Hot stock: Why Resmed’s in Wealth Within’s good books

Medical device company, Resmed (ASX:RMD), is Wealth Within chief analyst Dale Gillham’s top pick in his first HotCopper Hot Stock Tip show for 2024.

Mr Gillham explains why he predicts Resmed – which has a $26 billion market cap – might be on the way up after falling about 50 per cent from near $50 a share in September of 2021.

“Resmed is looking really good,” Mr Gillham said.

“That excites me… when I see a stock fall around 50 per cent in price and then it starts to move up.

“It’s moved from that low, to closing up 25 per cent higher.”

This week, Dale Gillham also discusses ASX-listed companies including uranium play Boss Energy (ASX:BOE), poker machine company Aristocrat Leisure (ASX:ALL), The A2 Milk Company (ASX:A2M), as well as Alumina (ASX:AWC), which made gains after Alcoa’s decision last week to cease production at the Kwinana alumina refinery south of Perth.

Sayona Mining (ASX:SYA) gets named as Mr Gillham’s ‘not hot’ stock pick for the week and he presents reasons why despite significant falls, SYA may not yet have hit the bottom.

“It’s a really good stock to look at it because it can be volatile and move,” he said.

“So if you’re a good trader, you can get in the stock and make some really good money quite quickly – if you’ve got the right knowledge and the right skills and the right buy signals and obviously the right trading plan.”

He also warns investors about FOMO: Fear of Missing Out when large volumes are trading.

For more from Dale Gillham and senior investment analyst Janine Cox, you can also see the interactive Wealth Within TV live on YouTube every Tuesday at 7pm (AEDT).

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