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Potential Orica trade

Orica could be worth a potential aggressive short if we see a slight move higher today.

All trading involves risk. Losses can exceed deposits.
ASX 200

Yesterday the price closed above its upper Bollinger Band, with both the RSI and stochastic at overbought levels. Traders could potentially look at placing a stop above the downtrend at $23.50, looking for a move back to the 20-day at $20.72. Its going against a strong uptrend, hence I would be keen to act fairly nimbly.

The idea behind this simple strategy is that we see mean reversion.

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