Peet_Serfontein

KIO: further downside potential?

Short
JSE:KIO   KUMBA IRON ORE LTD
A bearish trend is applicable below 53700. Crossing above this level will negate the negative stance.
The level 51300 acts as further bearish trend support.
Consolidation around 48900 to 52100. Crossing below 48900 will target 45700.
A break above 52100 will be the first sign of strength in the share.
Remains a risky trade.

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.