Domino’s Pizza Enterprises is now under Algo Engine buy conditions and is a current holding in our ASX model portfolio.
We see price support between $65 & $71.
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Domino’s Pizza Enterprises has now rallied 10% from our entry-level. While DMP’s PE multiple remains elevated at 34x forward earnings, EPS growth is forecast to be 8 -10% and the FY21 yield is 1.9%.
We suggest traders use the short-term momentum indicators as a strategy to manage the timing of taking the short-term. We don’t consider Domino’s Pizza Enterprises a core portfolio holding and feel it makes greater sense to trade rather than hold.
