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Mr Price - First target reached (UPDATE)

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Barry Dumas
MR PRICE IN THE MONEY

In the Money and Update on MR Price Limited (MRP)

My MR Price Limited trade has finally reached my first target price of 27522c as seen in the chart above and we are off to a good start in the local equity market. In this update I will show where I will be moving my stop loss to. 

Update on MR Price Limited (MRP)

I will be moving my stop loss into profit to the 26619c level.  In an effort to manage my trades better and letting my winners run I do not have a set second target price and instead will only move my stop upwards as the price moves higher.

mr price move stop loss.png

Source Bloomberg


 

 

INITIAL TECHNICAL NOTE:

Trade note on Mr Price Group Limited (MRP)

An opportunity has presented itself on one of my favourite shares and I am taking the trade on Mr Price Group Limited (MRP).

The price action was trying to break through the 25041c resistance level on a few occasions and has finally broken through this level yesterday.

There was also a favourable SENS announcement that came out yesterday after the market close that might support the move higher.

SENS link: https://senspdf.jse.co.za/documents/SENS_20180117_S394397.pdf

Trade: Mr Price Group Limited (MRP)

  • Entry (Buy): at market or 25617c
  • Stop loss: 24106c
  • Target price: 27522c

Mr Price.png

 

 

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