BradtNom

Steinhoff looks set to clear consolidation

Long
JSE:SNH   STEINHOFF INT HLDGS N.V
Battered Steinhoff looks like it is breaking out of consolidation. Near-term could see breaks above R4, R6 , and then finally R9. Past R9 possibly to major resistance until R23-24. Keen to know what others think. Please leave a comment or link to your own ideas!
Comment: This is a long-term play, as the suggested blue trendline attempts to show. Unless there are news regarding Steinhoff's settlements etc., the price will not again breakout soon. Expect high intraday volatility, as it is now virtually a penny stock.