Selling all CLS @ R267-70 and adding a new position in Steinhoff (SNH) @ R1-16 for the long portfolio.
CLS has done well so far for the long portfolio, but does not have that much more upside potential. It's only about 5% exposure, so not a big shift in the portfolio.
SNH has been trading in a pretty close trading range of late, and has strong support at R1-03, which is the bottom of its trading range and its ultimate buying price. The Reward to Risk ratio is extremely good at current levels. I did want to trade it 2 days ago , nevertheless, its still a very good buy.
With the rand weakening at an alarming rate recently, this makes sense why SNH has such strong support as they have a lot of assets abroad.
Edited by Pilotpilot, 23 April 2020 - 08:29 AM.