AsimMirzaTrader

DRR - Could be backtesting to go up.

Long
ASX:DRR   DETERRA ROYALTIES LIMITED
DRR has broken out of its downtrend and the recent pullback lower could be a backtest of its downtrendline. It has been consolidating and holding well at the current zone of $4.15 - $4.30, and I expect that it should continue higher from the current levels. We could see a bit more consolidation before it heads higher. MACD histogram shows that Bearish momentum may have slowed. I will be a buyer once it shows strong bullish price action. My trade plan will be as follows:

TP1 - $4.77 (potential 12%)
TP2 - $5.03 (potential 18%)
Stoploss will be below the consolidation zone

Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.


Haftungsausschluss

Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.