Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
“HI James, I missed out on buying XRO when you first recommended it. The recent fall in price – why? Is it a good time to enter the stock? The daily ASX200 movers and losers, what is your approach to these figures” – Thanking you Indran.
Morning Indran,
Xero (XRO) has pulled back in line with a few Australian IT names and in XRO’s case it’s no great surprise after its aggressive squeeze above $150. We like the risk / reward on XRO around $130 but we do believe its likely to be a volatile year for the sector.
In terms of winners / losers we look for broad moves by the stocks to imply inherent strength / weakness i.e. if 80% of stocks rally on an up day we take it as a bullish indicator, although that’s not something that is shown well through that table in the afternoon note – we have greater depth of coverage on this through our trading terminals.
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