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Peet_Serfontein
Aug 30, 2023 8:03 AM

NPK: correction unfolding? Short

NAMPAK LTDJSE

Description

A price action below 27700 supports a bearish trend direction.
Increase short exposure for a break below 27200.
The target price is set at 24200 (38.2% Fibonacci retracement level).
The stop-loss price is set at 31000.
Corrected from overbought territory.
Remains a risky trade.
Comments
AlloysK
Closing the order. Enough profit. I am now buying. What's your take on Nampak?
AlloysK
@AlloysK Bad decision 🤣
AlloysK
Still selling?
AlloysK
So far, so good.
AlloysK
I have just sold at 30900... I think its time for the bear
Mihai_Iacob
The analysis is well-made, thanks for sharing.
AlloysK
I agree 100%. Thanks for sharing
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