18 Share Tips – 24 February 2020

11min read

PREVIOUS ARTICLE 18 Share Tips – 17 February …

Free Knigthsbridge Trading Academy worth $2750 with Axitrader

Michael Gable, Fairmont Equities

BUY RECOMMENDATIONS

Goodman Group (GMG)

Chart: Share price over the year

This global property group recently reported a solid half year result, upgrading guidance along the way. From a charting perspective, GMG recently moved to a new high. This is a sign of strength and indicates GMG is likely to continue trending higher from here. The shares were trading at $16.495 on February 20.

Commonwealth Bank of Australia (CBA)

Chart: Share price over the year

The CBA share price had spent the back half of last year unable to make any meaningful headway. It then broke through major resistance in January, and the share price continued to rally on the back of solid half year results. With momentum returning to the share price, I expect it to continue rallying higher from here. The shares were trading at $87.94 on February 20.

HOLD RECOMMENDATIONS

Alumina (AWC)

Chart: Share price over the year

AWC appears to have formed a double bottom on the share price chart and good buying support is returning to this company with a 40 per cent stake in Alcoa World Alumina and Chemicals (AWAC). We expect AWC to move higher from here on an attractive dividend yield and forecasts of higher aluminium prices.

Evolution Mining (EVN)

Chart: Share price over the year

Shares in this gold producer are trading well. By pushing through several major technical levels, more volume is returning to EVN shares and momentum is positive. The shares have risen from $3.67 on January 3 to trade at $4.485 on February 20.

SELL RECOMMENDATIONS

Bendigo and Adelaide Bank (BEN)

Chart: Share price over the year

There’s a stark difference in performance between the four major banks and their regional counterparts. With BEN recently heading lower and raising more funds, we can’t see much upside – at least in the short term. Better opportunities…

Source Link