GDX Gold ETF
Vaneck Vectors Gold Miners is under Algo Engine buy conditions.
GDX provides broad exposure to the leading global gold producers. After the recent sell-off from $65 down to $50, we expect to see buying support begin to rebuild.
Newcrest – Buy
Newcrest Mining remains under Algo Engine buy conditions. We suggest investors accumulate NCM near the $29 support level.
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CBA – 1Q21 Earnings
Commonwealth Bank of remains under Algo Engine sell conditions.
1Q21 earnings of $1.8bn were down 16% on the same time last year. CBA’s operational performance in 1Q21 does not justify the premium it is trading on versus peers.
Our preferred exposure to banks is through the BetaShares Global Banks
Newcrest – Buy
Newcrest Mining remains under Algo Engine buy conditions. We suggest investors accumulate NCM near the $29 support level.
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OOO ETF
BetaShares Crude Oil Index ETF-Currency Hedged should perform well under an environment with an announced vaccine and an easing of travel restrictions.
Beach Energy – Buy
Beach Energy is the only top 100 energy stock under algo engine buy conditions. Buying interest is building above the $1.15 support level.
FY20 underlying NPAT of A$500mn was ahead of market expectations.
REA Group – Earnings
REA Group is under Algo Engine buy conditions since switching in mid-September at $106.
REA has reported 1Q21 results ahead of analysts estimates with revenue of $196mn nd EBITDA of $124mn.
Although the management outlook statement remains positive, we have some concerns about valuation and consider the stock near resistance.
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