3 of Our “Buy” Stocks are Getting Close! ALL, CGF, TLS
3 of Our “Buy” Stocks are Getting Close!
CBA was again a drag on the index closing down -0.94%, plus major iron ore names continued to weigh on the index e.g. Fortescue (FMG) -1.95% and BHP Billiton (BHP) -0.73%. Another interesting point that caught our eye was the lack of buying within our gold stocks following gold’s $US16/oz. rally last night e.g. Newcrest (NCM) +0.09% and Evolution Mining (EVN) unchanged, we remain comfortable maintaining a degree of patience with our future gold purchases.
The local market yet again opened strongly today, putting on over 10-points in early trade, led by the energy sector as expected, which closed up 1.91%. However, as has often been the case over recent weeks, the index slowly, but surely gave back its early gains as the market had a range of +/- 32 points, a high of 5698, a low of 5666 and a close of 5671, down 12 points, or -0.25%.
Today we are going to focus on 3 stocks we are expecting to buy over the coming days / weeks.
ASX 200 intraday Chart
ASX 200 Weekly Chart
1 Aristocrat Leisure (ALL) $20.21 – We are targeting ALL below $20 and believe there is a strong possibility we will buy our first tranche in the next 24-48 hours.
*Watch for alerts.
Aristocrat Leisure (ALL) Weekly Chart
2 Telstra (TLS) $3.52 - We are targeting TLS under $3.50 and believe there is a strong possibility we will be buyers in the next 24-48 hours.
*Watch for alerts.
Telstra (TLS) Daily Chart
3 Challenger (CGF) - We are targeting CGF under $12 and believe there is a strong possibility we will buy our first tranche in the next 24-48 hours
*Watch for alerts.
Challenger Financial (CGF) Monthly Chart
Have a great night
The Market Matters Team
Disclosure
Market Matters may hold stocks mentioned in this report. Subscribers can view a full list of holdings on the website by clicking here. Positions are updated each Friday.
Disclaimer
All figures contained from sources believed to be accurate. Market Matters does not make any representation of warranty as to the accuracy of the figures and disclaims any liability resulting from any inaccuracy. Prices as at 26/09/2017 4.21PM.
Reports and other documents published on this website and email (‘Reports’) are authored by Market Matters and the reports represent the views of Market Matters. The MarketMatters Report is based on technical analysis of companies, commodities and the market in general. Technical analysis focuses on interpreting charts and other data to determine what the market sentiment about a particular financial product is, or will be. Unlike fundamental analysis, it does not involve a detailed review of the company’s financial position.
The Reports contain general, as opposed to personal, advice. That means they are prepared for multiple distributions without consideration of your investment objectives, financial situation and needs (‘Personal Circumstances’). Accordingly, any advice given is not a recommendation that a particular course of action is suitable for you and the advice is therefore not to be acted on as investment advice. You must assess whether or not any advice is appropriate for your Personal Circumstances before making any investment decisions. You can either make this assessment yourself, or if you require a personal recommendation, you can seek the assistance of a financial advisor. Market Matters or its author(s) accepts no responsibility for any losses or damages resulting from decisions made from or because of information within this publication. Investing and trading in financial products are always risky, so you should do your own research before buying or selling a financial product.
The Reports are published by Market Matters in good faith based on the facts known to it at the time of their preparation and do not purport to contain all relevant information with respect to the financial products to which they relate. Although the Reports are based on information obtained from sources believed to be reliable, Market Matters does not make any representation or warranty that they are accurate, complete or up to date and Market Matters accepts no obligation to correct or update the information or opinions in the Reports.
If you rely on a Report, you do so at your own risk. Any projections are estimates only and may not be realised in the future. Except to the extent that liability under any law cannot be excluded, Market Matters disclaims liability for all loss or damage arising as a result of any opinion, advice, recommendation, representation or information expressly or impliedly published in or in relation to this report notwithstanding any error or omission including negligence.
To unsubscribe. Click Here
