Swing Trade: $BASF

I was reviewing whats been going on across the market and stumbled across BASF, a German chemical company that has a huge global footprint. Right now this is what I’m interested in, it’s at a 5 year low (excluding the Covid shock), but can survive the turbulence of war due to how global the company is.

When investigating $BASF, I also noticed that it pays out a dividend of 6.22% which is quite high, so if any dividends are paid out over the period of holding it, then this will be a bonus.

The next big thing I liked about $BASF is that when I’m looking into news related to the company, there is rarely anything bad. I have checked Yahoo finance and Google news, and I would normally check FinViz, but since it’s a European company it isn’t included.

The company also looks to have a steady profit margin, feels like it’s growing into the renewable arena and has a good amount of assets to cover any debt with ease. Overall the company looks very safe.

So why the decline and possible 5y lows? I think this comes from the overall feel of the global stock market. A lot of stocks have taken a tumble since the start of the ukraine/russia war and prior to that the market was also in a less than favourable position from what I could see.

With this in mind, I have jumped in and purchased shares in BASF. I did this at the start of March as the RSI dipped below the 30 line, and I apologise for the late post, however since it stands at about 5% below what I paid for it, and the 12/26 MACD are about to swap over, it maybe that I was a bit eager and should have purchased now rather than earlier.

Total Shares Purchased: 6
Share Price Paid: 57.00
Date of Purchase: 28th February 2022
Target Gain: 10% + gain
Target Stock Price: 62.00 +
Target Date Range: 2-3 months
Ticker: #BASF

Note: Please keep in mind I have no financial training and I really dont have a clue as to what I’m doing. Everything here is just me gambling, if you wish to copy then it is of your own choice and free will. I will not accept responsibility for your actions. Above is simply my personal opinion, your decision to agree or disagree is “your opinion”.

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