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Online Share Trading

Engage and learn about markets and trading online

Merafe

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djw
Regular Contributor
This share seems to be going nowhere. Been around 140c for the last 6 months. Is this a share woth holding on to even with copper been so high?
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5 REPLIES 5
mikki
Contributor
The last time I looked they were involved with ferrochrome and coal - no copper.
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Mar-11
Super Contributor
Im currently holding this stock, need a positive break out of 149+ (strong resistance at previous support, Dr Rof was even speaking about this happening in alot of other stocks aswell), then could see some nice upward movement....
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Russ
Super Contributor
Mrf was my favourite stock.In Jan 2007 I got in at 75c.I then got in and out a few more times until it reached its high of around 430c in July 2008.As the song goes,those were the days,my friend,I thought they'd never end.Unfortunately they did,and Mrf went down,down,down,in a burning ring of fire,to smack 57c about 5 months later.Luckily I was out by then,but I wonder when we will see times like that again.
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Russ
Super Contributor
Looking at the chart,there is some similarity in the pattern between Jan 07-Aug 07 and the pattern of the last 11 months.Maybe the upswing is not as sharp but the pattern is similar.Maybe it is consolidating before its next up-leg?
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Mar-11
Super Contributor
Noticed the similair pattern aswell..... i think there is little risk of downside below 128 and (if)then 122,(unless the unlikly event of another econmic melt down, stop loss just below these levels and you should be pretty safe>imo
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