to $1.40 per share during 2019.

ALL is one of several ASX listed companies that will benefit from a progressively lower Aussie Dollar.

Technically, we see solid support in the $27.90 area and an initial upside target of $31.25.

Aristocrat Leisure

 

 

 

 

XJO Index Finds Technical Support 6100

Posted on | by Leon Hinde

After posting an intra-day low at 6096 on September 10th, The XJO Index has built an initial base near 6100.00

Over the last two weeks, the index has been trading within an ascending wedge formation.

The next level of resistance will be in the 6227 area. A break of the 6096 support will likely triggered a measured move back to the April lows just below 5800.00

XJO Index