Bell Financial On The Move

This story features BELL FINANCIAL GROUP LIMITED. For more info SHARE ANALYSIS: BFG

By Michael Gable 

Last week, we described the recent dip in markets as a panic driven flash crash that shouldn’t lead to a much larger correction. So far markets seem to be holding on fairly well.

Volatility has died down but it still looks like it might spike again over the next few days. Gold and oil also seem to be on move, which is something we highlighted several weeks ago. In terms of the broader market though, we are not completely out of the woods, but we maintain our view that any dips from here would be a buying opportunity.

We offer our technical view on Bell Financial Group ((BFG)).

After a strong move at the end of 2023, BFG then spent the first half of this year consolidating that move by trading sideways. It broke higher at the start of July, but recent weakness has seen it fall back.

We can see, however, that this weakness from the past few weeks has resulted in a retest of that breakout line with BFG now successfully bouncing off that.

This is therefore a buy signal and BFG is a buying opportunity as the stock should continue to trend higher from here. Traders can look to place their initial stops just under $1.39.

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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