The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Gold and copper producer Silver Lake Resources (ASX:SLR) has Dale Gillham and Filip Tortevski’s vote for ‘Hot Stock’ status this week.

“The reason why this one is very interesting to me: Obviously the market’s down in April, and this one’s bucked the trend completely,” Mr Tortevski said.

“When you start to see a stock hit a level that you anticipate, and then start to form those higher highs and higher lows, really telling you that hey, the sellers are out of steam here and the buyers are showing that they want to push higher.”

Silver Lake was trading around $1.43 (April 22).

Whitehaven Coal (ASX:WHC) is Wealth Within’s ‘Proceed with Caution’ pick this week.

While it’s showing an uptrend, Filip Tortevski said he’d be comfortable with the stock if it were to break through the $8.40 mark.

The previous all time high was February 2011.

“Perhaps just a little bit too early, I would want a little bit more confirmation because we’ve got this nice level of resistance where the stock’s struggled,” he said.

WHC was trading around $7.80 yesterday.

The ‘Not Hot’ stock this week is Arcadium Lithium Plc (ASX:LTM).

Dale and Filip discuss how not all lithium stocks are going up.

“The chart tells us everything,” Dale Gillham said.

“Fil and I are technical analysts, first and foremost, and that’s why we trust the charts, because its the only unadulterated information you get. It’s clean, it comes from the ASX and it tells you exactly what’s going on.

“So regardless of whether you think lithium’s going to go ballistic in the next 10 years, LTM is going down.”

Arcadium has been trading below $6.


Dale Gillham is Chief Analyst at Wealth Within and international bestselling author of How to Beat the Managed Funds by 20%. He is also the author of Accelerate Your Wealth—It’s Your Money, Your Choice, which is available in bookstores and online at www.wealthwithin.com.au

Disclaimer: While Wealth Within holds an Australian Financial Services License (AFSL:226347) the information featured in this program is general in nature and therefore should not be relied upon. Before making any investment decisions, you should consult a licensed professional who can advise whether your investment decisions are appropriate for you.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

More From The Market Online
The Market Online Video

ASX Market Close: Bourse finishes week on a high as Wisetech pummeled | November 22, 2024

The ASX200 closed up 0.85% at 8,393 points. Economists increasingly expect interest rates in Australia won’t…
The Market Online Video

HotCopper Highlights: Your most watched stocks for Week 47, 2024

In this segment we’ll look at the top stocks HotCopper users have been watching, and discussing,…
Nuclear explosion mushroom cloud concept

Week 47 Wrap: HotCopper users’ most watched; Brent lifts on Putin’s scary letter; RFK dents CSL

Welcome to the end of another week. Let's start with what HotCopper users have been watching…
Dale Gillham's photo, and wording 'Words from Wealth Within's Chief Analyst Dale Gillham.

Dale Gillham’s weekly wrap: Sigma-Chemist Warehouse merger creates pharma powerhouse

The $8.8 billion dollar merger between Sigma Healthcare and Chemist Warehouse is poised to reshape the Australian pharmacy landscape, consolidating power in th…