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IPL – Buy Signal
We’ve been tracking IPL for a turn higher in the short-term momentum indicators. It now appears that buying interest is increasing and we’ve seen the price action find support at $3.00.
NIB Holdings – Trades Higher
Our call for NIB Holdings to find support and trade higher into the February earnings result is now gaining traction.
The price action found support at $6.60 and we now expect to see a test of the $7.00 – $7.50 range.
QBE – 10% Rally
QBE Insurance Group was discussed in the “opportunities in review” webinar earlier this month. We expressed the view that $12.00 provided support and our bullish call on QBE is now playing out. The stock has rallied from $12.00 to $13.20 and we see further upside to $14.00.
Star Entertainment – Algo Buy Signal
The Star Entertainment Group was recently flagged as an Algo Engine buy signal and we highlighted on the blog the support at $4.50. Since then the stock has rallied and the momentum indicators continue to point higher.
Brambles – Buy
Brambles is under Algo Engine buy conditions and is a current holding in ASX 100 model portfolio.
We see value at $12.00
SPDR Property Fund ETF – Approaching Support
SPDR S&P/ASX 200 Listed Property is under Algo Engine buy conditions and is a current holding in ASX 100 model portfolio.
We anticipate buying support will build within the $13 to $13.50 price range.
QBE – Finds Buying Support
QBE Insurance Group is under Algo Engine buy conditions and is a current holding in ASX 100 model portfolio.
Support at $12.00
ASX Signals for December 13, 2019
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Pro Medicus – Algo Buy Signal
Pro Medicus is under Algo Engine buy conditions and we add this one to our watchlist. With the stock trading on almost 100x PE, it’s expensive even after the share price correction from $38 to $22.
Short covering is likely to occur soon and it’s worth watching the short-term indicators for a reversal higher.
About: Pro Medicus are a leading provider of radiology information systems (RIS), Picture Archiving and Communication Systems (PACS) and advanced visualization solutions across the globe.
Buy range $20.00 – $22.00
