Tag: ASX:ASX

ASX is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.

We recommend investors buy ASX and we reaffirm our “high conviction” rating.

ASX is under Algo Engine buy conditions.

Higher levels of equities and futures trading, along with growing demand for its data services, have lifted ASX Limited’s earnings and revenue over the half year. Net profit 2H19 to December was up 1.8% to $250mn on revenue of $454mn, which was up 7%, EBIT rose 6% to $315.

We expect growth to remain in the 1  – 4% range and we see the stock as a “high conviction” buy on the dip during the current market sell-off.

ASX is building support at $78.50 and is now trading higher coming into the February earnings result.

The market is forecasting 5% EPS growth and an ongoing yield of 3%.

ASX is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.

We see price support for ASX at $78.00

ASX is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.

We see upside in ASX to $86.00, at which time investors should consider selling out-of-the-money call options to enhance the income return.

ASX goes ex-div $1.14 on 7 March.

For more information on the derivative strategy, please call our office on 1300 614 002.

ASX is among the best performing stocks within our ASX 100 model portfolio. The stock remains under current buy conditions and the earnings have been slightly upgraded, following the release of the March quarter trading data.

The upgrades were driven by stronger than expected ASX 24 derivatives activity. Volumes increased 11% on the same time last year, with a record month in March 2019.

Cash equities turnover was up 9% year-over-year.

At 26x earnings and 3.2% yield, the stock looks expensive but it does offer a relatively safe harbour.

Last week we suggested a buy level for ASX Ltd near $58.00.

With yesterday’s low intraday print at $57.80, that downside buy target has been reached.

Also, with the share price sliding over 15% lower during the last month, internal momentum indicators are now oversold and a reversion higher looks likely.

At $58.00, the stock is on a forward yield of about 4%. We see the first level of resistance near $62.60 and up to $64.00 over the longer-term.

ASX Limited

Our Algo Engine triggered a buy signal in ASX recently and with the stock now moving into our targeted “value range”, we will begin accumulating.

ASX

Our Algo Engine generated a buy signal in ASX recently and we recommend  to keep this name on your watch list.

Our target is for a sub $60.00 entry level, where we feel buying support will begin to build.