Well, there's a bit more than just 5 stocks. I've got a watch-list of names that I picked up both manually and via my scanners, both local and offshore that are potential plays, depending on the price action (as always).
For now let's look at Richemont, which turned out to be a very solid trade idea as I managed to publish/alert on the 2nd highest trading day of all-time (27 July) at around R187, from which we have seen a move to 158.61 on Friday.
An extract from tomorrow's note: "The share continues to trade lower, having exceeded our short target in place from 27 July. The price is below the declining 50-day EMA while the MACD and Signal is firmly below the centre line. The downside gap at 14765c may act as a target. Note, the 200-day simple moving average may, amidst the bearish structure, act as a short term line of defense (consider a possible overshoot here to close the gap)."
5 Stocks To Watch This Week:
If you are individual/retail trader or an industry professional, and would like regular access to my technical perspectives and ideas, get in touch today.
For now let's look at Richemont, which turned out to be a very solid trade idea as I managed to publish/alert on the 2nd highest trading day of all-time (27 July) at around R187, from which we have seen a move to 158.61 on Friday.
An extract from tomorrow's note: "The share continues to trade lower, having exceeded our short target in place from 27 July. The price is below the declining 50-day EMA while the MACD and Signal is firmly below the centre line. The downside gap at 14765c may act as a target. Note, the 200-day simple moving average may, amidst the bearish structure, act as a short term line of defense (consider a possible overshoot here to close the gap)."
5 Stocks To Watch This Week:
If you are individual/retail trader or an industry professional, and would like regular access to my technical perspectives and ideas, get in touch today.
