Mineral Resources looks great at the moment, targeting the $70 area, or ~10% above Fridays close. With this mornings potentially soft open we see an opportunity to “buy the dip” but with two long positions already in play we are placing our bid ~1.5% below Fridays close, remembering this can be a volatile stock.
- We believe the risk/reward towards MIN is attractive if it dips this morning.
Trade Idea: Buy Mineral Resources Ltd (MIN) using a limit of $62.65 with stops at $59 – 6% risk.
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