Northern Star – Buy

Posted on | by Leon Hinde

Super Pit joint owners Northern Star and Saracen Mineral Holdings are set to combine, having agreed to a merger-of-equals worth $16 billion.

The proposed merger will create a new top 10 global gold major with a world-class portfolio and three large-scale production centres in Kalgoorlie and Yandal in Western Australia, as well as in North America.

Northern Star Resources Algo buy signal

{ASX:SAR) Algo buy signal

Global Gold Miners

Posted on | by Leon Hinde

BetaShares Global Gold Miners is under Algo Engine buy conditions.

MNRS aims to track the performance of an index, (before fees and expenses), that comprises the largest global gold mining companies (ex-Australia), hedged into Australian dollars.

As Gold rallies from the recent US$1770 level to US$1890, we expect to see renewed buying interest in the related ETFs and the listed gold miners.

ASX200 – Line in the Sand

Posted on | by Leon Hinde

S&P/ASX is under Algo Engine buy conditions since forming a higher low on 21 September this year.

As PE valuations expand and evidence of earnings growth remains minimal, we see risks increasing for the overall market, both domestic and international equities.

With the above in mind, it’s prudent to tighten the stop loss or market reversal level and the chart below highlights 6630 as support.

Cleanaway – Approaching Support

Posted on | by Leon Hinde

CWY was recently added to our ASX Top 100 model portfolio following the shift to Algo Engine buy conditions at $2.05. 

The recent pullback from the $2.60 high provides another opportunity for investors to add CWY to their portfolios. 

We see price support at $2.30 and suggest watching the short-term indicators for a turn higher, near, or just above this support. 

Call our office on 1300 614 002 if you would like more detail on our current portfolio holdings.