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Value Model Portfolio Rebalancing EXIT (ASX: STO) and ENTRY (ASX: SFR)

Mar 31, 2026 | Team Kalkine
Value Model Portfolio Rebalancing EXIT (ASX: STO) and ENTRY (ASX: SFR)
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  • STO:ASX
  • Investment Type
    Large-cap
  • Risk Level
  • Action
  • Rec. Price (AU$)
  • SFR:ASX
  • Investment Type
    Mid - Cap
  • Risk Level
  • Action
  • Rec. Price (AU$)

1. Exit Case: 

Overview Santos Limited (ASX: STO) is an Australian oil and gas exploration and production company headquartered in Adelaide, South Australia. Founded in 1954, it is one of Australia’s largest domestic suppliers of natural gas and liquefied natural gas (LNG), with operations across Australia, Papua New Guinea, Timor-Leste, and the United States. Santos owns and operates oil, gas, and LNG assets both onshore and offshore, supplying domestic markets and exporting LNG primarily to Asia.

STO has been a part of the ‘Value Model Portolio’ since 03 November 2022, however, considering the recent rally, trading near the resistance in the stock, support & resistance levels, and ~4.54% upside from the entry price, an ‘Exit’ is recommended from the stock near the resistance of AUD 8.175, as on March 31, 2026 at 10:30 AM AEDT. Including the dividend per share of AUD 1.328 since entry, STO delivered 21.5% overall returns since entry.

Santos Limited (ASX: STO) part of Kalkine’s Value Model Portfolio has reached near its resistance level around which an exit case emerges. 

1.1 Santos Limited (ASX: STO)

One Year Technical Price Chart (as of 31 March 2026). Source: REFINITIV, Analysis: Kalkine Group 

2. New Entry Case: Sandfire Resources Ltd (SFR.AX) 

3. Overview: Sandfire Resources Ltd (SFR.AX) is an Australian mining company with a core focus on the exploration and production of copper and gold. The company operates a diversified portfolio of mining and exploration assets with a strategic emphasis on high-quality, low-cost projects.

4. Technical Analysis: On the daily chart, SFR continues to trade above a key horizontal trendline support, preserving a stable upward price structure. The 14-period Relative Strength Index (RSI) at 40.40. However, the stock is trading below its 21-period Simple Moving Average (SMA), which is acting as dynamic resistance. 

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 closing market price of AUD 15.85, as on March 31, 2026.

 Source: REFINITIV as on 31 March 2026

Sandfire Resources Ltd (SFR.AX) has been identified as the new entry to our Value Model Portfolio.

2.1 Support and Resistance Summary as on 31 March 2026

2.2 One Year Technical Price Chart (ASX: SFR)

One Year Technical Price Chart (as of 31 March 2026 ). 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 (31 March 2026).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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Past performance is not a reliable indicator of future performance.

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