IAG – Algo Buy Signal

Insurance Australia Group is now showing an Algo Engine buy signal and remains a long term holding in our ASX 100 model portfolio.

We see value emerging and consider the $7.50 price range as support and expect buying interest to remain solid.

Look for a move higher into the $8.00+ range and then sell covered call options to enhance the income return.

For more detail on the option strategy, please call our office on 1300 614 002.

 

 

Amcor – High Conviction Buy

 Amcor is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.

The FY19 result was slightly below expectations. The key highlight was the announcement of the US$500m on-market buyback.

A combination of cost synergies post the Bemis acquisition and the share buyback will help underpin near-term earnings.

Buy $13.85

 

Silver Lake Resource – Finding Support

Silver Lake Resources is under Algo Engin buy conditions and we now add the name to our watch list.

Silver Lake is a gold producer with its cornerstone asset the Mount Monger Gold Camp, located in Kalgoorlie, Western Australia. The Mount Monger Camp produced ~158,000 ounces in FY18 and has a proven history of Reserve replacement and discovery.

The chart below shows SLR finding support at $0.90 and the short-term indicators are turning higher.