Long
Mediclinic setting up a bounce
MEI has found a trading range which I think will should stay in place until their earnings. At these very oversold levels, the stock is getting some support near and around the R70.00 mark. I have bought the stock at R70.00 for a test of the top of the trading range just above R77.00. I'm looking to capture the 10% move. Only risking 2% of my portfolio on this trade, I have placed my stop loss at R66.40 which would signal that the trading range has been broken.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.