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I think I spotted a great investment opportunity in Russian mining&steel sector. Mechel is terribly undervalued according to Simplywall.st while the stock traced a very clear 1-2 waves and is about to take off in 3rd wave.
Mechel possible longterm uptrend till 219 as previous support zone achieved.
Is it a 2nd wave in a long 3rd one?
Mechel is getting closer to the bottom. Quotes have already fallen to the level of 2016.
keep it smooth and easy :)
Allocating some RUB funds to Mechel. Mechel exports 78% of its steel for hard currency, hence the idea. No prospect of geopolitical situation improvement just yet.
MTLR LONG H&S
"Mechel" - Russian mining and metals companies. "Mechel" unites producers of coal, iron ore, steel and rolled products. The products are sold in domestic and foreign markets.
MTLR = 3of3 is in wokr