Update on A50 trade ideas

I suggested looking at long A50 cash trades on 17 April on pullbacks to 13,500.

Source: Bloomberg

After a strong move lower on Friday, on increased regulation, the index has bounced back.

At current levels the trade is 390 points or 2.9% in the money. The uptrend I focused on is still very much in play, although trend support is now seen at 13,355. I am keen to hold a long bias as long as the index can maintain the trend. I am watching for a break of the 14,000 level in the short-term and on this potential development I would look at raising stops closer to the market.

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