Superloop: Ready To Roll

Technicals | Dec 01 2020

This story features SUPERLOOP LIMITED. For more info SHARE ANALYSIS: SLC

By Michael Gable 

Three weeks ago, we saw the Nasdaq get roughed up for a day or so and that apparently was the start of a great rotation out of growth stocks and into value. However, this proxy for growth, the Nasdaq, has once again traded to an all-time high. Are we seeing a rotation out of growth into value, or are we merely seeing value catch a bit of buying from new money, not necessarily money coming out of high-growth stocks?

It is something worth being wary of and one shouldn't be too caught up with the cut-and-paste articles in the media who have all jumped onto the same bandwagon. We still remain positive on growth, cyclicals, and the ‘reopen’ trade here.

In today's research, we have looked into Superloop ((SLC)).

Since bottoming out in October, SLC has put in a few higher highs and lows. Strong price action these last few days is also telling us that it wants to rally further from here. It now looks like a buying opportunity where – as a minimum – we should see a retest of the August peak.

Content included in this article is not by association the view of FNArena (see our disclaimer).
 
Michael Gable is managing Director of  Fairmont Equities (www.fairmontequities.com)

Fairmont Equities is a share advisory firm assisting Private Clients with the professional management of their share portfolio. We are based in the Sydney CBD but provide services to private clients across Australia. We believe that the concepts of fundamental analysis and technical analysis of stocks are not mutually exclusive. Regardless of whether you are a trader or long term investor, combining both methods is crucial to success. As a result, the unique analysis of Fairmont Equities is featured regularly in the media such as Sky News Business, CNBC, The Australian Financial Review, and the ASX newsletter. Contact us for a free trial of our research and information on our portfolio management services. 

Michael is RG146 Accredited and holds the following formal qualifications:

• Bachelor of Engineering, Hons. (University of Sydney) 
• Bachelor of Commerce (University of Sydney) 
• Diploma of Mortgage Lending (Finsia) 
• Diploma of Financial Services [Financial Planning] (Finsia) 
• Completion of ASX Accredited Derivatives Adviser Levels 1 & 2

Disclaimer

Fairmont Equities Australia (ACN 615 592 802) is a holder of an Australian Financial Services License (No. 494022). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.
 

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For more info SHARE ANALYSIS: SLC - SUPERLOOP LIMITED