One of the cheapest metal co's..one which could soon see a trend reversal.
The stock has taken resistance many times at the AVWAP of this entire downmove (marked with the red arrows)
If the price can cross above that it could quickly go to 112. So long above 103.50 with SL below 100. This would initially be more a short term trade for me coz i believe it might do a restest of the AVWAP before really making a good move (But that good move would have to coincide with an increase in demand ideally)
The stock has taken resistance many times at the AVWAP of this entire downmove (marked with the red arrows)
If the price can cross above that it could quickly go to 112. So long above 103.50 with SL below 100. This would initially be more a short term trade for me coz i believe it might do a restest of the AVWAP before really making a good move (But that good move would have to coincide with an increase in demand ideally)