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Super Contributor
This one is starting to look interesting. I believe we could have reached a support bottom here with a 7% upside potential to 132. omo
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Super Contributor
Entered here @12470. Let's see how this goes. New 12 month low will raise the alarm bells. omo
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Super Contributor
still short, with stop moved from 138 to 132.Buyers will come in around 115, and any move up now will be just short covering which could take the share closer to 130. I dont see any real upward move until the 160 level is reached.
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Super Contributor
Any real upward move up to 160 ? - That's 27% away ? 118 seems to be a supporting trendline dating back to 2002, and you can already see buyers coming in at anything that seems like weakness. I think we're very close to breaking that RSI downtrend line. My first target is 132. I' don't believe we'll see 115. omo
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Super Contributor
yes agree with your 27%, a traders share. For long term investors, 160 will take it to the highs of 207 and then beyond. If stays below 160, it may trade back to 120 level.
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Super Contributor
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Super Contributor
Good call. 132 and I be out....will look to re-enter the short higher up, maybe around 138-140.....
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Regular Contributor
I think it's too early to say both fundamentally and technically. I sold last year at R170, and am waiting to see the impact of inevitable higher interest rates on retailers before re-entering.
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Super Contributor
did not close above 132, so still short.
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