Clicks is expected to release their results by the 23 April and I'm almost certain that their forward guidance is going to look a lot less chipper than what their trading update suggested.
Looking at the chart, I have highlight a resistance zone a lot of "long tails" where highs are getting rejected. This suggests that the top for CLS is firmly in place. I can't see any upside surprises coming out of Clicks this week So we have entered the short at R267.00. My stop loss is just above those failed highs at R276.00. We're targeting a sharp move lower to around R240.00. (But I will probably take it off sooner)
Looking at the chart, I have highlight a resistance zone a lot of "long tails" where highs are getting rejected. This suggests that the top for CLS is firmly in place. I can't see any upside surprises coming out of Clicks this week So we have entered the short at R267.00. My stop loss is just above those failed highs at R276.00. We're targeting a sharp move lower to around R240.00. (But I will probably take it off sooner)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.