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2650 historical support was recently broken here, so now becomes a bit of a weak resistance point. If the FTSE closes out near to 6200 today and RIO closes above 2670 then 2650 should become the long term support level once again and this stock can start to move on upwards. Pivotal day today.
for a much overdue market correction. I think the 200 day ma should have held and this sell off is now overdone. Hope I'm right. Happy to trade this stock between 2650 - 3200 over the coming months to November before the winter seasonal high of 3700+ hopefully. BUY. GL.
$41.53 = £26.94 Hoping for some calm next week and a bounce from current levels. £26.50 long term support still in tact. I think this stock will totter along for the next 2 or 3 months between £26.50 - £ 32.00. Should be some good trading opportunities from that range. GLA.
I sold all my Lloyds shares last month for 60p because I could see this pull back to 6230 coming. I had a buy back target of 54p ( gap fill from about 8 weeks ago). The markets have retraced nicely including ALL Banks apart from Lloyds. Why is that? Is it set to fly? or Is it being propped up by this HMG sell off price of 61p? I suspect its a combination of the two, but as a result I have now bought into here as my second choice stock to Lloyds. STAN is good value with good potential upside also. If RIO steals a few % lead over Lloyds, I will likely sell half and get into Lloyds that way.
Its entrenched between 59.5p - 63.5p and I think that range will hold for now. But, it may not go any higher, because 61p is HMG's target to start the sell off, so why would investors want to pay more now? Just a thought.