Following the Algo buy signal, S32 was added to the ASX50 model portfolio in February 2017 at $2.50.
The stock price rallied to $4.00 this year, then sold-off and created a “lower high” formation; an Algo sell signal was generated last week.
We continue our technological research in algorithm trading and remain encouraged by historical testing results.
We’re increasingly applying the rule -based model into our broader portfolio management style.
S32
It’s always interesting to look at the index re-balancing and think about the names that have been removed or added in the index rankings.
QBE has a negative price structure and an Algo Engine sell signal.
S32 has an Algo Engine buy signal and is a core holding in our ASX Top 50 model Portfolio. As of March 19th, S32 will now move into the ASX Top 20 model.
We suggest readers look at the charts of the two new additions to the ASX100 index, CWY and XRO.
South 32 has rallied from the recent support level, as buying increased at $3.20.
S32 is in the ASX 50 model following the Algo Engine buy signal back in February.
We see further upside toward the $3.50 level.
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