Buy - Judo Capital (JDO)
*** GENERAL AVICE ONLY***
*** Trade Update***
Description: Judo Capital Holdings Limited (JDO) is an Australian bank with a focus on lending to small and medium enterprises (SMEs). Judo’s product offering provides SME Customers with tailored lending solutions for their SME business needs. The bank has 3,758 SME Lending customers and 35,050 Term Deposit customers.
Trade Date: 8/3/2024
Entry Price: $1.19
Exit Price: $1.34
Profit Target: +12.6%
Rationale: JDO has reached it’s technical level on the upside, there is still reason to remain in the trade due to been a potential takeover target. So we are taking off half our position.
Trade Date: 26/2/2024
Recommendation
Buy JDO
Entry price: $1.19
Target Price: $1.50 (+26%)
Stop Loss: $1.05 (-12%) Use a 15% trailing stop
Rationale:
JDO has been an MPC Markets favourite recently, as it has been part of our Balanced Portfolio and Alpha recommendations. There has been press released on a possible take over of JDO by BEN. With JDO managing to hold around the $1.20 area during its recent earnings release and these takeover rumours, we have the opportunity to buy JDO where the downside is limited and a possible uplift if the take over does materialise. Buy JDO around open this morning, use a wide stop and size accordingly
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.