It goes without saying that one the best outcomes for a trader is banking for a profit. Yes, I know you might have a process with rules that determines whether a trade is good or bad but knowing that you've just made some real money is a feeling that we can all resonate with.
Look at Capitec Bank.
On Thursday morning we published a note which highlighted the probabilities over the 3 time frames. It also showed the share being in a high bullish momentum regime while approaching overbought.
Consider this, the short term data stated the following: "Buyers in in control, but do NOT chase...if it does hold the highs, the 8-EMA may be a short/sell target.
To add, the medium term data stated the following: "Aggressive buying but, do NOT chase...if it does hold the highs, the 8-EMA may be a short/sell target.
This reading was taken just after the open where we already started to see some weakness as the share was failing to hold it's highs.
The share closed below the prior session lows and then on Friday the weakness continued as the entire week's range lows were taken out.
The move? About a 5% decline from the time of the note.
If you're trading leveraged product such as a Contract For Difference (CFD), then the move is a multiple of that.
This information is an opportunity, for you.
This information is profit, for you.
If you're not capitalizing on these opportunities, ask yourself: "could I be missing out of money-making opportunities?".
Most recently we also discussed CPI in the following note:
"2 Risks + 2 Opportunities" > https://www.unum.capital/post/cpi-two
Trade Capitec Bank & other JSE Shares with Unum Capital.
To get started, email lester@unum.co.za
Previous Post (Thursday, 27 March at 09h22): Trading Note: Capitec Bank
Lester Davids
Analyst: Unum Capital
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