After an insane run up and beautiful trade, Tigerbrands has now reached it's peak and has formed an M Formation.
We thought the price was going to close below and open below th neckline.
Instead there was a largeish exaustion gap.
An Exaustion Gap is a gap in the price where no activity took place due to the fact that the current trend (upside) is exausted...
Rev Cup and Handle has indeed formed on Tigerbrands.
And it looks like the buying and demand is on point. However, this is a very aggressive buy point which does not work with my trading demeanour.
It looks like this share price rally was fundamentally driven with the CEO stepping down.
Tjaart Kruger will replace Noel Doyle as the CEO starting 1 November,...
M Formation has formed on TBS.
This is from the prior downtrend showing difficulties for the company.
Now that the price has broken below, there is a higher chance of the market to drop.
200>21>7 Bearish
RSI<50 - Downtrend momentum.
Target R130.00
CONCERNS: If the JSE ALSI 40 rallies to new highs and breaks out of the Broadening formation, it might slow down...
Inverse Cup and Handle formed on Tigerbrands.
We were waiting for a break down out of the brim level, but alas we never got the entry level.
Instead it gapped down and is already on its away to the target.
It was a missed opportunity but we couldn't do anything about it.
200>21>7
RSI<50
Target R134.44
SMC: Buy Side Liquidity Order block formed above the...
CHALLENGE TRADE UPDATE:
Tigerbrands (TBS)
TAKE PROFIT REACHED
After a long hold of almost 2 months, Tigerbrands reached our take profit price at R219.05.
I was a bit hesitant considering the global chaos and downside that has come down on the markets. But I guess because Tigerbrands is less connected offshore, is the one of the reasons why it's wings were not...
Tiger Brands has traded in a redistribution trading range (TR) and after breaking the TR it has attempted to break back into the TR but was unable to so. We have now seen signs of weakness (sow) which followed no demand on the increase. The previous attempt to rise with volume (effort) showed little response indicating that sellers are in control. After some...
After redistribution and a backup (BU) to the trading range (TR). We have seen some supply volume and a strong move down indicating the markdown is gaining momentum.
Tiger Brands has broken a historically important level of R240. It has now back up and tested the level. High volume at the level and negative divergence on with the volume RSI points to a continuation of the markdown.
