Long
Adbri - Ascending Triangle - Approx 17% upside
Not my fav set up here but looks a fairly high probabilty trade.
Technicals - Ascending triangle formation, entry on triangle break with bullish candle confirmation.
Fundamentals - materials sector is expected to get plenty of activity from various government stimuli, plus, low interest rates environment is beneficial. Additionally, the market expected a much weaker outcome as a result of the coronavirus pandemic, and as a result a further bounce in share price is a decent probabilty.
Technicals - Ascending triangle formation, entry on triangle break with bullish candle confirmation.
Fundamentals - materials sector is expected to get plenty of activity from various government stimuli, plus, low interest rates environment is beneficial. Additionally, the market expected a much weaker outcome as a result of the coronavirus pandemic, and as a result a further bounce in share price is a decent probabilty.
Trade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.