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Technical Trade Note Sappi [JSE:SAP]

/
Barry Dumas
sappi-trade-note

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

Screen Shot 2018-05-08 at 13.09.30

Source: Bloomberg

 

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