- The stock has had a heavy sell off after losing the 20 day moving average which it was holding onto since the 24th of May
- It will be a bit risky to chase the downside momentum here (unless you keep a tight stop) so I will be looking for any pullbacks to short towards a first target level of R175 . The bear case is in play while price remains under the R242 level (Daily close)
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
- It will be a bit risky to chase the downside momentum here (unless you keep a tight stop) so I will be looking for any pullbacks to short towards a first target level of R175 . The bear case is in play while price remains under the R242 level (Daily close)
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.