BrendanKZN

Tiger Brands LTD - Long Term Setup

Long
JSE:TBS   TIGER BRANDS LTD
Price is below the yearly Pivot Point and the yearly VWAP "gap" ( volume weighted average price ), its the thickest blue line, the other blue lines are lower time frames which also play a role in their own.
I prefer this type of setup to trade, being below average price and after hitting a bigger support which held (green dotted line) we look for signs of reversal, we need to test an area a bit lower where we can then apply our risk managed trade at R204. It can by all means continue further down, but we have a higher probability here of a reversal. Some might see this as an "Inv HNS", I don't look at patterns. Good luck.

I don't like this percent gain vs time on this stock, but see how it goes.

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