Richemont Deja vu in March…
Its been a year today when I put out a Stock Alert on Richemont … now that’s deja vu!
Richemont’s price has been under pressure since the Rand started it’s 30% rally in November last year…but are things about to change? We are starting to see some weakness creep into the currency now and that should bring some of our dual listed stocks back into play.
Technically, on the daily chart, the price has come down to test a multiple bottom zone which has acted as support since the break-out in March 2017. Now trading at the same level as a year ago, we could see the price make its way back up to test the 50 day moving average.
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Unum Capital (Pty) Ltd