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 18 November 2024. You can access the full version of the article HERE.

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Buy Recommendations

ASX:FMG

There are strong indications on the charts that FMG has bottomed and is ready to head higher again. After bouncing strongly in September, FMG then faced some selling pressure, but we can now see that it has held up very well in the past few weeks. Instead of falling back to the September low, it has essentially trading sideways in a tightening range before breaking out again. This means that it should be getting back into an uptrend.

ASX:MQG

After some soft first half numbers in early November, MQG shares took a dip, but appeared oversold in our opinion. Guidance is often conservative and this makes the dip a buying opportunity. Good support is once again stepping in for this stock and the shares should trend to new highs along with the broader market.

Hold Recommendations

ASX:360

This technology stock continues to grow earnings here as well as in the US where the company is continuing to expand. The share price charts also show a stock that is trending very well and upwards momentum remains intact.

ASX:CAT

This technology business has a stock chart that is trending very well. Any pullbacks result in the price bouncing off the 50 day Moving Average before it resumes the uptrend again. Revenue growth remains strong as the business continues to expand into overseas markets.

Sell Recommendations

ASX:AGL

Earnings have been downgraded recently as contracts for cheap coal and gas supply roll over for this energy utility. The risk is that this continues for a while yet and as a result, the shares have now entered into a downtrend with large volumes being sold on the way down.

ASX:DMP

We continue to be bearish on DMP due to earnings downgrades and a down-trending share price chart. We can now throw into the mix a departing CEO. There is likely to be more paid ahead for shareholders before the business can turn itself around.

 

Michael Gable is managing director of Fairmont Equities.

 

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