Metals recycling business SGM was the markets 2nd worse performing stock yesterday falling -5.8% after digesting the previous days results and encountering a downgrade by Macquarie Group. We see no issue with SGM more just a case of too much too soon after popping to fresh highs earlier in the week i.e. another classic “fade the rally but BUY the dip scenario”. The stocks enjoyed a strong rally over the last 12-months and a pullback is healthy in our opinion, we wouldn’t be surprised to see another 6-8% downside but under $15 it will be on our radar – one for the Hitlist over the coming months
scroll
Thursday 28th March – ASX200 +80pts, All Time High, Retail Sales
Close
Performance for February & 4 stocks we like here and now
Close
Thursday 28th March – DOW up +477pts, SPI up +60pts
Close
MM likes SGM under $15
Add To Hit List
Relevant suggested news and content from the site
Podcast
LISTEN
Thursday 28th March – ASX200 +80pts, All Time High, Retail Sales
Daily Podcast Direct from the Desk
Video
WATCH
Performance for February & 4 stocks we like here and now
Recorder Friday 8th March
Podcast
LISTEN
Thursday 28th March – DOW up +477pts, SPI up +60pts
Daily Podcast Direct from the Desk
Members only
UNLOCK MARKET MATTERS NOW
Take a free trial.
No payment details required.