Timonrosso

TRADE UPDATE: Pepkor is still short and winning but can move up

Short
JSE:PPH   PEPKOR HOLDINGS LTD
The Pepkor Large Head and shoulders broke below the neckline and showed serious selling.
The trade has been a long hold but definitely worth it.
For 1, the price is moving down constantly - without any worry
2. We are making profits daily because of Short Interest income.
So I'm happy to hold the short to R16.00 or so.

On the SMC side (Smart Money Concepts) It is showing some upside to come.

We have had a BOS (Break Of Structure) to the upside as the previous candle closed above the wick of the previous candle.
This tells us there is a shift in the market where we can get some upside. However, it will be short lived to around R18.30...
Then we can expect the price to turn back down and head to our target.


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