Our Algo Engine recently triggered a buy signal in IVC at $15.71.
With the stock trading on a forward yield of 3% and underlying earnings growth of 8%, we feel investors should be watching for a near-term entry point.
FY18 NPAT is forecast to be $67m, EPS $0.61 and DPS $0.47 fully franked.
Invocare
Both ING and IVC remain on our watch list following recent Algo Engine buy signals.
We recommend investors continue to monitor these names, as they are now approaching oversold levels.
Our ALGO engine triggered a buy signal for InvoCare at $16.40 on yesterday’s ASX close.
The stock looked very expensive when it posted a high trade of $18.10 on December 4th. Since then the company has been the target of several negative analyst’s reports and the share price dipped to $16.25 in early trade today.
The ALGO engine has flagged the “higher low” pattern based on the low price in the $13.00 area back in early August.
We don’t expect the IVC share price to rally back to the $18.00 area in the near-term.
However, we believe with the internal momentum indicators in oversold territory, a move back to the $17.35/40 area is a reasonable trade for both share investors and CFD traders on our SAXO Go platform.
InvoCare
Our Algo Engine triggered a buy signal on Invocare at $13.60 and the stock is now trading $14.18.
We feel IVC could trade $14.50 before running into selling pressure.
Our Algo Engine triggered a buy signal on Invocare and it now appears that the stock is finding buying support. The share price is pivoting higher after making a low at $13.60 on August 3rd.
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