Technical Take:
Sanlam Limited (SLM) has been in the watch list since the acquisition of 30% stake in EasyEquities. The Sanlam share price has been forming an ascending triangle and as soon as the pattern is complete a break out is expected from 7347c. I will be entering the trade at current levels at an entry price of 6952c and anticipating the breakout of the resistance level of 7347c as my first target price level.
Sanlam is also one of those long-term stocks that should be in your long term EasyEquities portfolio as it shows great potential for growth in the future.
Trade Summary Sanlam:
- ENTRY (BUY): 6952c
- STOP: 6581c
- TARGET PRICE 1: 7347c
Afrikaans
Handel Idee:
Ek hou vir Sanlam Limited (SLM) al dop vir n geruime tyd en veral vandat Sanlam 30% aandeel in EasyEquities gekoop het. Daar is ook tans n driehoek vorming wat n goeie geleentheid bied om te koop sodra die weerstand lyn gebreek word by 7347c. Ek gaan koop vanaf die huidige prys 6952c met die afwagting dat die prys hoër gaan beweeg.
Met n langer termyn uitkyk mag Sanlam Limited (SLM) n goeie kopie wees in jou EasyEquites portefeulje teen die huidige prys.
Handel:
- INTREEVLAK (KOOP): 6952
- STOP: 6581c
- TEIKEN PRYS 1: 7347c
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.
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