Small-Cap

Momentum Model Portfolio Rebalancing: EXIT (ASX: BBN) and ENTRY (ASX: AMP)

April 05, 2024 | Team Kalkine
Momentum Model Portfolio Rebalancing:  EXIT (ASX: BBN) and ENTRY (ASX: AMP)

BBN:ASX
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (AU$)
AMP:ASX
Investment Type
Mid - Cap
Risk Level
Action
Rec. Price (AU$)

Exit Case: Baby Bunting Group Limited (ASX: BBN)

Overview: Baby Bunting Group Limited (ASX: BBN) is a specialty baby products retailer. The company offers products for children from newborns up to three years of age and parents-to-be. Its principal product categories include prams, cots and nursery furniture, car safety, toys, babywear, feeding, nappies, Manchester, associated accessories, and consumables. BBN has been a part of the 'Momentum Model Portfolio' since February 21, 2024; and the suggested resistance level of AUD 1.93 has been achieved. Therefore, an 'Exit' stance from the Momentum Model Portfolio is recommended on the stock as on April 05, 2024.

BBN’s Daily Chart

New Entry Case: AMP Limited (ASX: AMP)

Overview: AMP Limited (ASX: AMP) engages in retail wealth management and banking business, offering services in financial advice and superannuation, retirement income, banking, and investment products.

Technical Analysis: On the daily chart, AMP’s prices are trading above the falling trendline support zone, indicating the possibility of an upside movement hereon. Moreover, the momentum oscillator RSI (14-period) is showing a reading of ~64.00. The prices are above the trend following indicators 21-period SMA, further supporting a positive bias.

AMP is recommended as a new entry in the 'Momentum Model Portfolio' as on April 05, 2024. Considering the technical analysis, support and resistance levels, an 'Entry' is recommended in the 'Momentum Model Portfolio' at the closing price of AUD 1.165 as on April 05, 2024.

 AMP’s Daily Chart

Support and Resistance Summary (As on April 05, 2024)

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency as of April 05, 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.

Disclaimer

This information should not be relied upon as personal financial advice by Kalkine on (i) the stocks or (ii) the use or suitability of the model portfolios. Only an investor knows about their circumstances to make an investment decision.

Model Portfolio has been prepared for illustrative purpose only and does not take into account the objectives, financial situation or needs of any particular investor. Accordingly, investors should, before acting on the information, consider its appropriateness, having regard to their objectives, financial situation and needs. Past performance is not necessarily indicative of future performance results. Actual investment returns will vary, and the value of investments can go up or down.



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