RobbyP

VERY BEARISH IMPERIAL

Short
JSE:IPL   IMPERIAL LOGISTICS LTD
Pretty self explanatory but here goes...
Neckline of a massive head and shoulders pattern has been broken. A re-test of the neckline (187.00-190.00) will be the place to enter a short for a very large move down. I repeat...very large...
Target1: R150.00 (conservative)
Target2: R140.00 (aggressive)
Target3: R100.00 (Ultra-aggressive)
Comment: Eventhough IPL is ex dividend today, this Head and Shoulders is still playing out nicely...I'll be looking to take profit near 160.00. (we entered the trade at R188.00)