ICT TO EXPAND IN IRAQ

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ICT will spend 100 Million USD

ICT just inked a deal worth 100 Million US Dollars to expand the Basra Gateway Terminal (BGT) in Iraq. This will help spur economic development in Iraq and it will be done in 18 months. This in inline with ICT’s strategy to be positioned well in emerging economies. The company is currently operating in 19 countries with 31 terminals.

Will this be the needed boost of the company to bring its earnings higher? For those new into stock trading, ICT’s earnings dropped in 2015 and its 2016 earnings remains flat when put side by side to the growth that it had from 2012 – 2014.

This post aims to show you buying reference points using technical analysis and to see how much this news item has actually shifted the trend of the stock.

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For quick traders, the stock is generally sideways, flat and headed nowhere as of this point in time. For people with relatively shorter durations, the stock is a buy should it bounce from 101.6 and you can peg the target price at 108.5. This represents a 7% gain should you buy at the bounce at 101.6.

For traders and investors who can wait it out longer, the buying opportunity with a higher gain can be found should the stock retrace lower to 96.4. A bounce from 96.4 is a buy and your target price will also be at 108.5. This represents a 12.7% trading gain should you buy from the bounce of 96.4

Should the stock breakout from 108.5, the next target price will be 113.6.

Please use this news item and analysis as a reference point in your trades. I love creating posts like this but I do hope that you create your own judgement and analysis using both technicals and fundamentals. That greatest way to make money in the market is when you have your own conviction based on your own strategy. I hope this helps you in your trades!

ICT TO EXPAND IN IRAQ

 

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