Company Overview: carsales.com Limited (ASX: CAR) is an online automotive, motorcycle and marine classifieds business in Australia. Its carsales network is an online shop for buying and selling cars, motorbikes, trucks, boats, and machinery equipment. Pepper Money Limited (ASX: PPM) is an Australia-based non-banking lender that deals in segments including Mortgages, Asset Finance, and Loan and Other Servicing.
Exit Case: carsales.com Limited (ASX: CAR)
CAR has been a part of the 'Momentum Model Portfolio' since July 24, 2023 (portfolio start date), and the suggested resistance level of AUD 26.00 has been achieved. Therefore, an 'Exit' stance from the Momentum Model Portfolio is recommended on the stock at the current market price of AUD 27.74 as on August 15, 2023, at 12:29 PM Sydney, Australia, GMT +10. carsales.com Limited (ASX: CAR) was last covered in a report dated '20 June 2023'.
CAR’s Daily Chart
New Entry Case: Pepper Money Limited (ASX: PPM)
Technical Analysis: On the daily chart, PPM's prices recently broke a crucial resistance level of AUD 1.5500 with the support of volumes, indicating the possibility of a further upside movement hereon. Moreover, the prices are moving above the trend-following indicators 21-period and 50-period SMAs, further supporting a positive bias. The leading indicator RSI (14-period) is moving north from the midpoint with a current reading of 64.61.
PPM is recommended as a new entry in the 'Momentum Model Portfolio' as on August 15, 2023. Considering the technical analysis, support and resistance levels, an 'Entry' is recommended in the 'Momentum Model Portfolio' at the current market price of AUD 1.5675 as on August 15, 2023, 12:30 PM Sydney, Australia, GMT +10. Pepper Money Limited (ASX: PPM) was last covered in a report dated '11 July 2023'.
PPM Daily Chart
Support and Resistance Summary (As on August 15, 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 August 15, 2023, at 12:30 PM Sydney, Australia, GMT +10. 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
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