CFR has formed a head and shoulders pattern which could mean a downward move if it breaks through the neckline. As always, wait for confirmation.
There appears to be no end in sight for the protests in Hong Kong, a major market for luxury goods, specifically timepieces. In addition Macau gaming revenue is down by 8.6% for August which means that gamers are taking less risk. This, combined with a strengthening Rand, has seen Richemont give up some of it's recent gains. Today's the price is breaking down from...
There appears to be no end in sight for the protests in Hong Kong, a major market for luxury goods, specifically timepieces. In addition Macau gaming revenue is down by 8.6% for August which means that gamers are taking less risk. This, combined with a strengthening Rand, has seen Richemont give up some of it's recent gains. Today's the price is breaking down from...
CRF looking good to move higher. A breakup above R121,00 could see a back to test R132-R136 resistence zone. RR 2:1 with stoploss below R115.
We may derive the following from the Weekly CFR chart: 1. Price has respected our initial structure (See linked idea). 2. Currently short from the backtest and anticipating a move down to the corrective trend line. 3. Do take note of the demand zone around 110 (purple box). 4. Monitor price action and watch for further shorting potential. 5. As always -...
This could be either a flag break retest or a fake break. If the retest holds, targets could be 12450, 12900. If it break back into flag, consolidation could continue and the long trade id off the table.
Although Compagnie Financiere Richemont SA (CFR) has found its share price in a recovery phase since November 2018, the 200-day Moving Average is still very much pointing downwards, which serves as indication that the trend isn’t all that healthy yet. Price movement since March 2019 created a Descending Triangle that could be very positive for CFR, should we see a...
Marked out some targets based on my Pivot Extensions Long this as it looks good for a move up
Looking at the Richemont, we may derive the following from the weekly chart: 1. CFR is at a notable resistance level where price has slowly started to reject the previous trend line. (The backtest) 2. We are seeing a correction pattern in play. 3. I am favouring a move to downside in the near future. 4. If the backtest holds, bears will bring the price...
The exponential moving averages have crossed upwards, the stochastic has made an upward turn and MACD is also on the up. These are all signs to go long as the momentum is moving upwards.
JSE:CFR is bouncing off resistance and has formed a bearish harami which is a top reversal signal. We can expect a downward move.
$JSECFR Daily close above R110 confirms H&S
With the Rand blow out today, we may see CFR test the upper resistance band today. Should it get that close, I will be looking to short (above R110.00). The stock was trading below R100.00 just 10 days ago and has become quite over-bought as it trades just above the 200 day moving average. The trade rules for this one are pretty simple. A break above that...
JSE:CFR Making flat top triangle. Area around 11200 will act as resistance. If it breaks above more upside.