Aristocrat (ALL) is a global gaming company that’s increasingly expanding from poker machines to online gaming.

“Its share price took a hit late last year to early this year as rising bond yields adversely affected high growth stocks such as ALL,” said Michael.

“What is interesting, however, is that the ALL share price bottomed in May, a month before the broader market.

“This is a very bullish sign.

“Since then, it has broken the downtrend and has put in a couple of higher highs and lows.

“It should continue to slowly move higher from here and this bounce off $34 is a buying opportunity.

“There is major resistance near $38, so if ALL can clear that, then the pace of the uptrend should then accelerate.

“A fall under $32 would be viewed as a negative in my opinion,” Michael said.

Aristocrat Leisure Limited (ALL)

Important: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. Consider the appropriateness of the information in regards to your circumstances.