Explosive move 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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January 16, 2024

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High Conviction Report | URNM.AX

The share price of URNM has had an explosive move higher in the last five trading days. Increasing from $8.85 on the 9^th of January to close at $10.67 yesterday. That is a 20% move higher in only a few days.

Given the sharp increase we will increase the stop loss from $8.50 to $9.50 to lock in more profit should the trend reverse.

Ideally, we would like to see a consolidation around the current share price before the next move higher.

TRADE ACTION

Current position: 500 shares

Stop Loss: Increase from $8.50 to $9.50

Target: No target price.

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.