Exit Case: Coronado Global Resources Inc.
Overview: Coronado Global Resources Inc. (ASX: CRN) is an Australia-based company that produces, markets, and exports a range of metallurgical coals. CRN has been a part of the 'Momentum Model Portfolio' since January 20, 2023; however, the suggested support level of AUD 1.790 is triggered on March 14, 2023. Therefore, an 'Exit' stance from the Momentum Model Portfolio is recommended on the stock.
CRN’s Daily Chart
New Entry Case: Stockland
Overview: Stockland (ASX: SGP) is a diversified property developer and investor. About 60% of earnings before interest and taxes, or EBIT, is rental income from its Australian commercial property portfolio, split between retail 60%, office 25% and industrial 15%.
Technical Analysis: On the weekly chart, SGP’s prices recently broke a falling channel pattern by an upside and are sustaining above the same, 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 ~49.04. The prices are above the trend following indicators 21-period and 50-period SMAs, further supporting a positive bias.
SGP is recommended as a new entry in the 'Momentum Model Portfolio' as on March 14, 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 3.770 as on March 14, 2023.
SGP’s Weekly Chart
Support and Resistance Summary (As on March 14, 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 March 14, 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.
Disclaimer
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