AAL.L (Anglo American plc) is a precious metals producer with a healthy balance sheet and robust income. Having pulled back from $2,200 to $1,919 in congruence with major stock markets and a current market cap of $24-BLN it makes for yet another appropriate defensive play for the stock market rebound coupled with a probable tendency for precious metals to continue gaining strength.
AAL.L bullish target of $2,100 for a 9.4% difference from the current quote of $1,919. The duration for this trade idea is 1-3 months.
AAL.L bullish target of $2,100 for a 9.4% difference from the current quote of $1,919. The duration for this trade idea is 1-3 months.
Trade closed manually:
Current quote 2,058 from original quote 1,919. As the stock market rebound has performed accordingly, it's time to close and position for a further broad stock market sell-off. 7% profit as it stands, in less than 10 days!
One of the best defensive plays for one that favors stocks even during macro stock market pullbacks, the duration could also be extended prudently 3-24 months with a primary target of 2,150 and secondary target of 2,300.
I realize the $ quote was innacurate, AAL.L is GBP denominated.
One of the best defensive plays for one that favors stocks even during macro stock market pullbacks, the duration could also be extended prudently 3-24 months with a primary target of 2,150 and secondary target of 2,300.
I realize the $ quote was innacurate, AAL.L is GBP denominated.
Comment:
Closed too early, quote 2,179. Target 2,100 was hit well within the 1-3 month time-frame.