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[JSE:MRF] Trade Idea - Merafe Resources Limited - English

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MRF CHART ENG AND AFR.png

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
 

Disclaimer: Any opinions, news, research, analyses, prices, or other information contained within this research is provided as general market commentary, and does not constitute investment advice. GT247.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The content contained within is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.


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