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Innocentmaponde

Richemont: Bulls and Bears still undecided after Trading Update?

COMPAGNIE FINANCIERE RICHEMONT SA (JSE:CFR)  
Innocentmaponde  
JSE:CFR   COMPAGNIE FINANCIERE RICHEMONT SA
Trend Analysis
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trendanalysis
After last Friday's (11 Jan) release of a trading update by Richemont (CFR), we saw price temporarily breaking the R94/R95 resistance to hit a high of R96.28; but only to close at R94.68, with an 'indecision' Doji candlestick forming for the day.
Yesterday's (14 Jan) price action saw us closing below the critical R94/R95 area (at R93.90).
The R94/95 resistance area, and the R88/R89 support area still remain critical areas for a break either side.
Overall, I'm bearish.
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