We continue to like the long side of the energy names.
BHP, STO, OSH and ORG are all current holdings within our model portfolio.
Enegy ETF OOO by Betashare was also a recent Algo Engine buy signal. The price is now up 10% from the entry signal earlier this month.
Our Algo Engine recently generated a buy signal in James Hardie Industries and the stock was added to the ASX50 model.
While the Australian housing cycle is turning, JHX continues to grow above market through a combination of plant efficiencies and new new products.
We remain “long” JHX whilst the share price holds above the $21.50 price level.
JHX goes ex-div $0.30 on the 12th of December. Adding a November $24 call option will enhance the income by a further $0.60 per share.
James Hardie
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Our ALGO engine triggered a buy signal for South 32 into yesterday’s ASX close at $3.61.
The “lower high” pattern is referenced to the low posted on April 12th at $3.34. The stock has been added to our ASX Top 20 portfolio.
The share price has dropped about 8% since announcing an all-cash offer to acquire the remaining 83% of Arizona mining; a Canadian resource company which they own 17%.
The transaction does not need Canadian regulatory approval and should begin showing profits in the zinc and copper area by the September quarter.
We see solid support in the $3.40 area with an upside target in around $4.15 over the medium-term.
South 32
Our ALGO engine triggered a buy signal on NST on May 24th at $6.16.
At the time, we referred to the company’s recent production forecast of 600,000 ounces of Gold for 2018 as a net positive.
However, a recent research note from UBS has upgraded their production to 690,000 ounces and set a 12-month target on the stock at $7.50.
Considering the recent weakness in Spot Gold, we expect NST to continue to trade higher as the Spot market improves. 
Northern Star
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Oil prices surged as much as 5 percent on Friday as OPEC agreed a modest increase in output to compensate for losses in production at a time of rising global demand.
WTI crude futures finished Friday’s session up $3.04, or 4.6 percent, at $68.58 a barrel.
The jump in oil prices has helped support a rally in OOO, Betashares Oil ETF.
Our Algo Engine triggered a buy signal in OOO last week at $18.10 and today the ETF is trading at $19.15.
The rally in oil is also supporting STO, OSH & BHP, which are all current holdings within our ASX50 model portfolio.
Our ALGO engine triggered a sell signal on GPT on June 21st at $5.36.
This “lower high” pattern is referenced to the high of $5.49 posted earlier this year on January 5th.
It’s worth noting that two other yield sensitive names, TCL and SYD also triggered ALGO sell signals last week. Furthermore, all three of these stocks will go ex-dividend on Thursday, June 28th.
As illustrated in the charts below, all three of these stocks have been in an uptrend since March. We expect this pull back into their dividend should allow for better entry points for medium-term investors.
We see initial support for GPT at $4.70, with a stronger chart point at $4.50.
GPT
Transurban
Sydney Airport
Since posting a low of $13.30 on June 1st, shares of SUN have rallied over 11% and reached a 1-year high of $14.80 on Friday.
The selling pressure from the May 25th ACCC report on insurance rates seems to have subsided for now. However, the scaling back of margins and other industry headwinds are still in play.
Technically, internal momentum indicators show that the share price is in overbought territory and a short-term correction is likely.
We see strong resistance in the $15.00 area and initial support just above $13.80.
Investors can trade the short side of SUN on our SAXO Go CFD platform. For more information about trading opportunities with CFDs, call our office at 1-300-614-002
Suncorp
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