Great risk/reward ratio pick - TWE
Back in Aug when TWE announced great 3Q result, it went from $11.5> $13.12 in one single day. It was then severely impacted by the gradually intensifying tension between AUS and China, the stock price has then free fall all the way to ~$8 especially after Chinese gov announced applying tariffs on Australian wine exports.
However, it appears that $8 is already the rock bottom by looking at both the price action and the recent news the TWE is actually seeking other markets to expand (themarketherald.com.au/treasury-wine-estates-asxtwe-eyes-other-markets-to-offset-chinese-tariffs-2020-11-30/).
I wouldnt be surprise the stock price could recover back to $10.63 (~20% gain from now) in short term, and towards $13 when the pandemic gradually smoothens across the globe with very limited downsize at $8 as cut loss and solid support.
However, it appears that $8 is already the rock bottom by looking at both the price action and the recent news the TWE is actually seeking other markets to expand (themarketherald.com.au/treasury-wine-estates-asxtwe-eyes-other-markets-to-offset-chinese-tariffs-2020-11-30/).
I wouldnt be surprise the stock price could recover back to $10.63 (~20% gain from now) in short term, and towards $13 when the pandemic gradually smoothens across the globe with very limited downsize at $8 as cut loss and solid support.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.