$JSE-CFRJSE:CFR Consolidating in flat bottom triangle after initial big drop. Rand strength works in favor of bears .by ALSITRADER9
CFR - Short Term Trading ViewCFR Richemont | Hourly chart candles are encouraging as consolidation takes place within the luxury goods sector (Kering possibly interested in acquiring Moncler, LVMH buying Tiffany). by LD_Perspectives8
$JSECFR DAILYRichemont DAILY is heading down towards the trend line SUPPORT. The RSI is pointing down but price is around the 200day MA(Blue line) which my provide support.by TraderBrett6
$JSE-CFRJSE:CFR Break up from cup and handle formation. Back test happening right now. Target 11900/12000by ALSITRADER12
CFR: bounce off support with bullish divergenceCFR shows hidden bullish divergence while going up and has bounced off support. Buy at R111, stop below R108 and take profit around R119. Longby UnknownUnicorn34680178
$JSE-CFRJSE:CFR Consolidates in small box after initial drop . Break bellow will first target 10300 area but ultimate target should be around 9800by ALSITRADER6
CFR: temporary correction busy unfolding?Retracted from oversold territory. MACD bullish crossover.Longby Peet_SerfonteinUpdated 228
$JSE-CFRJSE:CFR Inverted head and shoulder with neckline been tested. Watch for break higher by ALSITRADER10
Fib 50.0 and rising flag continuationWe expect this fella to drop even further because of this rising flag!!!Shortby Mars_African_EmpireUpdated 8
Top5 oversold/overbought according to RSI & RichemontThis week, the most noticeable thing to point out is the fact that 4 out of the top 5 most “overbought” companies are all Platinum mines. With the recent pullback in the Platinum price (in USD) and somewhat stronger Rand, I will caution any long positions in all four these mines over the shorter term. Oversold: Prosus 28 Ascendis Health 29 Richemont 30 Rhodes Food 31 Cashbuild 31 Overbought: Northam Platinum 77 Capitec Bank 76 Royal Bafokeng Platinum 76 Impala Platinum 75 Anglo American Platinum 71 This week I want to spend some time on Richemont. First, my disclaimer. I like this company and is personally invested. I bought Richemont just below R100/share in November last year ( oldoak.co.za ) and recently sold half the position just over R120/share as we felt the share price was somewhat “overvalued”. Would I buy it back now? We still believe that Richemont is a quality business, and if you don’t own any, could use these “oversold” levels to buy for example, half of your total portfolio weight. The 50-day moving average is still pointing downward, which indicates that the trend is still very much downward. Should we see further weakness, we could get some support at R97.60, where I would look to buy back the other half of my position. Should we see a breakthrough R97.60 levels, we could see the share price seeking support at R92.50. Short-term traders would most probably use this level as their stop-loss as a break and close below these levels, breaking a 3-year support line. Should we see a recovery in the share price from current levels, could see resistance firstly at the 50-day moving average (R107.52), with, next resistance being the 200-day moving average (R116.64). by SchalkLouw5
$JSECFR DAILYHammer on SUPPORT on the DAILY and price is moving up. OVERSOLD but pointing upwards on the STOCHASTIC. TARGET around R113.00 the next RESISTANCE level and TOP of the SHORT TERM range.Longby TraderBrett6
CFR Head & ShouldersCFR has formed a head and shoulders pattern which could mean a downward move if it breaks through the neckline. As always, wait for confirmation.Shortby RossLarter7
Trade Idea: Risky Richemont There appears to be no end in sight for the protests in Hong Kong, a major market for luxury goods, specifically timepieces. In addition Macau gaming revenue is down by 8.6% for August which means that gamers are taking less risk. This, combined with a strengthening Rand, has seen Richemont give up some of it's recent gains. Today's the price is breaking down from it's incline support while trading below it's declining near term moving averages. Based on these factors, I would look to sell the next rebound. Trading Plan: Short/Sell CFR on a rebound back above R117.20 To protect capital, use a stop-loss of R121.50 Take profit at or close to R111.70Shortby LD_Perspectives7
Risky RichemontThere appears to be no end in sight for the protests in Hong Kong, a major market for luxury goods, specifically timepieces. In addition Macau gaming revenue is down by 8.6% for August which means that gamers are taking less risk. This, combined with a strengthening Rand, has seen Richemont give up some of it's recent gains. Today's the price is breaking down from it's incline support while trading below it's declining near term moving averages. Based on these factors, I would look to sell the next rebound. Trading Plan: Short/Sell CFR on a rebound back above R117.20 To protect capital, use a stop-loss of R121.50 Take profit at or close to R111.70Shortby LD_Perspectives5
CFR Bull flag About to breakup.?CRF looking good to move higher. A breakup above R121,00 could see a back to test R132-R136 resistence zone. RR 2:1 with stoploss below R115.Longby T2TWELL3