Exit Case: Coles Group Limited
Overview: Coles Group Limited (ASX:COL) is an Australia-based company that operates predominantly in the retail industry. COL has been a part of the 'Momentum Model Portfolio' since July 24, 2023; however, the suggested support level of AUD 16.30 is triggered on August 22, 2023. Therefore, an 'Exit' stance from the Momentum Model Portfolio is recommended on the stock.
COL’s Daily Chart
New Entry Case: Aussie Broadband Limited
Overview: Aussie Broadband Limited (ASX: ABB) works in telecommunication services, which provides internet and other telecommunication services.
Technical Analysis: On the daily chart, ABB’s prices are trading above the horizontal trendline support zone, indicating the possibility of an upside movement hereon. Moreover, the momentum oscillator RSI (14-period) is recovering from the lower levels and is showing a reading of ~67.28. The prices are above the trend following indicators 21-period SMA, further supporting a positive bias.
ABB is recommended as a new entry in the 'Momentum Model Portfolio' as on August 22, 2023. Considering the technical analysis, support and resistance levels, an 'Entry' is recommended in the 'Momentum Model Portfolio' at the closing market price of AUD 3.12 as on August 22, 2023.
ABB’s Daily Chart
Support and Resistance Summary (As on August 22, 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 22, 2023. 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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