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Richemont

#CFR Richemont Roars Back: Ready to 'Rumble' Up the Charts!Richemont (JSE:CFR) Breaking the significant down trending channel which has held price lower since July in a very controlled 'Fashion' (excuse the pun). The level we bounced from is the 50% fib retracement from the May 22 lows and May 23 highs. RSI and MACD has been building divergence for weeks where the indicators made higher lows which was not confirmed by price.. Putting this all together, I think we have a good trading opportunity to get long CFR here with a stop loss below recent lows at R2158, with targets at approx. R2500 R2600 and R2700 (200day ma).
JSE:CFRLong
by MarcoOlevano
2
Richemont breakaway gap for the downsideInverse C&H has formed on Richemont. Before the handle formed, it made a Breakaway gap. This is where the price stopped its current uptrend, broke below where there is liquidity that didn't fill, and then continued down. Now gaps close 70% of the time, so we could get a spike up before the downside. But that would be for a conservative trader. Other indicators show downside to come. 7=21 Price>200 RSI <50 Target R2,299 ABOUT THE COMPANY: Origins: Richemont was created in 1988 by South African businessman Johann Rupert. Its creation represented the spin-off of international assets owned by Rembrandt Group Limited of South Africa. Headquarters: The company's global headquarters is located in Bellevue, Switzerland. Luxury Brands Portfolio: Richemont owns several of the world's leading luxury goods companies, with particular strengths in jewelry, luxury watches, and premium accessories. Their portfolio includes brands such as Cartier, Dunhill, Montblanc, and Van Cleef & Arpels. Watch Expertise: The company is known for its Swiss watchmaking brands like Jaeger-LeCoultre, Piaget, IWC, Baume et Mercier, Vacheron Constantin, Officine Panerai, and Roger Dubuis. Global Reach: Richemont operates in over 35 countries globally and sells its products in over 100 countries.
JSE:CFRShort
by Timonrosso
Richemont shooting up since share distribution to R4,142 Rising Wedge has formed on Daily. Normally you expect the price to break down as it's generally a bearish pattern. However, as the trend is up, the wedge is up and the gap is up - signals strong upside. The price has broken up, and we could get a bit of downside before the next move up. 7>21>200 RSI>70 Target R4,142 FUNDAMENTALS: It seems like since the share distribution 1:10, investors are seeing the share as a valuable one to hold in long term portfolios, which is why they're buying the share up. R3,400 is more attractive than a R340.00 share clearly. We'll have to see how this one plays out
JSE:CFRLong
by Timonrosso
FUNDAMENTALS-Share Consolidation (Reverse Stock Split) RichemontOn 19 April 2023, Richemont went through a Share Consolidation (Reverse Stock Split). That's why we saw the price move from R300 up to R3,027 (909%). But before you get excited with whether you could have profited big time we need to remember what a Reverse Stock Split is... What is a Reverse Split (Share consolidation)? • The opposite of a stock split where • When the company makes a corporate action to • Reduce the number of its outstanding shares to its shareholders • Which simultaneously increases the share price • The shareholder will still have the same value proportional. What happens to the par value of the share price? A decrease in the number of shares means that the share price will go up! Why would a company do a reverse spit? The company might be under the impression that shareholders think the share price is too low. So, they’ll cut the number of shares and increase the shareholder which will give the impression of the share price higher and more valuable. EXAMPLE: With Richemont – 19 April 2023 SPECIFICS: Share consolidation: Reverse Stock Split 10:1. BEFORE: The share price was R300.00 AFTER: The share price is R3,027 No. SHARES OWNED: 100 AFTER CONSOLIDATION: For every 10 shares you owned before, you now own 1 share. So your 100 shares would be consolidated into 10 shares. OVERALL VALUE: BEFORE: 100 shares X R300 = R30,000 AFTER: 10 shares X R3,027 = R30,270 In this case, the value of the investment has indeed increased after the share consolidation but only marginally.
JSE:CFREducation
by Timonrosso
What just happened to Richemont? 911%!REMINDER: Compagnie Financière Richemont (CFR) is a Swiss luxury goods company that has a subsidiary in South Africa. The subsidiary's depositary receipts and warrant receipts were previously listed and traded on the Johannesburg Stock Exchange (JSE). However, starting from April 19th, 2023, these financial instruments will be suspended from trading on the JSE and relevant A shares and relevant A warrants will instead be listed on the exchange. Hold your horses! The 912% increase in Compagnie Financière Richemont (CFR) share price likely resulted from the conversion of financial instruments related to the company's South African subsidiary. The company announced a deadline for the conversion of depositary receipts and warrant receipts, which resulted in the suspension of trading on the Johannesburg stock exchange and the listing of relevant shares and warrants on the exchange. This process likely had a positive impact on the company's share price and resulted in the significant increase.
JSE:CFREducation
by Timonrosso
1
CFR - Backtest of doom?Looking at the Richemont, we may derive the following from the weekly chart: 1. CFR is at a notable resistance level where price has slowly started to reject the previous trend line. (The backtest) 2. We are seeing a correction pattern in play. 3. I am favouring a move to downside in the near future. 4. If the backtest holds, bears will bring the price down. 5. As always - maintain your risk management. Let's see what happens. Note: The views provided herein do not constitute financial advice.
JSE:CFRShort
by zeerotrader