Evolution Mining is under Algo Engine buy conditions.
Trader instructions
Buy: @market above $3.50 support
Sell: stop loss $3.45
18/11 update: EVN is now trading $4.30 and the price action remains above the 10-day average.
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Fortescue Metals Group was sold on Friday after being in our model portfolio since July 2019. Following an 840 day holding period, the position was closed for 157% gain.
We continue to maintain exposure to the mining sector and our open positions include RIO, BHP, OZL, and the OZR ETF.
Chart below: SPDR S&P/ASX 200 Resources
Incitec Pivot was added to the ASX model portfolio in May this year and is now up 39%. Today, the company announced a 91 percent increase in net profit for FY21.
Lendlease has warned of a challenging year to come as COVID-19 puts a dampener on development and construction globally.
FY21 net profit after tax of $377 million was in line with the company’s guidance, largely due to divesting its loss-making engineering and services.
We expect to see an improvement in earnings towards the end of FY22.
Note: Buying LLC is a high-risk turnaround story, an alternative to buying the stock is the purchase of $11 March call options. Call 1300 614 002 to learn more about this strategy.
Treasury Wine Estates is under Algo Engine buy conditions.
TWE continues to adjust to a post pandemic/post Chinese tariff environment. FY21 EBIT of $510 exceeded market expectations. After a number of years of disappointment for TWE in this region, we see America’s division accelerating growth into FY22.
FY22 EBIT growth is forecast to be in the mid to high single-digit range.
8/11 update: Buy above the $11.50 support range and place the stop loss below the recent pivot low of $11.48.
BlueScope Steel is under Algo Engine buy conditions.
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2 Chifley Square
Sydney, NSW 2000
1300 614 002
Investor Signals Pty Ltd
ABN 44 143 555 453
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