Take profits Increase Stop Loss

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.

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September 26, 2023

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High Conviction Report | URNM.AX

With the increase in the price of Betashares Global Uranium ETF (URNM) to $8.88 today it is time to lock in profits on part of the position and increase the stop lo

The price of uranium has increasing from $56.75 USD/Lbs on the 11^th of August 2023 to $65.50 USD/Lbs today. Based on the price today that is a five year high for uranium.

With tight supply, there is the potential for the uranium price to continue to move higher, so we are only selling half the position to lock in profits.

TRADE ACTION

Stop Loss: – Increase stop loss level from $5.50 to $7.75.

Take Profits: Sell 500 shares at market current price $8.88.

CLOSED HALF OF THE POSITION PROFIT RESULT

Number of shares: 500

Initial buy price: $6.49

Exit price: $8.88

Profit on closing half of position: $1,195

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.