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After the strong rally in SGP, LLC, GPT and MGR, the price action looks to be rolling over, pointing lower, and we’ll watch these names closely. SGP appears to be showing the most selling pressure with the current price action taking out the 4.74 low formed on the 26th of April.
Our Algo Engine generated a buy signal on MVA.AXW (Vaneck Vectors Australian Property ETF) back in November at around $18.40, the ETF traded up to $21.30 and in the last week it’s starting to run into selling pressure.
With a widespread ransomware attack hitting thousands of computer systems over the weekend, we expect increased interest in the cyber security Exchange Traded Fund with the symbol: HACK.
HACK is made up of the leading companies in the global cyber security sector. These stocks include Symantec, Check Point and Cisco Systems.
This ETF started trading in September of last year and offers investors exposure to a diversified portfolio of the world’s largest cyber security companies in a single transaction.
BetaShare ETF: HACK
The current sell-off in TCL will soon offer a reasonable entry level.
With US yields remaining under pressure, we continue to like yield sensitive names. Especially, if we can pick them up at a discount following investors taking profit from the recent strong rally.
The chart below shows the value range to enter TCL.
The US stock Volatility Index, or VIX, is the industry benchmark for measuring the implied volatility for stocks in the S&P 500 index. It’s often referred to as the “fear index.”
The VIX is a non-directional indicator, since market volatility will increase whether the S&P Index trades higher or lower.
A low number suggests low volatility, and a low level of “fear” that the collective stocks in the S&P 500 are going to stage a sharp move in either direction.
As of Friday’s NY close, the VIX has settled below 11.00 for 15 consecutive trading sessions. This is the longest streak of market complacency since the VIX started trading in 2004.
VIX Index
Since the US election in November, the 5 biggest stocks on the NASDAQ: Amazon, Apple, Facebook, Google and Microsoft have gained an extraordinary $675 billion in market capitalization.
This move higher pushes their collective valuations to close to $3 trillion, or over 10% of the entire US market.
To put this into a global context, that’s more than the total value of stocks in any single equity market worldwide except the UK, China, Japan, Hong Kong and the USA.
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ING is on the fringe of the stocks that we tend to focus on, however, given the recent Algo Buy signal at $3.05, we’ve now added this to our watch list.
Our Algo Engine is flagging the lower high structure in FLT.
Our Algo Engine generated a buy signal on GrainCorp back in early March.
Following the strong share price move the stock now looks fully valued short term.
GNC delivered a solid 1H result and the full year forecast of around $160m should be achievable. Based on DPS of $0.32 the stock trades on 3.2% yield.
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Investor Signals Pty Ltd
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