It’s our last Super Stock Selectors survey for 2016, so what are the experts watching as we approach the New Year?
For the second week running, Raymond Chan of Morgans likes blood plasma and vaccines company CSL. He says the recent share price weakness, following Trump’s election victory, has been overdone.
“We see long term value here,” he notes. Switzer Super Report expert Paul Rickard has also lent his support. He feels that the both CSL and Cochlear (COH) are in the buy zone.
At the time of writing, CSL was trading at $97.84. That’s down from a 52-week high of $121.25 back in July. CSL previously closed at $96.93.
CSL Limited (CSL)
Source: Yahoo!7 Finance
Chartist Gary Stone likes automotive retailer, Automotive Holdings Group (AHG), after it finally bounced higher from a significant support zone.
“After a false breakout in August this year – which further extended the range in which AHG has been moving sideways since March 2013 – AHG’s share price has retraced to a significant support zone between $3.30 and $3.50, from which it has bounced higher.”
He says there’s a high probability that AHG will rise to a resistance zone between $4.25 and $4.35, and potentially even higher.
“This is supported by AHG’s low trailing PE Ratio of 13.2 and high dividend yield of 5.8% at its current price of $3.87.”
Automotive Holdings Group (AHG)
BeyondCharts.com
Our Stock Selectors nominated Regis Healthcare (REG) and Fisher & Paykel Healthcare (FPH) for the dislikes list this week.
While Chan remains concerned about Regis’ regulatory risks, Stone’s brickbat stems from the behaviour of Fisher & Paykel’s share price.
“The FPH share price has fallen below a key support zone between $8.10 and $8.30,” he notes.
“There is a high probability that it will fall further to the next support zone around the $6.90 area, which would complete a 38.2% retracement of the strong four year up-trend up to August this year.”
Fisher & Paykel Healthcare Corp (FPH)
Source: Yahoo!7 Finance
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