CFR Head & ShouldersCFR has formed a head and shoulders pattern which could mean a downward move if it breaks through the neckline. As always, wait for confirmation.Shortby RossLarter7
Trade Idea: Risky Richemont 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 it's incline support while trading below it's declining near term moving averages. Based on these factors, I would look to sell the next rebound. Trading Plan: Short/Sell CFR on a rebound back above R117.20 To protect capital, use a stop-loss of R121.50 Take profit at or close to R111.70Shortby LD_Perspectives7
Risky RichemontThere 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 it's incline support while trading below it's declining near term moving averages. Based on these factors, I would look to sell the next rebound. Trading Plan: Short/Sell CFR on a rebound back above R117.20 To protect capital, use a stop-loss of R121.50 Take profit at or close to R111.70Shortby LD_Perspectives5
CFR Bull flag About to breakup.?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.Longby T2TWELL3
CFR - Finally MovingWe 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 - maintain your risk. Note: The views provided herein do not constitute financial advice. Update idea Shortby zeerotrader2
$JSECFR Richemont. Fake break or retest ? 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. by KoosKanmarUpdated 6
Richemont - Is Bling still the Thing?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 break and close above the resistance line R106, which could see us test the March 2019 levels of R110 again. As mentioned however, the trend is still pointing downwards, indicating that a possible test of support line at R97.60 could likely be in play. Should we see a break through this support level, our longer-term support trendline at R91.30 could be tested. Technically, we would recommend holding back on buying until confirmation of an upward break can be seen. We also wrote a full summary on the results and fundamental report on the company - Read it Here oldoak.co.zaby SchalkLouwUpdated 3
CFR Consolidating just below ResistanceMarked out some targets based on my Pivot Extensions Long this as it looks good for a move upLongby Zabbs2
CFR - Backtest of doom?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 down. 5. As always - maintain your risk management. Let's see what happens. Note: The views provided herein do not constitute financial advice.Shortby zeerotrader5
Upward Momentum on CFRThe 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. Longby RossLarterUpdated 2
CFR Short off ResistanceJSE:CFR is bouncing off resistance and has formed a bearish harami which is a top reversal signal. We can expect a downward move.Shortby RossLarter3
Shorting Richemont -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 overhead resistance will be the signal to bail out , but I am happy to place a stop loss just above 116.00. ( volatility is a factor). My target; R98.00 (but I'll probably take it early)Shortby RobbyP4
$JSE-CFRJSE:CFR Making flat top triangle. Area around 11200 will act as resistance. If it breaks above more upside. by ALSITRADER5
At an inflection point - waiting for direction At an inflection point - waiting for direction by gillyblore4
$JSE-CFRJSE:CFR Looks as good buy above 10600 with stop loss at 10400 and target gap close around 11000.by ALSITRADER6
$JSE-CFRJSE:CFR Made falling wedge during the last pull back. If it breaks higher target should be around 111.00by ALSITRADERUpdated 8
$JSE-CFRJSE:CFR Testing support and making head and shoulders in the process. Break bellow will be bearish. by ALSITRADER8