Closed for a Small Profit – Stop Loss Reached

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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February 22, 2023

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ATEC.AX | High Conviction Report

In early market trading today, the share price of the BetaShares S&P/ASX Australian Technology ETF (ATEC) reached the stop loss level of $16.60, and the position has been closed for a small profit.

Overall, the Australian and Global markets look to have become concerned again that interest rates may not have peaked, and central banks may have to keep tightening to bring inflation under control.

So in the current environment, bond yields are on the rise again, and investors have switched out of technology stocks and back to cash.

Given this, it’s prudent to be out of this Exchange Traded Fund (ETF) for a small profit. This ETF is absolutely one we will have another position in at some point in the future because technology stocks will eventually come roaring back.

Closed position result

Number of Shares Purchased: 600

Initial buy price: $16.21

Exit Price: $16.60

Dividend: $0.0667

Position closed for a Profit of $274.02

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.