Exit Case: Australian Strategic Materials Limited (ASX: ASM)

Overview: ASM is an Australia-based materials technology company. The company primarily focused on producing speciality metals and oxides from the Dubbo Project. ASM has been a part of the 'Momentum Model Portfolio' since January 27, 2023 and the suggested resistance level of AUD 2.300 was achieved and stock made a high of AUD 2.630 on February 06, 2023. Therefore, an 'Exit' recommendation has been provided on the stock at AUD 2.520 February 06, 2023.  at 3:40 PM, GMT+11) Time in Sydney NSW, Australia. 

ASM’s Daily Chart

New Entry Case: AUB Group Limited (ASX: AUB)

Overview: AUB Group Limited, formerly Austbrokers Holdings Limited, is an Australia-based company, which is an equity-based risk management, advice and solutions provider in Australia and New Zealand.

Technical Analysis: On the weekly chart, AUB’s prices are sustaining above a downward sloping trend breakout level for the past couple of weeks, indicating the possibility of a further upside movement hereon. Prices are also making higher lows and higher highs formation, supporting the positive bias. Moreover, the momentum oscillator RSI (14-period) is showing a reading of ~67.99 levels, and prices are trading above the trend following indicators 21-period and 50-period SMA, indicating the possibility of an upside movement hereon.

AUB is recommended as a new entry in the 'Momentum Model Portfolio' as on February 06, 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 24.67 as on February 06, 2023. 

AUB’s Weekly Chart

Support and Resistance Summary (As on February 06, 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 February 06, 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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