Change the stop loss and profit target

Brad Holland

Brad has over 20 years experience in the Australian and US equities and options markets. Brad specialises in equities and options for capital growth, income generation and capital protection. He also specialises in finding opportunities in small to medium cap stocks. Brad holds RG146 - Securities & Managed Investments and Accredited Derivatives Adviser Level 2 qualifications.

December 29, 2021

High Conviction Report | MIN.AX

Today, a very quick update to the stop loss and profit targets on the Mineral Resources (MIN) position.

The High Conviction report only opened a position in MIN back on the 26th of November, and with the increase in the share price on Friday closing at $54.99, we are currently in profit by 23.57%.

The share price has increased faster than anticipated because of

  1. The recovery in the Iron ore price from $85 in mid-November to $120 today
  2. The Lithium spodumene price has remained elevated

We believe that the share price may continue higher, so we do not wish to lock in profits on the entire position at the current profit target of $55.00.

But it is still a good idea to lock in profit on part of the position so we will stager the profit targets and increase the stop loss level

Trade Action

Profit target 1: 100 shares at $55.00

Profit target 2: 100 shares at $62.50

Profit target 3: 100 shares at $70.00

Stop loss: 300 shares at $45.00

This is general advice only. MF & Co Asset Management has not considered your personal financial needs, objectives or current situation. This information is not an offer, solicitation, or a recommendation for any financial product unless expressly stated. You should seek professional investment advice before making any investment decision.

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