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The XAO has continued its sideways drift of 10 weeks and shows little conviction. However, if it can break and close above 6320 with some volume a target of 6800 is quite likely. With the ASX reporting in full swing and Covid19 still lurking in the background, a move up probably will require some positive news on one or both of those fronts.

The week provided me with a wild ride on a trade in MSB which I closed out for and 11% profit. I also bought AWC and details of both trades can be seen in Stock Commentary.

Starting this week I thought I’d also identify a couple of stocks which show potential to be profitable trades. PPS and ORI, are analysed in Stock Commentary. Note that my analysis is provided purely for educational purposes and should not be construed as advice to deal in any particular stock.


XAO 16Aug2020


Robert Norman

Phone: 0428 346 951

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