JSE Richemont has been range bound between R88/R89 and R93/94 for the past 6 weeks. To the upside , a beak above the R93/94 resistance could open up to the R100 area; but on its way is has to break the 50dma which is around R95.50.
But a break below R88 could take us further down.
JSE:CFR
Making long sideways base after big drop
Break above 9300/93500 will open 9850 as target maybe even 10000
Ultimate target gap close around 10350
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...
Richemont is one of the world’s leading luxury goods groups. The Group’s luxury goods interests encompass some of the most prestigious names in the industry, including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, and Montblanc.
The history of growth in group sales was driven by a number of factors including geographic spread,...
Will look to allocate off the shaded area, in the coming days
- Some interesting trend-lines in play here
- I find this article curious, which states that JSE:NPN and JSE:CFR have made up large chunks of the gains, in J203 recently.
- Interesting price action in JSE:NPN at the time of the articles publication, 700 could be dragging this with it. I find it...
