Not my fav set up here but looks a fairly high probabilty trade.
Technicals - Ascending triangle formation, entry on triangle break with bullish candle confirmation.
Fundamentals - materials sector is expected to get plenty of activity from various government stimuli, plus, low interest rates environment is beneficial. Additionally, the market expected a much weaker outcome as a result of the coronavirus pandemic, and as a result a further bounce in share price is a decent probabilty.