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Double Trade - Aspen & Discovery

Odwa Magwentshu


Trade speacialist Odwa Magwentshu get started with a double trade idea for this Tuesday...


Go Long Aspen


We notice a potential long movement on Aspen, should the share price close above 31490c. the entry level has been tested 5 times since October 2016 and should the share price close above 31490c resistance line, the share price should reach 33890c.

Trade summary:

Target price:                                      33890c

Entry (BUY) :                                     31490c

Stop loss:                                          30170c



Go Short Discovery


There is a head and shoulders pattern forming and nearing completion on the Discovery share price.  A confirmation for the trade would be when the price closes below 14220c with the first target price at 13600c, at the support level, which is at 13600c. should the price break the support level (which was a previous resistance level in March and May this year and a support level towards the end of July), there is further movement lower until 13290c.

Trade summary:

Stop loss:                                         14545c

Entry (SELL):                                   14220c

Target price 1:                                 13600c

Target price 2:                                 13290c

Remember... trade responsibly, your capital is at risk and trading can lead to capital losses.

Until next time, I wish you profitable trading.

 All charts sourced: Bloomberg

Odwa Magwentshu | Trading Specialist at GT247.com

Disclaimer: Any opinions, news, research, analyses, prices, or other information contained within this research is provided as general market commentary, and does not constitute investment advice. GT247.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The content contained within is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.

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