The Glencore-Merafe joint venture, a significant player in the ferrochrome industry, operates mines, furnaces, and smelters predominantly in Mpumalanga and Limpopo, South Africa. This joint venture is one of the largest ferrochrome producers globally, with the capacity to produce up to 2.3 million tons of ferrochrome annually. Merafe Resources, as part of this...
What a difference a dividend makes! The payment went out on the 15 April 2024, and because there are derivatives that traders can trade off - the algorithm droped the share price quite significantly. I don't think this company should be providing such high dividends if it wants growth in the share price, but hey I'm just the guy behind a computer. So last...
Merafe was easily set to great upside to R1.72 This was due to a Box Formation, Upside and Price above the moving averages. But then 22 cents Dividend was given out which caused the share price to drop quite quickly. So is the analysis still on? I guess it is as long as it hasn't hit the risk level. But these are things to take into account and learn from.
See link below for previous analysis. Merafe has broken above the critical 146 neckline and looks likely to close the week above it. This confirms the double bottom pattern and the price target 200cps. Price can still reverse back below 146 but the bullish outlook is invalidated below 104 cps.
Rectangle formation has completed with Merafe. There has been a strong bullish sense with the stock, where the price action has shot above the pattern and is showing upside and demand to come. We are seeing other signs as well with optimism. Price>20 Price>200 Target 1 will be at R1.72
The operation in question, a joint venture between Glencore and Merafe, represents a significant presence in the ferrochrome industry, with the capacity to produce up to 2.3 million tons of ferrochrome annually. Merafe's stake in this venture entitles it to 20.5% of the proceeds, with the remainder accruing to Glencore. This collaboration underscores the strategic...
We see Merafe has definitely entered into a Rectangle formation. Price is remaining above the 200MA where it could range between the high and low. We definitely need a breakout to the upside, before we see upside. The target potential will be at R1.61 if the price breaks above the Rectangle. Now I wouldn't be that positive and optimistic with this analysis,...
This is a ferrochrome operation controlled by Glencore which operates mines, furnaces and smelters in Mpumalanga and Limpopo. The Glencore-Merafe joint venture can produce up to 2,3m tons of ferrochrome per annum. Merafe gets 20,5% of the proceeds and the balance goes to Glencore. The problem is electricity supply, because smelters require huge amounts of current....
See link below for previous analysis. Merafe is still trading within the 146-104cps range and the sideways consolidation can evolve into a triangle pattern. I am changing my stance from bullish to neutral until price gives clarity with a break above 146 or below 104.
This is a ferrochrome operation controlled by Glencore which operates mines, furnaces and smelters in Mpumalanga and Limpopo. The Glencore-Merafe joint venture can produce up to 2,3m tons of ferrochrome per annum. Merafe gets 20,5% of the proceeds and the balance goes to Glencore. The problem is electricity supply, because smelters require huge amounts of current....
Merafe Resources has been ranging between R1.03 and R1.47 since it found resistance around R1.47 on 5th of August 2022. Overall long term outlook on the stock is bearish, considering that after price found support at R0.23 in March 2020, it had a beautiful rally until April 2022 when it reached highs of R1.96, slightly falling short of breaking the highs of...
Cup and Handle has formed on Merafe and once again it looks like it's going to head to the top of the channel yet again. Also results have come out beating expectations by over 30%. We have other indicators showing upward momentum including: 7>21 Price<200 RSI>50 Target R1.47
Merafe stock had a strong from March 2020 to April 2022 rallying from 24 zac to 196 zac in a clear five wave pattern. From 196 to 104, the stock has seen its price drop 47% in what looks like a three wave bear market correction. The current bear structure is of a truncated zigzag were wave C does not make a new low relative to wave A. If this structure is...
Merafe has broken out of the short term resistance of R1.25, retraced and is forming a candle with aa long bullish tail. First target is for the gap to be closed. All my indictors are also giving buy signals
Cup and Handle formed with Merafe with the previous Breakaway gap that took place. The price has broken above the Brim level and is flirting with the 200MA. Also the price needs to move up to fill the gap. These are all bullish signals including: 7>21 Price<200 RSI>50 Target 1 will be to R1.47 ABOUT THE COMPANY Merafe Resources is a South African mining...
First, Merafe hit our target at R1.00. This was due to a Box Formation which the price broke below. Also above the Box Range was Buy Side LIquidity, where Smart Monet came up and swept and sold into the levels. This brought the price down and then some. Inv Cup and Handle formed on Merafe. And the price has broken below the brim level. Also the price is...
Range bounded has been the overall trend for Merafe. It seems like there is just a fight between the bulls and the bears. We can only assume the price is most likely to break up due to the previous momentum. I will only wait for a break above or below the range before acting upon. MAs are all close confirming the sideways movement. SMC: There needs to be a...
M Formation formed on Daily, which the price broke below. 21>7- Bearish Price <200 - Bearish RSI <50 lower highs Target R1.08 SMC Buy Side Liquidity Order Block formed which was at the top of the M Formation. This is where Smart Money comes in and sweeps buying liquidity from buyers going long and shorters getting stopped.