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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

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Coronation Fund Managers Ltd

20 July 2015 

Coronation has been under severe pressure since February. In my previous Trade Insight, I was looking for a move from 8000c back up to 8300c and above it with a targeted move up to 8900c. A further drop to a low of 7642c quickly thwarted this. The ensuing price action has created what seems to be an inverse head and shoulders pattern, which is indicative of a reversal pattern after a downward trend.

A break of the neckline to the upside at 8300c on an expansion of volume would put the pattern in play, potentially targeting 8850c as an initial target. A break below 8080c under the right hand shoulder would consider the pattern to have failed and the downside to continue. 

Sasol Ltd, 20/07/2015

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