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My comments re the XAO’s move up last week and what it means for the market were a bit more extensive than usual, can be found on my Stock Commentary page - click here.

The XAO’s 2.7% rise was reflected in my own trades which rose 3.7%. The best performers were SLR (+18%), EVN (+9%) and FPH (+6%). The only stock to fall was SGM (-0.02%). My only transaction for the week was to top up FPH.

Updating my Stocks to Watch proved problematic this week. My picks from last week rose 4.5% on average with SLR the standout performer (up 18%). From 7 new contenders for listing NCM and PLS had the strongest patterns and appear this week. All my prior listings still show potential to rise and none have been deleted. Two stocks that readers might want to look at which almost made the cut were COH and TCL.

The chart of GOLD closed above a downtrend line and assuming next week stays above that level then the chances of GOLD having bottomed and now moving up again are good (but not guaranteed).

One week of good rises is not a rally and investors/traders need to be very cautious about succumbing to FOMO and leaping into what remains a volatile market.

Contact

Robert Norman

Phone: 0428 346 951
Email: robert@sharecharting.com.au

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