Technical Take:
TWEET THIS TRADE
Currently Compagnie Financiere Richemont SA (CFR) is looking great for a buy at current levels for the more adventures trader but a close above the resistance level of 12200c will give a better indication as an entry to place a long trade.
Compagnie Financiere Richemont SA (CFR) has been running in a channel over the last 12 months on a daily and weekly time frame and is currently testing resistance at the 12200c line. a Possible break through 12200c is looking positive and a move higher to the topside of the channel is possible.
Trade Summary:
- Entry: Long (buy) 12260c
- Stop: 11792c
- Target price 1: 12859c
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.
All charts sourced from Bloomberg
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.
Want to trade CFD Equities, Forex, Indices & Commodities on the most affordable online South African trading platform?
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
