Trade Alert: Reinet Investments (RNI)
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.
Buy/Long Reinet (RNI) at R236.00/238.00
Take Profit: R252.00
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.