The trend continues higher – 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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April 21, 2023

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AX1.AX | High Conviction Report

Given the recent move higher in the Accent Group (AX1) share price, it is prudent given current market conditions to increase the stop loss level.

By increasing the stop loss level to $2.45, should the recent strong technical pattern breakdown, we will be able to lock in a $0.13 profit. This is a classic example of letting your profits run while removing downside risk.

TRADE ACTION
Stop Loss: Increase to $2.45 from $2.00
Target Price: No change target price remains at $2.90

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.