My pick of the week March 26 2010 has to be NHM ( Northam Platinum ). Technically NHM is trading on her support & all the oscillators are grouping at the bottom. The STS & RSI showing strong buy signals. Fundamentally platinum is in demand , vehicle sales are picking up & generally there is a good feeling around commodities. NHM has been a favorite for a long time & I don't see that changing anytime soon.
Entry: R45.50
Target: R50.00
Stop Loss R44.00
My next idea for the week: Short ABL ( African Bank )
This share has run hard basically following all the other banks & not really on its own strengh even though it has reasonable financials no dividend was paid.The problems in Europe are not going away and talks of possible default still remain in the air. Technically ABL is heavily overbought & I dont see much more upside.
Entry: R36.00
Target R30.00
Stop loss R38.00
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