It was generally a good week for Old Mutual and PPC, both counters recorded gains during the last fortnight and ended the week firm. African Sun which the local papers said is in the process of renaming its Holiday Inn Hotels and cutting off ties with the Holiday Inn brand was surprisingly firm too. Colcom was definitely trading in an oversold territory having dropped to 30c, as was Astra. Other notable movements up for the two weeks in review were Ariston and Zimpapers.
Deep in the red and now in an oversold territory is Econet. In 6 successive trading sessions the share dropped to 360c on Friday. The counter wasnt alone in this predicament!Fidelity and AICO after a fine run were being sold for a nice profit. The three counters had seen a good run which ended Friday on profit taking.
In the two weeks ahead watch out for a recovery in CFI, M&R, Econet and Truworths. They have all been oversold. Watch out for these stocks too in coming weeks Hwange @30c target 43c and Barclays @ 4c target 5.5c
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