BetaShares Australian Resources ETF (ASX: QRE) $9.63

The QRE ETF has corrected by 15% over the past few weeks from its June high, and we would say it’s now in an optimal accumulation phase for investors who don’t want to run the gauntlet of earnings misses, operational issues, etc. However, with the ETF holding ~15% in energy and utilities stocks, we still think picking individual stocks is a better way to go for the moves that we’re targeting.

• We are bullish on the QRE ETF and initially targeting a break of $11, but we do still give it a 20% chance that it may re-test the $9 area.