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Trade insight example

Coronation Fund Managers Ltd

11 May 2015 

Investor sentiment in Coronation has been evidently bearish after their trading statement on the 28th of April noted diluted HEPS would be between 5% and 15% lower for the half-year ended March 2014. The company has been guiding towards lower returns in challenging market conditions for some time and this is now clearly starting to show with previous HEPS for the financial year ending 30 September 2014. Since April’s statement, the share price has dropped almost 16% from open to close.

Traders may be tempted by off the support where the share price broke under the long-term diagonal support emanating from September 2013 (black diagonal line), having culminated in what looks like a false break or short squeeze with bulls driving the price upwards to finish positively by the close.

Volume was strong over the previous two days, and traders may be looking for another positive day today with a close above the previous Thursday’s bearish candle at 9000c for an indication of further upside. Caution should be exercised; you may want to avoid catching a falling knife, with the share price still trading well below its 200day moving average. Some may see the crossing of the 50day moving average over the 200day moving average; known to some as the death cross as an indication for further downside.

Sasol Ltd, 08/05/2015

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.