You can never be too careful in this South African market in light of what just happened to Telkom shares. Telkom is starting to turn into another Steinhoff if you know what I mean. The bears in this market can maul your account and you could kiss your retirement portfolio goodbye. If you are buying Telkom, then definitely you are catching a falling knife both literally and figuratively. Back to Anglo Platinum, be careful of those douche bags holding dozens of shares who might just dump their stakes to make their “killing” and leave you capitulated. Also, you might just want to keep tabs on report because from what I read, Telkom’s were a flop and, yes, their failure to acquire Cell C also contributed to the massive sell-off.
Buy: Now!!! Yes, the price has already rejected the inner trendline on the 4-hour chart and formed two candles. A stop-loss is a definite must in these parabolic stock markets, but make sure you give your trade enough room to breathe. I would suggest a stop-loss below the 126572 price level, which is the previous low.
I am personally going to try to enter this trade at market open on Monday. Yeah, after I missed that Capitec rally, trust me I am not going to a good moves like this again.