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Technical trade note African Rainbow Mineral Limited [ARI] - 01 June 2018

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Barry Dumas
African-Rainbow-Minerals-1

Trade idea on African Rainbow Mineral Limited (ARI)

African Rainbow Mineral Limited (ARI) have been testing the 11419c per share level on a number of occasions. If we see a daily close above this level it looks good for a buy with a first target price of 12289c per share. Looking at the weekly time frame we can see some positive long-term movement on the stock as well.

Trade: African Rainbow Mineral Limited (ARI)

  • Entry (Buy): 11536c
  • Stop loss: 10279c
  • Target price 1: 12289c
  • Target price 2: 13230c

Screen Shot 2018-06-01 at 10.33.50

Source: Bloomberg

 


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