Lux­ury you can af­ford

Banks look ready to rally

Finweek English Edition - - Creating wealth - COLIN ABRAMS

FOL­LOW­ING ON FROM the chart of Stan­dard Bank, pre­sented here two weeks ago, we look at the chart of the JSE bank in­dex to show what to ex­pect from those stocks in gen­eral on the JSE. But first we look at a chart of rand hedge lux­ury goods group Richemont. It’s moved side­ways for a num­ber of months but is now be­gin­ning to move up again. Its chart shows a re­cent break­out and Richemont should be bought for more ral­ly­ing.

Like­wise, SA bank­ing shares are point­ing to more up­side to come for the fore­see­able fu­ture.

Please note: For more rec­om­men­da­tions and charts by the au­thor on shares, stock in­dices and com­modi­ties please go to www. the­mar­ket.co.za.

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