Stock tips – 6 November 2018


These stock tips are an extract from our weekly research report, The Dynamic Investor.

You can ACCESS the full report HERE.


Would you like to receive this straight into your inbox each week?

CLICK HERE to receive a massive 8 week FREE TRIAL!


Seven Group Holdings (SVW)


SVW has been in a strong uptrend for the last few years but it has taken a tumble in the last month. Given that this can largely be blamed on the market, there is a chance that it recovers here. Turning to the chart, we can see volume spiking at the lows which indicates strong buying under $17. It also appears as though the 3 wave "abc" decline from the August peak is now complete with wave "c" equal to 1.6x wave "a". SVW should rally from here, with strong resistance coming in near $20. A failure there could see a retest of $16. However, if we overlap that $20 region, then that would indicate higher levels over time.

nearest resistance ~$20, nearest support ~$16

SVW daily chart


Impedimed (IPD)


For the shorter term traders, there might be an opportunity soon with IPD. We have noticed that there was a sharp 3 day rally off the August lows on strong volume (circled). The stock has then been easing back to form a flag on lower volume. When a stock to spend more than two months being sold down yet still unable to overcome 3 days of price action, it indicates a sign of strength. All we need now is a clear move up out of the flag to trigger a buy signal. If that were to occur, then we could be seeing levels up towards the high $0.80's with resistance first coming in near $0.70.

nearest resistance ~$0.50, nearest support ~$0.30

IPD daily chart


Fortescue Metals Group (FMG)


Since the lows in September, the weekly candles for FMG have started to look bullish, with the stock showing good buying support at lower levels on good volume. FMG is close to resistance here at $4.25 but if it can now establish support near $4, then that is the next step for it to prepare for higher levels. If we have now indeed seen a low for FMG, then the first major target will be up near $5.

nearest resistance ~$4.25, nearest support ~$4

FMG weekly chart


TPG Telecom (TPM)


In August, TPM pushed through the January high and then rallied to over $9. It has since come back on lower volume to retest that old high. It now looks like TPM is trying to break out of this recent consolidation. This could result in TPM going for another run in the next few weeks. Traders should consider stops back near $7.

nearest resistance ~$8.50, nearest support ~$7

TPM daily chart


Sandfire Resources (SFR)


We had a neutral stance on SFR last week commenting that "It is still early days but we are seeing the first signs that SFR may stage a rally from here" and "Most traders may wait for a close above $7, or even more conservatively, a close above $7.50. So if you can't quite see the early signs yet, then SFR is one for the watchlist". SFR is now confirming our initial suspicions and has gained over 6% in the last week. With a push through $7, it now looks a bit more certain that SFR is going to rally much further from here. The next level or resistance is $7.50, but clearing that should entice more buying, resulting in a move well into the $8's. Stops for now should remain near $6.50.

nearest resistance ~$7.50, nearest support ~$6.50

SFR daily chart


IRESS (IRE)


From April to August this year, IRE had a fantastic run from under $10 to over $14. Unfortunately it has come back just as quickly and has struggled to bounce with any conviction. There doesn't seem to be any strong support yet so we are likely to see IRE retest the recent lows near $9.50.

nearest resistance ~$11, nearest support ~$10.50

IRE weekly chart


Join thousands of investors who trust and rely on our investment strategies every week!

Enter Your Details Below To receive our newsletter containing Stock Tips and Strategies

You will also receive our free guide on combining fundamental and technical analysis to improve your returns while protecting your portfolio.

As seen in:

Finance media