JSE:CFR is bouncing off resistance and has formed a bearish harami which is a top reversal signal. We can expect a downward move.
$JSECFR Daily close above R110 confirms H&S
With the Rand blow out today, we may see CFR test the upper resistance band today. Should it get that close, I will be looking to short (above R110.00). The stock was trading below R100.00 just 10 days ago and has become quite over-bought as it trades just above the 200 day moving average. The trade rules for this one are pretty simple. A break above that...
JSE:CFR Making flat top triangle. Area around 11200 will act as resistance. If it breaks above more upside.
At an inflection point - waiting for direction
JSE:CFR Looks as good buy above 10600 with stop loss at 10400 and target gap close around 11000.
JSE:CFR Made falling wedge during the last pull back. If it breaks higher target should be around 111.00
JSE:CFR Testing support and making head and shoulders in the process. Break bellow will be bearish.
Richemont closed above the 200-day MA this week. Support can be found at the 38.2% fib level R106.31. Horizontal resistance around R113.50.
Bull flag targets 200day SMA at R108
I've always viewed Richemont as a bull market stock. What do I mean? Well, when the ultra-wealthy look at their portfolio and see green, what better way is there to spend those after-tax gains on a fancy piece of jewelry? Similarly, red on their screen could see them refrain from stepping out and making a luxury purchase. This is where luxury stocks fit in. Over...
Another small bull flag with, if it breaks a 9900 target price
JSE:CFR Had nice really last few weeks but currently making rising wedge. This morning trading just above bottom of it. Be careful if you are long. If you are bearish wait for beak to take position.
Hourly close above R96 targets R100.40
Bull flag break on Richemont this morning. Target gap close
Broke out of a sideways channel, just to break back into the channel again. Trade idea could be dead if current support levels fail.
After last Friday's (11 Jan) release of a trading update by Richemont (CFR), we saw price temporarily breaking the R94/R95 resistance to hit a high of R96.28; but only to close at R94.68, with an 'indecision' Doji candlestick forming for the day. Yesterday's (14 Jan) price action saw us closing below the critical R94/R95 area (at R93.90). The R94/95 resistance...
Richemont has been consolidated over the past few months around the R 90.00/ R 95.00 levels..and has recently broken above a key resistance at R 95.00.. This following this mornings results coming inline with consensus. The stock is a good proxy for any good news coming from the US/ China trade talks and may possibly re-rate upwards. I'm of the view the stock...