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.
Barry Dumas | Trading Specialist at GT247.com
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