Yesterdays “top performer” was Ampol (ALD) which embraced its solid earnings report – considering we believe this is a year to buy weakness and sell strength our interest was pricked by this fuel operator which is trading almost 30% below its 2020 high. We like the risk / reward for this turnaround story plus an almost 3% fully franked yield is useful in today’s environment. Also for good measure 5 of ALD’s board have been buying stock this year and while not in huge quantities its certainly better than them selling at current depressed levels.
MM is bullish ALD with technical stops under $25
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