Partner with US
Open Free Account


Richemont [JSE:CFR] pressure from strong rand

Dean Bakos
riche short (003).jpg

Richemont the ultimate rand hedge has developed a head and shoulders in recent times. If you’re bullish on the rand after the news that Ramaphosa is the new head of the ANC then this is the trade for you. The share has broken the neckline and come back to retest. The share has also broken 11500, a critical support level. All that is left is for you to ride it down to the take profit.

  • Entry- current levels 11426.
  • Stop- 12000
  • Take Profit- 11000


All the best for the new year and I wish you all a Merry Christmas. 

Be Blessed 


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. 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.