CMC Markets found substantial support at 100GBX

CMC markets hit a 3-year low of 100GBX after news of lower revenue expectations but found huge support at the level with an immediate jump of 16% in 2 trading days. Fundamentally, CMC is trading at around 1X revenue. Given that CMC is a global, established, and profitable company, with consistent growth in its customer base. I think that the 100 GBX price was a bottom where reversal is taking place. I expect the price to reach 220-270 GBX at around the next dividend payment at the end of November-beginning of December.

Not financial advice. Do your own research.

Trade ist aktiv:

CMC's price confirmed the 100 GBX support again two days in a row.

Kommentar:

The trade hit my Take profit today. I netted 160% and the trade took 9 months. I also received a dividened which i didn't include in my net profit.