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).
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