MM has been looking to buy S32 into weakness ~$2.70 through 2021 but so far we’ve been too pedantic. It’s the prospect of a failed “pop” which has held us back from chasing the diversified miner into strength.
- Firstly MM is bullish S32 initially looking for 10-15% upside from current levels.
- Secondly we still like S32 into a 5-10% pullback but the risk / reward is not compelling close to $3.
MM is bullish S32 medium term
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