1. Exit Case: Domino’s Pizza Enterprises Limited
Overview Domino’s Pizza Enterprises Limited (ASX: DMP) is one of the largest franchisees of Domino’s outside of the United States. The company holds the master franchise rights to the Domino’s brand and network in various countries.
DMP has been a part of the ‘Value Model Portfolio’ since 25th May 2023, however, considering the recent rally, trading near the resistance in the stock, support & resistance levels, and ~20.42% upside from the entry price, an ‘Exit’ is recommended from the stock near the resistance of AUD 55.02, as on (21st November 2023 at 2.52 PM AEDT).
Domino’s Pizza Enterprises Limited (ASX: DMP) part of Kalkine’s Value Model Portfolio, has reached near its resistance level around which an exit case emerges.
1.1 Support and Resistance Summary as provided in our last published report dated 15 June 2023.
1.2 Domino’s Pizza Enterprises Limited (ASX: DMP)
One Year Technical Price Chart (as of 21st November 2023). Source: REFINITIV, Analysis: Kalkine Group
2. New Entry Case: Orica Limited
2.1 Overview: Orica Limited (ASX: ORI) is an ASX listed mining and infrastructure solutions provider. It produces and supplies explosives, blasting systems, geotechnical monitoring, and mining chemicals.
Technical Analysis: On the daily chart, ORI prices are trading above the falling trendline support zone and trading above the trendline. Moreover, the momentum oscillator RSI (14-period) is showing a reading of ~58.95 level. Further, the prices are trading above the trend-following indicator 21-period SMA, which may act as a support zone. An important support level for the stock is placed at AUD 13.70 while the key resistance level is placed at AUD 18.00.
Considering the above mentioned factors, technical analysis, support & resistance levels, key risks and outlook an ‘Entry’ is recommended in the ‘Value Model Portfolio’ at the close market price of AUD 15.68, as on (21st November 2023).
Source: REFINITIV as on 21st November 2023
Orica Limited has been identified as the new entry to our Value Model Portfolio.
2.2 Support and Resistance Summary as on 21st November 2023
2.3 One Year Technical Price Chart (ASX: ORI)
One Year Technical Price Chart (as of 21st November 2023). Source: REFINITIV, Analysis: Kalkine Group
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 (21st November 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
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.