Monday Morning Technicals 10 July 2017

"Woolies & Mondi" Technical Takes

Woolworths:

Has broken down below 2 key support levels since May and closed below another support level on Friday. If it does not bounce from this level then we can expect more significant downside. Short sell from current price level if it does not bounce, first target is at R57.50.

Mondi Ltd:

Closed within triangle on Friday signalling a failure of upside momentum after the breakouts that we saw on Wednesday & Thursday. It’s mostly a currency play therefore if Rand strengthens relative to major currency pairs then you might be looking to short it.

MND LTD.png

Wishing you a profitable day of trading.

Musa Makoni | Trading Specialist at GT247.com

Follow @Makoni_Henry

Wishing you a profitable day of trading.

GT247.com: +27 87 940 6101

IT support & help desk: +27 87 940 6107

Client relations (new accounts): +27 87 940 6106

Sales: +27 87 940 6108

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.

Resources