After creating a high of R414.90,
KIO
turned bearish between January and April of last year reaching a low of R259.21. From there the stock has been trading flat, sticking predominantly to a range with a top at R325 and bottom at R260.
KIO
recently looked to break below support but it turned out to be a false break and price quickly re-entered the range.
With the stock currently trading at the lower end of the channel, I will definitely be going long with the aim to exit the trade when it nears the top.
Action: Place a Limit order to BUY at R273.00 with a Stop Loss set at R253.00. I will aim to take profit at R295.00 and R325.00 respectively.
Margin: 20%
Gearing: 5.00x
Gain: +95.24%
Risk: -36.63%
KIO
turned bearish between January and April of last year reaching a low of R259.21. From there the stock has been trading flat, sticking predominantly to a range with a top at R325 and bottom at R260.
KIO
recently looked to break below support but it turned out to be a false break and price quickly re-entered the range. With the stock currently trading at the lower end of the channel, I will definitely be going long with the aim to exit the trade when it nears the top.
Action: Place a Limit order to BUY at R273.00 with a Stop Loss set at R253.00. I will aim to take profit at R295.00 and R325.00 respectively.
Margin: 20%
Gearing: 5.00x
Gain: +95.24%
Risk: -36.63%
Trade closed: target reached:
KIO has reached its target of R325.00