Royal Bafokeng Platinum is oversold on weekly and daily stochastics. Price nearing long term upward trend and 200 day moving average. Although instrument is moving sideways in an upward trend i feel that the demand for platinum will continue and that the rand will weaken. Will be using a fairly small stop on this trade.
And now the platinum price jumps above $1000 - maybe there is hope. I am 10% down on RBP before the div.
AWPEARCE1
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@RolandBotes, I Am down to, I hope you right, but i think it will in time .Down 4%.
RolandBotes
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@AWPEARCE1, so far so good. the drop was not as sever as I expected. I hope it holds up at 6 - 7% down which means I break even at a prive of R88.84. I will probably double up my R30k exposure to R60k if it moves downwards. I think I can make a decent return in two months if I am patient.
RolandBotes
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Your stop may be triggered on Wednesday when they go ex-div?
AWPEARCE1
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@RolandBotes, You were right about that drop. Doubling up is balsy. Fortune favours the brave.