KUMBA IRON ORE LTD

Short

$JSEKIO Breaking down from the channel

By MarcoOlevano

Updated

Kumba Iron Ore Has been trading within the bounds of this channel for the most part of 2018. A daily close below the R260.00 support level, could see us move to a projected target of R198-R200. One would suspect many stale bulls holding above R260 and this break could see similar action as we saw on JSEAPN Aspen when it broken down from its longer term channel base @ R240.00

Note

Tried to bounce today but still holding below the R260.00 level

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