Company Overview: SEEK Limited (ASX: SEK) is an Australian human resource consulting company with a presence across Asia-Pacific and Latin America. SEK is engaged in the online matching of hirers and candidates with career opportunities and other related services. TerraCom Limited (ASX: TER) is engaged in coal exploration and extraction in Australia and South Africa. The Company explores hard and soft coking, thermal, and PCI coal.
Exit Case: SEEK Limited (ASX: SEK)
SEK has been a part of the 'Momentum Model Portfolio' since July 24, 2023 (portfolio start date), and currently, the prices are facing stiff resistance around AUD 26.00 level. Therefore, an 'Exit' stance from the Momentum Model Portfolio is recommended on the stock at the closing price of AUD 25.76 as on August 14, 2023. SEEK Limited (ASX: SEK) was last covered in a report dated '09 June 2023'.
SEK’s Daily Chart
New Entry Case: TerraCom Limited (ASX: TER)
Technical Analysis: On the daily chart, TER’s prices recently broke a falling trend line by an upside and are sustaining above the breakout level for the past couple of sessions, 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 63.67.
TER is recommended as a new entry in the 'Momentum Model Portfolio' as on August 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 0.46 as on August 14, 2023. TerraCom Limited (ASX: TER) was last covered in a report dated ‘09 August 2023’.
TER Daily Chart
Support and Resistance Summary (As on August 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 August 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.
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