Buy - DroneShield (DRO)
*** GENERAL AVICE ONLY***
Trade Date: 22/03/2024
Description: DroneShield (DRO) provides Artificial Intelligence based platforms for protection against advanced threats such as drones and autonomous systems. They offer customers bespoke counterdrone & electronic warfare solutions and off-the-shelf products designed to suit a variety of terrestrial, maritime or airborne platforms. Customers include military, intelligence community, Government, law enforcement, critical infrastructure, and airports.
Recommendation
Buy DRO
Entry price: 73c
Target Price: 93c (+27%)
Stop Loss: 58c Use a 20% trailing stop
Rationale:
DRO has had a great run since the start of 2024 rallying from sub 40c to 93c. It reached its peak on the back of coming into profitability but this brought out some sellers. DRO seems to be forming a base around the 70c level and it looks like its about to resume the trend higher. A few other military related names are also moving higher so there is also a sector tailwind in this trade. Keep stops just below the recent lows around the 58c level and trail as DRO moves higher
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.