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Global copper producer Sandfire Resources (ASX:SFR) is Wealth Within’s ‘Hot Stock’ pick today.
Wealth Within senior analyst Filip Tortevski talks through charts which, he says, suggest Sandfire could be primed for growth and possibly ‘new all-time highs’.
Sandfire has been trading above $9 today.
The ‘Proceed with Caution’ stock is Centuria Industrial REIT (ASX:CIP), which has been trading above $3.10 this afternoon.
“Why it’s a caution to me is its now faulted into this sideways move, you can see the highs getting lower and the lows getting higher,” Mr Tortevski said.
“Now we know from when the market makes these kinds of patterns, that one of three things can happen, it can stay stuck sideways until it breaks directional.
“The question is it more bullish or more bearish?
That’s why it’s a caution for me right now.”
The ‘Not Hot’ stock is Tabcorp Holdings (ASX:TAH) which has been trading around 56 cents this afternoon.
He also mentions last week’s top performers including WiseTech Global (ASX:WTC); Judo Capital Holdings (ASX:JDO); and, Charter Hall Group (ASX:CHC).
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.
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