With the selloff we saw in the Retail sector last week, wiping out Billions of Rands we might see some opportunities come through soon, for now I am on the side-lines. The World economic Forum will be closely watched this week to see if the South African delegates can secure more foreign investment.
Today we look at Tiger Brands and Mondi technical charts and the trade opportunities they possibly present...
Tiger Brands limited (TBS)
Tiger Brands limited (TBS) is a manufacturer and marketer of fast-moving consumer goods which came under pressure in 2018 after a food contamination scandal. The listeria outbreak did serious damage to the company losing over R365 million from the outbreak.
The stock seems to be on the rebound and has moved higher over the last month or so. We might even see a short-term pullback before the price gains momentum, trade with caution. Possible entry might be R290.70 per share with a first target point around R322.07 per share.
Source – Bloomberg
Mondi Limited (MND)
This packaging and paper company has been gaining momentum over the last month and trading above the 50-day Simple Moving Average (SMA). Take not that a pull back is expected as the price action is trading in an ascending channel. A possible entry after the pullback might be at the R332.73 per share with target point around R356.05 per share.
Source – Bloomberg
Mining: South32 Limited (S32): Trade has not triggered
Financial: Sanlam Limited (SLM):Trade has Triggered
Retail: Compagnie Financiere Richemont SA (CFR):Trade has not Triggered
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