ASX looks headed towards the $38 region | Gary Glover | Finance News Network

ASX looks headed towards the $38 region

by Gary Glover

With Equity markets running hot at the moment, most stock market related stocks have been running firmly, MQG, CPU, PPT etc are all benefitting from a strong Equities market.  ASX is one that might be joining the party a tad late but the recent move up following a three wave consolidation suggests this stock should rally back towards the $38 price region.
With a yield close to 5% fully franked and a P/E around 18 times its not overly expensive compared to alot of its peers.

Disclaimer

Gary Glover is an Authorised Representative (Rep No. 259215) of Novus Capital Limited ("Novus"). Novus is a holder of Australian Financial Services Licence No 238 168. Novus, its directors, officers, associates and employees each declare that they, from time to time, may hold interests in financial products and/or earn brokerage, commission, fees or other benefits from financial products mentioned in this e-mail or attached documents. Unless specifically stated within this page or an attached document, any information communicated by this e-mail constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised and also may change without notice to you, particularly if based on past performance or relate to a future matter.