The earnings season in full swing for the Australian market and so many companies reporting results and share prices swinging wildly on news we are running late in publishing the closed recommendation for Paladin Energy (PDN).
In trading on Wednesday morning, the $1.20 stop loss level was reached, and the share sold. The uranium price peaked at over $100 and has now started to fall and the share price of PDN has followed the move lower in the Uranium price.
The stock continues to pull back, so we are happy to sit on the side lines and brace for another opportunity if/when it arises.
Closed position Result
Number of Shares Purchased: 3,000
Initial buy price: $1.02
Exit Price: $1.20
Position closed for a Profit of $540.00 or an 17.65% return on funds invested
