Stop loss reached position closed for a 33.7% profit

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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October 17, 2023

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EML.AX | High Conviction Report

In early trading today the stop loss was reached for the remaining shares in EML payments (EML) at $1.05. The position has now closed.

The EML share price has continued to weaken despite the overall market recovering from the sell-off in early October when the S&P/ASX 200 (XJO) briefly breached its 6,900-support level.

EML is absolutely a stock we will revisit in the future as we believe the company has further to run to the upside as they continue to restructure following the Covid hangover. But for the time being, the trend has changed

Closed Position

Number of shares purchased: 2,500

Initial buy price: $0.83

First Exit: 1,000 shares at $1.20

Second Exit: 1,500 shares at $1.05

Average Exit price: $1.11

Closed profit: $700.00 or a 33.73% return on funds invested.

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.