Page 27 - Michael Gable News Today : Breaking News, Live Updates & Top Stories | Vimarsana

By Michael Gable  US share markets have had a rough couple of sessions and this has seen the S&P 500 Index come back to the 50-day moving average. It tends to respect this level fairly well, so it will be interesting to see what happens tonight – whether it bounces off that level, or falls through it. Clearly, a break under that would be a negative for markets so our advice is to keep an eye on what happens tonight. It may well bounce off that, so it is too early to get bearish, we just need that extra day or so to see how it trades. Domestically, the S&P/ASX 200 Index is likely to breach...

Harvey Norman On The Move By Michael Gable  In this week's research, we have identified a household name, Harvey Norman Holdings ((HVN)), which has recently dipped lower but is ready to get rallying again. After easing back across March – May, we can see that HVN then levelled out. It put in a higher low in June and also made it clear that $5.40 was a key resistance level. In the last few days, we have seen HVN break above resistance and start to move higher. It is therefore clear that the stock is ready to trend higher again and this breakout from the last few days is a buying opportunit...

By Michael Gable  Recent events have seen a resurgence in share prices of so called "COVID beneficiaries". However, some of these stocks were already on the move before the recent Sydney lockdown. We have a chart this week on [PPE manufacturer] Ansell ((ANN)). We looked at ANN at the start of May and noted that it was likely to dip back to $40 before it got going again. We can now see that the recent consolidation is over and ANN is now breaking higher (circled). The chart looks bullish and ANN looks like a buying opportunity for investors here, as it is still at the start of its next rally...

Michael Gable of Fairmont Equities is keen on cyclicals as the ASX200 pushes higher and notes Bega Cheese is on the move.

By Michael Gable  In this week's report, we have identified an opportunity in  Treasury Wine Estate ((TWE)). The overall trend for TWE is still down and volatility is still quite high, but it looks like we have a short-term trading opportunity. Across April and early May, we had a situation where the trading ranges of TWE were tightening up. This then led to a breakout last week on strong volume. This means that TWE is likely to go for a run here. If it can get through the February peak, then we would be looking at a retest of the August high.