1. Exit Case: Premier Investments Limited
Overview Premier Investments Limited (ASX: PMV) holds investments in retailing businesses in Australia, New Zealand, Asia, and Europe.
PMV has been a part of the ‘Value Model Portolio’ since 15th August 2023, however, considering the recent rally, trading near the resistance in the stock, support & resistance levels, and ~17% upside from the entry price, an ‘Exit’ is recommended from the stock near the resistance of AUD 25.53, as on (22nd August 2023).
Premier Investments Limited (ASX: PMV), 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 August 2023.
1.2 Premier Investments Limited (ASX: PMV)
One Year Technical Price Chart (as of 22nd August 2023). Source: REFINITIV, Analysis: Kalkine Group
2. New Entry Case: South32 Limited
3. Overview: South32 Limited (ASX: S32) is a diversified mining company with operations in alumina, aluminum, coal, manganese, nickel, silver, lead, and zinc.
Technical Analysis: On the daily chart, S32 prices are trading above the horizontal trendline support zone and trading above the trendline. Moreover, the momentum oscillator RSI (14-period) is showing a reading of ~42.09 level. However, the prices are trading below the trend-following indicator 21-period SMA, which may act as a resistance zone. An important support level for the stock is placed at AUD 3.20 while the key resistance level is placed at AUD 4.35.
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 price of AUD 3.73, as on (22nd August 2023).
Source: REFINITIV as on 22nd August 2023
South32 Limited has been identified as the new entry to our Value Model Portfolio.
2.1 Support and Resistance Summary as on 22nd August 2023
2.2 One Year Technical Price Chart (ASX: S32)
One Year Technical Price Chart (as of 22nd August 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 (22nd August 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.
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