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[JSE:MRF] Merafe hits first target

3 October 2017 / Technical Takes Posted by: Barry Dumas
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Taking profits – Merafe Resources Limited (MRF) – Update

My first target price for Merafe Resources Limited has been reached and I am more than happy to take my profits and move on to the next opportunity. If you decide to keep the trade open I would suggest you either keep your stop at the original level or you can move it up just below the 140c level as the price movement is erratic and might stop you out if you place the stop to close.

For those who bought the equity in their EasyEquities portfolio it will be a clever idea to keep the stock until you reach the second target price of 170c. and beyond.

 

Initial technicla Take 06/09/2017...

MRF CHART ENG AND AFR.png

Source - Bloomberg

Read Afrikaans version HERE

Merafe Resources Limited (MRF)

I saw this triangle formation on Merafe Resources Limited (MRF) and it looks very good to buy (long) if it closes above 142c. The only thing to consider is the liquidity of the stock. But non-the less it has given me a signal to trade and my first target price is 154c.

For the long-term investor Merafe Resources Limited (MRF) can be a great opportunity to buy this stock in your EasyEquities portfolio at current levels. Keep in mind that volumes can be lower as liquidity can be a problem when trying to buy and sell.

TRADE: Merafe Resources Limited (MRF)

  • ENTRY (buy): 144c
  • STOP: 128c
  • TARGET PRICE 1: 154c
  • TARGET PRICE 2: 170c

 

ALSO SEE: /merafe-fundamentals-m-ingham-16-august-2017

Always remember to apply your risk management measures before placing your trades as this will keep you trading in the markets.

Read more notes by Barry HERE.

 
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Barry Dumas | Trading Specialist at GT247.com
 

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