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I’m often cautious when prices have run too hard. Take ABG that made a move from 7500c-7600c all the way to 10500c. We had a long at 7691c with the expectation that the share would merely just add a few Rands – of course – it went much higher than expected. Pullbacks, which we’re seeing now, is healthy and provides another opportunity to get long. If we pull back into 8500c down to 8400c (with strong bids) then I would recommend a fresh long. Stop: 8230c.
I’m often cautious when prices have run too hard. Take ABG that made a move from 7500c-7600c all the way to 10500c. We had a long at 7691c with the expectation that the share would merely just add a few Rands – of course – it went much higher than expected. Pullbacks, which we’re seeing now, is healthy and provides another opportunity to get long. If we pull back into 8500c down to 8400c (with strong bids) then I would recommend a fresh long. Stop: 8230c.