RobbyP

Shorting Richemont -

Short
JSE:CFR   COMPAGNIE FINANCIERE RICHEMONT SA
With the Rand blow out today, we may see CFR test the upper resistance band today. Should it get that close, I will be looking to short (above R110.00). The stock was trading below R100.00 just 10 days ago and has become quite over-bought as it trades just above the 200 day moving average. The trade rules for this one are pretty simple. A break above that overhead resistance will be the signal to bail out , but I am happy to place a stop loss just above 116.00. ( volatility is a factor). My target; R98.00 (but I'll probably take it early)
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.