ACL trade ideas
ACL LongWill allocate in the coming days if
- price stays above fib level (red-line closest to current price)
- for thesis to stand, price must not break pink trend-line (call it a 'mental trend-line' if you will)
- Volume profile suggests, if price can remain above shaded yellow zone, we could see a rise to 490
Arcelomittal SA LTD Trading opportunityThis stock is likely to shoot sky high from 322 to 466 if this count is correct the TP target will be achieved within 1-2 weeks
Another Opportunity To Buy ArcelorMittal Steel ACL has performed well since our last suggested idea (..If you're looking at small caps, this one could offer a nice little punt if the momentum stays in place..) suggested from around 310c (23-July), and in the process has broken out of the channel formation in place since September 2016. The price has since retraced to trade near the top of the channel, giving traders another opportunity to take a buy/long position. I am looking at 330c down to 315c as a potential accumulation level, using a stop-loss of 260c and an open target. (Medium Term Buy)
Lester Davids, Trading Desk Analyst - Unum Capital
