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FXL still in a down trend and lots of selling in the background....

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Beany72

3,285 Posts.

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29/06/17

09:59

Post #: 25556421
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Originally posted by Eklavya ↑

I am wondering if anyone has any view on FXL here. I understand SP has recently being hammered to as low as about 1.6, which I understand could possibly be related to some investment house downgrading its target price from 2.30 to 1.80. Having gone through the financials I came up with a fair value of about 2.4 and hence believe it is safe bet here especially given that the trend seems to be reversing (?). Any thought would be highly appreciated.

PS, I mentioned CZZ few weeks back and now it seems to be doing well though I couldn't pull the trigger on time and thought it was a bit risky at 14 and was waiting at around 13 - anyway cant catch them all. Also I have now offloaded my position on FLT (was planning to hold longer but it reached my initial target so decided to play safe).

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FXL still in a down trend and lots of selling in the background. If it comes back on light volume to $1.74 might be an entry point but I'd be sticking a really tight stop.... probably as close as $1.68.

XMD Value at posting: 6,322.6
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