Share tips – 4 September 2023

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

This post is an extract from the newsletter dated 4 September 2023. You can access the full version of the article HERE.

To stay up to date with our best recommendations, sign up to an 8-week FREE TRIAL of our weekly client research.


Buy Recommendations


Over the past month, IGO was falling quite rapidly towards the bottom of its trading range. The stock is now back near the March lows and finding some very strong buying support. Momentum indicators have also triggered a buy signal. We believe that recent fears over Chinese growth are at extremely negative levels and resource stocks in general are oversold.


The AMC share price has been trending lower since the start of the year. At their recent full year result, guidance was disappointing and the shares were sold down on the day. However, they have bounced back strongly since then. From a charting perspective, there is a high chance that the shares have now bottomed out and are ready to head higher again.

Hold Recommendations


Office property is very unloved at the moment and now is the time to gain exposure to this sector for a contrarian trade. The price action in CHC shares around their results two weeks ago signifies a potential turning point as the market was heavily positioned for more bad news. With their FY result coming in better expected, CHC shares are likely to continue recovering from here.


Despite the negativity around the Chinese economy, iron ore prices have started to rebound in the past couple of weeks. This indicates the smart money is starting to position already for a recovery. FMG is near the bottom of its recent trading range and looks ready to head higher from here along with the recovering iron ore price.

Sell Recommendations


Most analysts are optimistic on TLS here but the price action is telling us another story. Despite Telstra’s recent FY earnings meeting analyst expectations, the share price has been sold off on heavy volume. This implies that all the upside was already priced into the share price.


The insurance industry remains competitive and the market is overestimating the ability of insurers to pass through further price increases. Investment income is also expected to peak here with interest rates. The recent uplift in the share price is as good as it will get.


Michael Gable is managing director of Fairmont Equities.


Current share prices available here.

You can learn more about technical analysis in this article.

 An 8-week FREE TRIAL to The Dynamic Investor can be found HERE.

Would you like us to call you when we have a great idea? Check out our services.

Disclaimer: The information in this article is general advice only. Read our full disclaimer HERE.

Like this article? Share it now on Facebook and Twitter!