Share tips and stock recommendations for the Australian (ASX) share market – buy, hold, and sell. Michael Gable is an expert guest commentator for the stock market newsletter thebull.com.au.

This post is an extract from the newsletter dated 14 December 2020. You can access the full version of the article HERE.

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Buy Recommendations

ASX:BPT

We are still bullish on the oil price over the next few months or so and BPT is well placed to benefit from this. Its share price chart also looks very bullish here and recent momentum suggests that the share price has much further to run.

ASX:MQG

We continue to like MQG and a recent consolidation in its share price has provided us with another buying opportunity. We can see support now coming back into MQG shares and this implies that it is getting ready to attempt a run towards its old high near $150.

Hold Recommendations

ASX:BHP

We continue to be bullish on commodity stocks at this phase of the economic recovery. BHP shares have recently been powering through some major resistance levels and this implies that it will attempt to make a run towards previous highs near $45.

ASX:KGN

KGN shares have had a fantastic run this year. However, in the last few months we saw the share price give up some of those earlier gains. Looking at the way the shares are trading on the chart, we believe that much of the heat has been taken out of the stock price and the shares are now ready to head higher again.

Sell Recommendations

ASX:TAH

TAH continues to face competitive pressures in the wagering industry. The share price is also hitting major resistance on the chart and it looks unlikely that it can head higher from here. The thing propping up the share price here is takeover speculation.

ASX:MCP

A recent trading update has seen the share price collapse. It will take time for the share price to recover and at best we can only see it moving sideways for a few months. There will be better opportunities out there in the market.

 

Michael Gable is managing director of Fairmont Equities.

 

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