Coles – Buy

Coles Group looks to be creating another higher low formation at $17.80

As the valuation becomes slightly stretched, we suggest investors add a covered call option to enhance the income return.

For more detail, please contact our office on 1300 614 002

ASX – Algo Buy

The chart below shows the range where we will be watching for the short-term momentum indicators to turn higher.

The price action now sits at 50% retracement of the March to November range. We expect to see buying interest begin to rebuild.

China New Economy ETF

CNEW gives investors a portfolio of the most fundamentally sound companies in China having the best growth prospects in sectors making up ‘the New Economy’, namely technology, health care, consumer staples and consumer discretionary.

{AXW:CNEW) is now under Algo Engine buy conditions and we add this to our long-term model portfolio.