After missing our short entry, Remgro has reached a level that would have been my profit target.
Considering the fact that I would have bought the short back now, I think today’s mini “sell off” is a good opportunity to get long for bounce.
Here’s why my copy traders have gone long:
SMART trading has entered the Long trade near enough to support in view.
REM has tried to bounce twice in the last five trading days. I think at the current price we could see some buyers step in over the next few days…who knows, we may even see a re-test of that all important 200 day moving average.
Here’s the SMART copy trade details:
Entered long (Buy) REM (CFD) at R206.00
Stop loss placed at R201.00 (break of support)
Profit target at R219.00 (provisionally)