Centamin PLC (CEY) - Long
Updated
On fundamentals this is one you could bang on about in a manner of ways. From dividends likely, to production rates, to zero debt etc. But, I am not in the slightest bit interested.
On technicals, there is for sure a death cross imminent on the daily. However, it is oversold on the daily and edging towards oversold on the weekly. It also seams to be finding support around the 78.6% fib on the weekly. Which might, just might suggest it is starting to carve a new bottom out.
On the daily it has also dropped significantly twice previously, only to see a bounce of around 15%. And that is what interests me? Because there is a chance that it might repeat again.
100% technical trade with a 2:1 risk/reward ratio.
On technicals, there is for sure a death cross imminent on the daily. However, it is oversold on the daily and edging towards oversold on the weekly. It also seams to be finding support around the 78.6% fib on the weekly. Which might, just might suggest it is starting to carve a new bottom out.
On the daily it has also dropped significantly twice previously, only to see a bounce of around 15%. And that is what interests me? Because there is a chance that it might repeat again.
100% technical trade with a 2:1 risk/reward ratio.
Trade closed: target reached
Target has been reached and exceeded slightly. Position closed for a 17% return.
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