Mid-Cap

Top Picks for April 2024 - IEL, MGX, and DUR

April 02, 2024 | Team Kalkine
Top Picks for April 2024 - IEL, MGX, and DUR

IEL:ASX
Investment Type
Mid - Cap
Risk Level
Action
Rec. Price (AU$)
MGX:ASX
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (AU$)
DUR:ASX
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (AU$)

IDP Education Limited (ASX: IEL)

Company Overview: IDP Education Limited (ASX: IEL) is engaged in the placement of international students into educational institutions in Australia, the UK, the US, Canada, New Zealand, and Ireland. Kalkine’s Daily Report covers the Key Financial Metrics, Risks, Outlook, Technical Analysis along with the Valuation, Target Price, and Recommendation on the stock.

Section 1.0: Key Metrics in Pictures

Having looked at the key financial ratios above the below sections provide an in-depth fundamental, and technical analysis on this one ASX-listed Consumer Services’ stock along with recommendations, technical support and resistance levels and indicative stop-loss.

Section 2.0: IDP Education Limited (ASX: IEL) (‘Buy’ at AUD 17.68 at Closing Market Price as on 2 April 2024)

2.1 Company Details

2.2 Valuation and Technical Guidance

The stock has declined by ~10.7% in the last 3 months, whereas over the last 1 year, the stock has decreased by ~37.3%. The stock has a 52-week low and 52-week high of AUD 17.180 and AUD 29.260, respectively, and is currently trading below the average of 52-week high and low. IEL was last covered in a report dated ’13 March 2024’.

Mount Gibson Iron Limited (ASX: MGX)

Company Overview: Mount Gibson Iron Limited (ASX: MGX) is a Western Australian producer of direct shipping grade iron ore goods. The company has assets in the Kimberley and Mid-West regions of Western Australia.

Section 1.0: Key Metrics in Pictures

Having looked at the key financial metrics above the below sections provide in-depth fundamental, and technical analysis on this Iron Ore Producer along with recommendation, technical support, and resistance level & indicative stop-loss.

Section 2.0: Mount Gibson Iron Limited (‘Speculative Buy’ at AUD 0.440, closing market price per share as on 2 April 2024)

2.1 Company Details

2.2 Valuation, Technical Summary & Stock Recommendation

The stock has witnessed a dip of ~22.1% in the last three months, and over the last one year, it has decreased by ~15.3%. The stock has a 52-week low and 52-week high of AUD 0.375 and AUD 0.570, respectively and is currently trading below the 52-week high-low average. MGX was last covered in a report dated ‘06 March 2024’.

Duratec Ltd (ASX: DUR)

Company Overview: Duratec Ltd (ASX: DUR) is an ASX listed construction & engineering entity that specializes in the protection and remediation of steel and concrete structures.

Section 1.0: Key Metrics in Pictures

Having looked at the key financial ratios above the below sections provide an in-depth fundamental, and technical analysis on this Capital Goods’ stock along with recommendations, technical support and resistance levels and indicative stop-loss.

Section 2.0: Duratec Ltd (‘Speculative Buy’ at AUD 1.250, Closing Market Price as on 2 April 2024)

2.1 Company Details

2.2 Valuation, Stock Recommendation, and Technical Guidance

The stock has witnessed a decline of ~6.02% in 6 months and over the last 1 Year, it has increased by ~47.06%. The stock has a 52-week low and 52-week high of AUD 0.835 and AUD 1.720, respectively and is currently trading below the average of its 52-week low and high. DUR was last covered in a report dated ‘5 February 2024’.

 (Source: REFINITIV; Analysis by Kalkine Group)

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 2 April 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Dividend Yield may vary as per the stock price movement.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.



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