KGF trade ideas
Long Kingfisher - strong fundamentals and down-side protectionAmazing stock that has started to rally 10% since new CEO has been appointed.
The stock had dropped from a few years support due to under-performance by previous CEO. The stock is ready to pick-up again and reach the old support channel.
The stock has strong down-side protection. The real estate of the company is valued almost as much than the current market cap while no debt. Therefore, even in the very worst case you keep huge part of your money. However, the up-side is huge a recent sum-of-the-part valuation indicated that the stock should fundamentally be worth 2.5x current share price
KGF - Buy - Wolfe WaveHere we have another Wolfe wave (been a few cropping up lately) with a price projection of 377, a 15% increase from current levels. Personally I will be looking for an entry @ 225 with stops below recent low, alternatively waiting for a break with a close from falling wedge would be another point of entry.