- The stock has had a heavy sell off after losing the 20 day moving average which it was holding onto since the 24th of May
- It will be a bit risky to chase the downside momentum here (unless you keep a tight stop) so I will be looking for any pullbacks to short towards a first target level of R175 . The bear case is in play while price remains under the R242 level (Daily close)
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
- It will be a bit risky to chase the downside momentum here (unless you keep a tight stop) so I will be looking for any pullbacks to short towards a first target level of R175 . The bear case is in play while price remains under the R242 level (Daily close)
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
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