PPK.ASX trade recommendation up 40% since initial coverage
Tuesday, 20th October 2020
On 21st of August, we alerted members about an opportunity to buy PPK Ltd shares at prices between $3.30 and $3.50. Since then, the stock has risen in price and reached $5.00 yesterday. The chart below shows the initial trade idea, with the stock breaking the 50 day moving average and the RSI turning up.
PPK is currently trading around $5.00 per share. At these prices, this represents an increase of over 40% in just two months and a fantastic result for our clients. Some investors may wish to take a profit at the current price. The technical indicators suggest that the stock has risen too fast. RSI has diverged slightly and the MACD is stretched.