XRO has been by far the most actively traded stock in our trading ideas section, with four attempts yielding a net small profit – not too bad with the stock having fallen 67% in the last 12-months. However, ideally we like to buy stocks/markets in an uptrend that are correcting but XRO has tempted us on occasion, looking for a sharp bounce. Again, we’re targeting a bounce, in line with earlier discussions towards the software stocks outperforming the AI Trade in the coming weeks.
- We are bullish towards XRO targeting a retest of $90, or 25-30% higher.
Trade Idea: Buy Xero (XRO) at $72 with stops at $66, around 8% risk
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