Our Mid-term budget showed just how bad things are and we saw the currency blow out above R15.00/$. We also have Moodys tomorrow and there is a good chance that we may get bad news from them.
Technically, the SBK chart has formed a bearish head and shoulders which could see the price drop quite a long way. I have entered our short (for SMART portfolio clients) at 175.50 with a stop loss at 184.00. I am only risking 2% of my portfolio. I am targeting 155.50 however, I will play this one by ear. robp@unum.co.za
Technically, the SBK chart has formed a bearish head and shoulders which could see the price drop quite a long way. I have entered our short (for SMART portfolio clients) at 175.50 with a stop loss at 184.00. I am only risking 2% of my portfolio. I am targeting 155.50 however, I will play this one by ear. robp@unum.co.za
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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.