Mid-Cap

Momentum Model Portfolio Rebalancing: EXIT (ASX: LLC) and ENTRY (ASX: PLS)

February 21, 2024 | Team Kalkine
Momentum Model Portfolio Rebalancing:  EXIT (ASX: LLC) and ENTRY (ASX: PLS)

LLC:ASX
Investment Type
Mid - Cap
Risk Level
Action
Rec. Price (AU$)
PLS:ASX
Investment Type
Large-cap
Risk Level
Action
Rec. Price (AU$)

Exit Case: Lendlease Group (ASX: LLC)

Overview: Lendlease Group is an international property and investments group with operations in Australia, Asia, Europe, and the Americas. The company manages funds and assets for major real estate investors across the world. LLC has been a part of the 'Momentum Model Portfolio' since December 18, 2023. Therefore, an 'Exit' stance from the Momentum Model Portfolio is recommended on the stock at the closing price of AUD 6.02 as on February 21, 2024.

LLC’s Daily Chart

New Entry Case: Pilbara Minerals Limited (ASX: PLS)

Overview: Pilbara Minerals Limited is a pure-play lithium company based in Australia. It is engaged in the exploration, development, and mining of minerals in Australia.

Technical Analysis: On the daily chart, PLS’ 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 ~53.65. The prices are above the trend following indicators 21-period SMA, further supporting a positive bias.

PLS is recommended as a new entry in the 'Momentum Model Portfolio' as on February 21, 2024. Considering the technical analysis, support and resistance levels, an 'Entry' is recommended in the 'Momentum Model Portfolio' at the closing price of AUD 3.66 as on February 21, 2024.

PLS’ Daily Chart

Support and Resistance Summary (As on February 21, 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 February 21, 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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