Strat­egy:

Finweek English Edition - - COMPANIES & MARKETS -

Buy. Zeder has been a good and steady per­former since 2009, dou­bling its share price since then. It’s mak­ing its way up to its all­time high (line 3) at 300c. (At the time of writ­ing it was trad­ing at 250c.) It’s formed a sym­met­ri­cal tri­an­gle (lines 1 and 2). It re­cently broke out above line 2 but has since moved back in­side the tri­an­gle. Nev­er­the­less, the price pat­tern still looks bullish. Its daily sto­chas­tic is mov­ing back into its over­sold re­gion, which typ­i­cally means a rally to oc­cur soon. There­fore, any pull­back is likely to be tem­po­rary. Buy it at cur­rent lev­els (250c) for the short/medium term. If it pulls back closer to line 1 (242c), so much the bet­ter (for buy­ing). It’s tech­ni­cally point­ing to a tar­get of 308c – ie, the height of the tri­an­gle pro­jected up. But be­cause there’s a lot of re­sis­tance at line 3 (300c) take prof­its there. The stop-loss is a close be­low 239c. (see page 42)

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