Trade Alert: Reinet Investments (RNI)

by / / Trade Ideas

The weakness in the US Dollar has put pressure on rand hedge shares including Reinet Investments, which holds as it’s main asset British American Tobacco. Since November 2017, BTI is down from nearly R950 to most recent lows of R726. Similarly we have seen Reinet decline from R298 to the current level of R237.12. With the Rand back above R11.70 and local stocks under pressure in the ultra short term, my idea would be to find opportunity and protection in Rand hedges.

Trade Levels:

Buy/Long Reinet (RNI) at R236.00/238.00
Stop-loss: R227.00
Take Profit: R252.00

Lester Davids

Lester Davids

Trading Desk Analyst at Unum Capital
Lester started his career as an intern in the Group Schemes Risk Management department of Old Mutual in 2006 after having attained his National Diploma in Internal Auditing from the Cape Peninsula University of Technology. After a year and four months of service he took up the opportunity offered by Deloitte's Risk Advisory Services for a three-year contract as a Trainee Internal Auditor.

Whilst searching for employment after his had contract expired, he made the decision to document his ideas for his personal passion which was financial markets with a view to build a public profile and record of all work.

His passion for investment and market-related content dates back to his love for reading having started to notice the financial market data alongside the sports pages as a university student in 2004.

Lester is Trading Desk Analyst and has been with Unum Capital since July 2016.
Lester Davids