Exit Case: Boral Limited (ASX: BLD)
Overview: Boral Limited is an Australia-based company which is engaged in the provision of building and construction materials. BLD has been a part of the 'Momentum Model Portfolio' since May 22, 2023 (portfolio start date) and is currently facing stiff resistance of AUD 4.42 level. Therefore, an 'Exit' stance recommended on the stock from the Momentum Model Portfolio at the current market price (CMP) of AUD 4.39 as on July 18, 2023 at 10.00 AM (GMT+10) in Sydney NSW, Australia.
BLD’s Daily Chart
New Entry Case: Starpharma Holdings Limited (ASX: SPL)
Overview: Starpharma Holdings Limited is engaged in the development of dendrimer products for pharmaceutical, life science, and other applications.
Technical Analysis: On the daily chart, SPL’s prices are sustaining above a downward sloping trend breakout level for the past couple of days and recently broke a crucial resistance level of AUD 0.342, indicating the possibility of a further upside movement hereon. Moreover, the momentum oscillator RSI (14-period) is showing a reading of ~56.36, and prices are above the trend following indicators 21-period SMA, further supporting a positive bias.
SPL is recommended as a new entry in the 'Momentum Model Portfolio' as on July 18, 2023. Considering the technical analysis, support and resistance levels, an 'Entry' is recommended in the 'Momentum Model Portfolio' at the current market price (CMP) of AUD 0.350 as on July 18, 2023 at 10.00 AM (GMT+10) in Sydney NSW, Australia.
SPL’s Daily Chart
Support and Resistance Summary (As on July 18, 2023)
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 July 18, 2023 at 10.00 AM (GMT+10) in Sydney NSW, Australia. 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.
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