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 16 November 2020. You can access the full version of the article HERE.

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Buy Recommendations

ASX:TPW

This online retailer continues to see very strong sales growth and a recent drop in the share price is a buying opportunity. Tech stocks look very well supported on the back of the US election result and we expect the rally in TPW to continue from here.

ASX:ALG

Ardent Leisure is a theme park owner. As borders reopen, we expect the theme parks in QLD to experience increased patronage. The share price is gaining some strong momentum and this should continue on through to Christmas.

Hold Recommendations

ASX:WTC

Like most tech stocks, WTC is looking well supported with the US election out of the way. In terms of the chart, there was major resistance near $30 which the shares managed to break through. This means that we should continue to see WTC rally towards its 2019 high.

ASX:CSL

The CSL share price has held steady during the last 6 months but it is now on the move again. The company is well placed to benefit from the rolling out of a COVID vaccine. We expect the share price to continue to recover from these levels.

Sell Recommendations

ASX:PTM

The PTM share price has been a massive underperformer over the last few years and we expect this to continue. The stock still looks expensive compared to peers and the technical chart for it looks ugly.

ASX:WBC

The bank’s FY20 result has shown that the earnings for the bank remain weak. Although the banks in general should benefit from an improving economy, we contend that they are not as leveraged to the upside as they once were, and that there are better opportunities out there in the market.

 

Michael Gable is managing director of Fairmont Equities.

 

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