28 January 2022

Welcome to a new issue of Stock Take, Stockfox’s weekly share market update. Even though it’s still early in the year, the share markets have been busy, so here’s a look at what’s new.

Market Overview

After hitting an all time high at the start of 2022, the ASX market has only been declining since and recently broke through the 7200 mark. This is mainly due to weakness in resource and mining stocks, which are reacting to rapidly rising oil prices.

Energy is one of the biggest costs of any mining operation, and therefore higher prices is likely to impact their profitability. However, with these stocks significantly decreasing, it is bound to bounce back once investors believe it is undervalued. Keep your eyes peeled and wait until a recovery has started after reaching a low point.

Tip of the Week

This week’s tip of the week is for a NZX-listed pharmaceutical distributor and developer of pharmaceutical intellectual property. The company’s share price has hit a key support line for the third time, indicating that its recent period of weakness is coming to an end.

See the tip here.

Top Tips

We’ve issued four new tips so far this week. While Oceania Healthcare and Codan have been affected by the price decreases felt across much of the market in recent days, we continue to monitor them closely and recommend holding at this stage. We remain confident in our Insteel Industries tip and have high hopes for AFT Pharmaceuticals given what we believe is a marked undervaluation.

As for our top tips, let’s head over the Tasman to see what our best performing ASX-listed companies over the last three months are.

See the performance of all Stockfox tips here.

NB: These are examples of just some of Stockfox trading recommendations. They are not a reflection of the success of all Stockfox tips, nor are they necessarily an indication of the success of any future Stockfox tips. If you act on our advice, there is no guarantee as to the repayment of your investment or any particular rate of return.

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