The local share market keeps treading water, trying to stabilise while keeping a watchful eye on whatever happens on Wall Street, but at least stockbroking analysts are responding in the most positive manner: by issuing recommendation upgrades for weakening share prices.
For the week ending Friday, 19th October 2018, FNArena registered no less than 21 upgrades for individual ASX-listed stocks, versus two downgrades only. So which stocks still received downgrades?
Actually, there is only one. Jewellery retailer Michael Hill cannot shake off the habit of releasing disappointing market updates and this time yet another tough admission has been met with two downgrades. Both went to Sell, or an equivalent of Sell.