BlueBet Holdings Ltd. (ASX: BBT)

BlueBet Holdings Limited is a debt-free, Australia wagering operator, which has been self-funded since its establishment in 2015. It offers wagering products on racing and a range of other sports through the internet using a computer, mobile phone, and other connecting devices.

Technical Analysis: On a daily chart, BBT prices moved up from lower levels and the prices are taking support of the upward sloping trend line that is positive for the price action. Moreover, the momentum oscillator RSI (14-period) is trading at ~57.03, indicating bullish price momentum for the stock. Prices are also trading above to its 21-period SMA that also support our bullish stance. An important support level for the stock, is placed at AUD 0.463 while the key resistance level is placed at AUD 0.630.

Considering the company’s current price levels with upside breakout, momentum indicator analysis, it is prudent to invest in this stock at closing price levels; hence a ‘Speculative Buy’ stance is suggested. The stock was analysed as per the closing price of AUD 0.53 per share, up by ~12.765%, as on 28^th June 2022.

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

Daily Technical Chart – BBT

Source: REFINITIV

Catapult Group International Limited (ASX: CAT)

Catapult Group International Limited is engaged in the development as well as sale of the performance and health technology solutions, consisting of wearable tracking as well as analytics, to elite sporting teams, leagues and associations.

Technical Analysis: On the weekly chart, CAT prices are trading in a falling wedge pattern from past several months. Also, the prices are trading below its 21-period SMA that further support our watch stance in the stock. The momentum oscillator, RSI (14-period) is trading at ~27.10, further indicates that the stock is trading in a weak zone. An important support level for the stock, is placed at AUD 0.675 while the key resistance level is placed at AUD 0.878.

Investors can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario.

Considering the company’s price levels trading in a primary downward trend, and trapped in a falling wedge pattern, it is prudent for the investors to ‘watch’ this stock. The stock was analysed as per the closing price of AUD 0.755 per share, down by ~0.657%, as on 28^th June 2022. 

Weekly Technical Chart – CAT

Source: REFINITIV

Note 1: The reference data in this report has been partly sourced from REFINITIV.

Note 2: Investment decisions should be made depending on the investors’ appetite for upside potential, risks, holding duration, and previous holdings. Investors can consider exiting from the stock if the Target Price mentioned as per the Valuation has been achieved and is subject to the factors discussed above.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.

The Green colour line reflects the 21-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 21-period, prices are currently in a bullish trend (Vice – Versa).

The Blue colour line reflects the 50-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 50-period, prices are currently in a bullish trend (Vice – Versa).

The Orange colour line represents the Trendline.

The Purple colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period), which indicates price momentum and signals momentum in trend. A reading of 70 or above suggests overbought status, while a reading of 30 or below suggests an oversold status.

Disclaimer - This report has been issued by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and prepared by Kalkine and its related bodies corporate authorised to provide general financial product advice. Kalkine.com.au and associated pages are published by Kalkine.

Any advice provided in this report is general advice only and does not take into account your objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Statement or other offer document for the securities or other financial products referred to in Kalkine reports. You should obtain a copy of the relevant Product Disclosure Statement, Information Statement or offer document and consider the statement or document before making any decision about whether to acquire the security or product.

You should also seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice in this report or on the Kalkine website. Not all investments are appropriate for all people.

The information in this report and on the Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of information contained in its reports, newsletters and websites. All information represents our views at the date of publication and may change without notice.

Kalkine does not guarantee the performance of, or returns on, any investment. To the extent permitted by law, Kalkine excludes all liability for any loss or damage arising from the use of this report, the Kalkine website and any information published on the Kalkine website (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine hereby limits its liability, to the extent permitted by law, to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

On the date of publishing this report (referred to on the Kalkine website), employees and/or associates of Kalkine and its related entities do not hold interests in any of the securities or other financial products covered on the Kalkine website unless those persons comply with certain safeguards, procedures, and disclosures.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.