We are cancelling yesterdays unfilled bids in PME and WTC and instead looking to “pay up” for Xero in what’s likely to be a strong opening. With an initial target of ~$90 we are keen to get set this morning.
- We believe the risk/reward has swung aggressively in favour of the software stocks after the US peers reversed higher overnight from MM’s target areas.
Trade Idea: Buy Xero Ltd (ASX:XRO) at $76 with stops at $70.40 -7% risk.
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