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...
Source - Bloomberg
Read Afrikaans version HERE
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.
ALSO SEE: /merafe-fundamentals-m-ingham-16-august-2017