Tuesday saw a massive rally in SHP - 9%, it's biggest rally in 22 years.
The cause: A warning that profits would fall by up to 20%, but on flip side, a strong increase in sales in the South African market.
By Friday morning however, the buyers had given back a lot of their hard fought gains.
Switching to a weekly chart (an early call yes, the week isn't over) we can see just how far off the highs price has come.
I don't think the current down trend is over and still favour the short side down to 13800 and possibly to 12600
The cause: A warning that profits would fall by up to 20%, but on flip side, a strong increase in sales in the South African market.
By Friday morning however, the buyers had given back a lot of their hard fought gains.
Switching to a weekly chart (an early call yes, the week isn't over) we can see just how far off the highs price has come.
I don't think the current down trend is over and still favour the short side down to 13800 and possibly to 12600
Dagangan ditutup: sasaran tercapai
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.
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.