I have no idea where the price will be in 2 weeks... but in executing this sort of trade there is a key question to ask: What is the risk/reward?
Well, you've identified a possible downside in the price to $3 - so that's ~$1.30 from the price you posted at. But what's the upside to the price? That's the hard part.
Without wishing to be unkind, I wouldn't be having a very comfortable Easter weekend if I were in your shoes. We could find ourselves in a trading halt on Tuesday, either because some new drilling results are about to be published or because EXT has received a formal approach.
I most certainly am not saying either of these events are likely to happen but you need to consider the consequences before entering a trade.
This does not look a very attractive trade to me from the risk/reward POV. I hope you have a guaranteed stop-loss.
A lot of investing & trading is all about managing risk - which is why I've been steadily taking profits as the price has risen, even though I may miss some of the gains on part of my holding. I need to keep the size of my investments comfortable relative to my overall portfolio.
Regards,
Mark
EXT Price at posting:
$3.92 Sentiment: Hold Disclosure: Held
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