RobbyP

Shorting Richemont -

Short
JSE:CFR   COMPAGNIE FINANCIERE RICHEMONT SA
With the Rand blow out today, we may see CFR test the upper resistance band today. Should it get that close, I will be looking to short (above R110.00). The stock was trading below R100.00 just 10 days ago and has become quite over-bought as it trades just above the 200 day moving average. The trade rules for this one are pretty simple. A break above that overhead resistance will be the signal to bail out , but I am happy to place a stop loss just above 116.00. ( volatility is a factor). My target; R98.00 (but I'll probably take it early)
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