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<\/p>\nBy Michael Gable <\/p>\n
The latest topic of discussion in financial markets has been the movement in the US dollar. Since the day before the US election, the Australian dollar has dropped almost 6 per cent against the US dollar. If this is the beginning of a weaker Australian dollar again, then some stocks could see some benefit. One stock with various currency exposures is Brambles ((BXB)), which is a stock that we've made some nice profits on before and we have had a look at it again in today's report.
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\nBrambles peaked in July this year and then formed a reversal on the weekly chart. Looking back, we can see that the pullback into the November low was done in five waves. This now appears to be over and we would expect some upside from here in BXB. We should now at least see a 3-wave advance to higher levels, possibly to retest the recent high near $13.50. We would not want to see BXB fall under the low from a few weeks ago.<\/p>\n
\nContent included in this article is not by association the view of FNArena (see our disclaimer<\/a>).<\/em> Michael assists investors to achieve their goals by providing advice ranging from short term trading to longer term portfolio management, deals in all ASX listed securities and specialises in covered call writing to help long term investors protect their share portfolios and generate additional income.<\/p>\n Michael is RG146 Accredited and holds the following formal qualifications:<\/em><\/p>\n • Bachelor of Engineering, Hons. (University of Sydney) Disclaimer<\/em><\/strong><\/p>\n Michael Gable is an Authorised Representative (No. 376892) and Fairmont Equities Pty Ltd is a Corporate Authorised Representative (No. 444397) of Novus Capital Limited (AFS Licence No. 238168). 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.<\/em><\/p>\n
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\nMichael Gable is managing Director of Fairmont Equities (www.fairmontequities.com<\/a>)<\/em><\/p>\n
\n• Bachelor of Commerce (University of Sydney)
\n• Diploma of Mortgage Lending (Finsia)
\n• Diploma of Financial Services [Financial Planning] (Finsia)
\n• Completion of ASX Accredited Derivatives Adviser Levels 1 & 2<\/em><\/p>\n![\"\"](\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/fairmont%20logo(1).jpg\")
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