After rising from R5 in early 2003 to R24 in May 2006, the share has been in a consolidation phase, trading between R23 and R26 most of the time since August 2006. R23 has been an important support level.
As Steinhoff is an excellent global furniture manufacture and distribution company with solid growth potential, its fundamentals are sound. Investors can look to buy when the share price falls to around R23.
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