S32 has enjoyed a strong few years and the diversified miner does appear to have more in the tank but volatility is increasing which is a typical characteristic of a market whose trend is maturing fast, we believe the stocks set to consolidate the last 2-years gains between $4.50 and $5.50 suggesting the risk/reward doesn’t favour the buyers at this stage of the cycle.
MM is targeting a test of $5.50 by S32 in the short-term
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