The crude oil price has started to advance in the face of some significant headwinds, a positive sign that the market is looking for, or has found, a low. WDS has endured a tough few years, and with FOMO looming as the market edges towards fresh highs, it’s a logical place for underweight investors to consider parking some cash.
- I believe the risk/reward towards WDS is compelling with a breakout by crude oil in the offing.
Trade Idea: Buy Woodside Energy (WDS) at $23.10 with stops at $22.50 – under 3% risk.
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