Resmed – Support Level

ResMed is under Algo Engine buy conditions and is now up 84% since being added to our model in October 2018.

RMD delivered a solid earnings result and upgrades to earnings are partially offset by the stronger AUD.

RMD is looking to resume share buybacks in 2H21.

We see buying support at $26 and suggest investors look to accumulate the stock.

NCM – Buy

Newcrest Mining is under Algo Engine buy conditions and we see buying interest increasing as the “risk off” trade builds momentum.

Newcrest delivered a decent quarter in terms of production at all sites but costs were significantly higher than expected.

Buy NCM $25.50 on valuation grounds.