The ASX (ASX:ASX) is the hot stock tip from Wealth Within’s chief analyst Dale Gillham and senior analyst Fil Tortevski as they study trade movement charts this week.
“It is really primed to make some moves, but it is still a little early,” Mr Tortevski said.
“We’re either going to bust out up or bust out down!”
Corporate actions are key
Mr Gillham said the ASX has lacked corporate actions in recent times.
“A lot of people think with the ASX it makes money out of brokerage,” Mr Gillham said.
“And whilst it does, that’s a very small percentage of what it makes money out of – the reason why the ASX is going into these tight ranges and has fallen away for quite a while since the GFC, is simply because of corporate actions.
“They make more money out of corporate actions than they do on the actual trading.
“In the next couple of years we’re going to see a lot of corporate actions, we’ve seen almost none over the last 12 months to 2 years.
“As the market starts ticking over there’s already talk of more corporate actions that are coming up, so this is where the ASX is going to start making money.”
The ASX last traded up 0.38% at $65.63 (2.50pm AEST).
‘Proceed with Caution’ & ‘Not Hot’
Also on today’s Wealth Within HotCopper show, US, Brazil and Australia oil and gas play Karoon Energy (ASX:KAR) (which last traded at $1.61) gets the ‘Proceed with Caution’ pick; and, energy infrastructure company, APA Group (ASX:APA), gets slapped with the ‘Not Hot’ tip – it was down 1.2% today at $7.39 (2.50pm AEST).
The show precedes Wealth Within’s live YouTube show at 7pm AEST tonight.
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
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