Trade idea on Sappi Limited (SAP)
Sappi Limited (SAP) has formed a rounding bottom technical pattern and looks good for a buy at a close above the 8417c level. The stock has been lagging some of the Rand Hedged Stocks and might just push higher if the Rand (ZAR) continues to weaken further.
Educational: TRADING RAND HEDGE STOCKS
Patterns: TRADING PATTERN HACKS
Trade: Sappi Limited (SAP)
- Entry (Buy): 8459c
- Stop loss: 7840c
- Target price 1: 9040c
- Target price 2: 9514c
Source: Bloomberg
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