Wealth Within chief analyst Dale Gillham and senior analyst Fil Tortevski have named this week’s HotCopper Hot Stock tip: Real estate group Stockland (ASX:SGP).
While Stockland has dipped up and down recently, Mr Tortevski conceded, things are “looking different” this time around – especially because there’s been strong buying as the real estate group eeks towards its price highs to end the year.
“We’ve had the opportunity for people to say they don’t want to see high prices but it is really a bullish market,” he explained. “If we can get a break… the market could break into a trend.”
Stockland has already surged from $3.95 last December to $5.17 today.
A good time to strike, Mr Tortevski mused, would be somewhere around $5.50 and up.
Mr Gillham warned not to get too caught up in Stockland’s resistance blocks as a perfect place to buy, but added he “does love this hot stock” for the week.
Proceed with Caution
Today’s “Proceed with Caution” stock is Coles Group (ASX:COL) – which has, of course, been battered in the media recently as it faces the Australian Competition & Consumer Commission (ACCC) over claims it (as well as its consumer archrival Woolworths (ASX:WOW)) misled consumers with “illusory” discounts.
“It recorded some good numbers recently, but why it’s a caution to me is that overriding $9.20 level,” Mr Tortevski said when looking at the COL charts. “Since August 2020 this level has been so strong in holding [off] any further upside.”
There has been some success to be had since mid-2023, the Wealth Within senior analyst admitted, but that boat may have already left the harbour.
Coles last traded 1.1% higher today with shares selling at $18.38.
Not Hot
Endeavour Group (ASX:EDV) is the “Not Hot” stock tip this week, with Mr Gillham and Mr Tortevski both dubious that its heavy November slide will turn around.
The retail group has dropped to $4.39 a share today.
“It’s a pretty clear indication about where it wants to go next,” Mr Tortevski added.
Mr Gillham was quick to suggest professional traders may still be interested in the struggling retail drinks and hotels business, but warned “retail traders” away from getting involved in Endeavour right now or any time soon.
“This is another stock that says it’s going down,” he explained, “after an all-time high not that long ago – this stock is probably heading for $2 something.”
This show comes in the lead-up to Wealth Within’s live YouTube show tonight at 7pm AEDT.
You can join conversations on Wealth Within’s tips on HotCopper here.
Dale Gillham is Chief Analyst at Wealth Within and international bestselling author of How to Beat the Managed Funds by 20%. He is also the author of Accelerate Your Wealth—It’s Your Money, Your Choice, which is available in bookstores and online at www.wealthwithin.com.au.
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