China ETF – IZZ

Posted on | by Leon Hinde

ASX:IZZ is under Algo Engine sell conditions following the lower high formation at $65 back on 7 July. Since then, the ETF has corrected lower and is now trading at $58.

For the past 2.5 years the ETF has tracked sideways within the $54 to $65 consolidation band.

We expect to see the IZZ retest the lower level and we’ll revisit the trade closer to $54, in the weeks ahead.

Alexion – Algo Buy

Posted on | by Leon Hinde

Alexion Pharmaceuticals today announced that the company will report its financial results for the second quarter ended June 30, 2020, before the US financial markets open on July 30, 2020.

Alexion is a recent Algo Engine buy signal from the NASDAQ top 100 group of companies. We’ve added this to our portfolio and will review the upcoming result with close interest.

AMD vs Intel

Posted on | by Leon Hinde

NAS:INTL disappointed the market on Friday when it’s earnings fell short of consensus and delays in new chip technology were announced.

When we review the Algo Engine signals we can see Advanced Micro Devices is under buy conditions and has rallied from $48 to $69, whereas, Intel was under sell signals, (since making a lower high at $65) and has now collapsed to $49.

We’re inclined to take profit on the AMD trade and look to soon take advantage of Intel falling into oversold levels.

CIMIC – Buy

Posted on | by Leon Hinde

Cimic Group we are often cautious buying stocks that are under primary Algo Engine sell conditions. However, CIMIC may have found support at $21 and the short-term interim indicators have turned positive.

CIMIC focuses on infrastructure projects in Australia, New Zealand, and Asia. The balance sheet has been repaired following the restructuring and exit of their middle eastern businesses.

In general, governments are pushing through infrastructure projects with greater priority, as a way of stimulating the economy.

CIMIC reports earnings on 30 July.

APA – Buy

Posted on | by Leon Hinde

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

We see price support at $11.00 and reaffirm our “accumulate” rating. 

APA 1H20 results.

NASDAQ – Leading Indicator

Posted on | by Leon Hinde

The NASDAQ remains our leading indicator of global equity markets.

We draw your attention to the index breaking below the 10-day average, this provides an early warning for stalling momentum.

For more detail on shorting/hedging strategies, please call me on 1300 614 002.