Timonrosso

Kumba Iron Ore new Cup and Handle showing major upside to R686.3

Long
JSE:KIO   KUMBA IRON ORE LTD
Cup and Handle has formed aver the last year.
Price broke above the brim level but then moved sideways. During the time it was making higher lows which is bullish by nature, but we haven't had the push we need.
Hence, the price is retesting the Brim which is forming a conservative entry for breakout traders.
7>21>200 - Bullish
RSI>50 - Bullish
Target R686.33

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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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