Sydney is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
We see buying support building between $7.80 and $8.00. On a rally back to $8.50, investors should consider selling a European call option into early 2020 to enhance the income return.
SYD goes ex-div $0.19 on the 28th of December.
Author: Leon Hinde
Leon has been working in the financial services industry for 18 years in management and advisory roles. Leon has extensive experience in general advice and dealings involving securities and derivative financial products.
PS 146 Securities & Derivatives, ADA 1 & 2 accreditation, Responsible Manager Certificate. Leon is authorised to provide financial product advice and deal with respect to the following financial products:
· Deposit Products
· Interest in managed investment schemes; and
· Government debentures, bonds and stocks