BID has been stuck in a range bound rectangle between R280 and R288. However, R276 has been a level it hasn't been able to break. A close below R276 triggers a short idea with R264 target. Should it trigger a stop loss would be a close above R280
Comment:
Stock is still stuck gong sideways.
Trade closed: stop reached:
Horrible action on BID with the short trade been triggered on the 4th of August only for it to stop us out on Friday the 7th. The weak ZAR has pushed this rand hedge stock above once again. The range remains intact.