Trade Insights

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Trade insight example

Reinet Investments

11 September 2014 

There is inverse head and shoulders formation on Reinet Investments. The pattern consists of a left shoulder, a head, a right shoulder and a line drawn as the neckline. Confirmation of the pattern was a break of the neckline resistance, and the projected price decline is found by measuring the distance from the neckline to the bottom of the head (2785c). It is important to use the price target as a guide and take into consideration other factor like oscillators, earlier resistance levels or key moving averages. The price closing below the right shoulder at 2480c (labelled R) would consider the inverse head and shoulders formation to have failed.

Below I’ve highlighted the USDZAR as Reinet is a rand hedge stock which British American Tobacco (BAT) contributes 75% of the portfolio. BAT is one of the world’s largest tobacco businesses, with a presence in more than 180 markets and 50 countries as well as significant growth potential in the BRIC nation. - Travis Robson, Head of Premium Client Management

Reinet Investments, 10/09/2014

USD/ZAR

11 September 2014 

The rand has broken out of a three month downward channel (A&B), and sharply moving above the R10.85 and R10.90 levels over the past two days. This smaller channel precedes a larger rising channel (1&2) where the support line goes back to early 2011. The rand has tested the R11.00 level during a brief intraday break but pulled back. Should the rand fail to break back into the channel, a new trading range could likely be formed and upside targets to watch over the medium-term are the R11.00 and R11.25 levels. - Travis Robson, Head of Premium Client Management

USD/ZAR, 11/09/2014

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