Would keep a close eye on Richemont over the next few days. We just saw a break below the medium-term recovery trend. Should this turn out not to be a false break, could see the share price test R108 support level soon. A break and close below R108, could see CFR test the July lows around R104.40, with a break and close below this support level, bring back the long-term support level of R97, into play.
As I still believe in CFR’s long-term value proposition, I would not necessarily call it a short at current levels, but would definitely holdoff on buying for now.
The 14-day RSI is not OVERSOLD yet, which could see CFR test R100-R105 levels soon. Will revaluate lower.
As I still believe in CFR’s long-term value proposition, I would not necessarily call it a short at current levels, but would definitely holdoff on buying for now.
The 14-day RSI is not OVERSOLD yet, which could see CFR test R100-R105 levels soon. Will revaluate lower.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.