Professional traders Dale Gillham and Filip Tortevski have delivered their weekly hot stock tips once again, and as always, this one’s not to be missed!
Both men may have opposing views on footy teams Collingwood and Geelong respectively, but when it comes to Stanmore Resources (SMR) they agree that it kicks the right goals as the latest ‘Hot Stock’ pick of the ASX bunch.
The current share price has shown recent signs of a breakout suggesting the long term uptrend could continue for what Filip Tortevski describes as a “super exciting stock”.
Proceed with caution is Deterra Royalties (DRR), a stock for which Dale Gillham said the maxim of “If in doubt get out” was probably prudent at present.
Gillham endorses Tortevski’s view that Deterra holds potential as a long-term prospect showing “signs of life but waiting for that confirmation, so keep it on your watchlist and sit tight – because you might find it a good one in a couple of months”.
At the other end of the food chain is the not so hot stock for this week: Fletcher Building (FBU), which may seem like an anomaly according to Dale Gilliham considering building and construction sector is booming and short in supply tradies are charging a king’s ransom.
“There are no signs of life (with FBU) and their share price was last at an all-time high at the peak of the GFC in July 2007. Something is going systematically wrong within this stock. Obviously, we need to look at what it is, but right now I think it’s heading for a washout,” Dale Gillham said.
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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