JSE:TGA back at the recent low level, not the absolute low. A break below the absolute low will send the stock towards R120/share, with a possibility of reaching R100/share.
Time will tell.
JSE:TGA has been on a downtrend and breaking below potential support levels. The stock fell ex divi, and it's now hovering near an area of value. Without support at this level, the downward movement will continue. R120?
This chart shows (my) JSE:TGA levels of interest, the price won't necessarily follow any of these anticipated moves.
The stock has to remain above R154 otherwise R120 becomes a possibility. It's a question of where are there any buyers that are willing to buy the shares at these levels and push the price up. Currently, the stock is trading below declining MAs,...
Large H&S sine May 2022
It broke down and has been on a trajectory path downside.
Indicators are still bearish
200 >21> 7 - Bearish (Red)
RSI <50 Red
Target R88.70
SMC: We know the overall trend is down. There has been a BOS (Break of Structure) twice.
And now with the big candle there is a testing zone to see if there is buying or demand.
Once we get a break...
As expected, JSE:TGA came with great results. >100% revenue and profit increases, and a fat dividend of R40/share. Great.
The share price is testing the previously anticipated low of near R177/share; the share price has been moving downwards since the last dividend declaration. Hopefully buyers will step in at current levels, especially dividend hunters. It...
Large H&S since May 2022 formed which gave a Medium term trade.
Since it broke down, I know it would take a longer period for the price to drop due to the size of the formation.
Remember, companies will try everything in their power to keep the price up and without a strong negative catalyst, the formation will either play out or forma another pattern in the...
Thungela has formed a Large H&S cine May 2022
The price has broken below the neckline and seems to be dropping further.
200 >21> 7 - Bearish (Red)
RSI <50 Red and has formed a Bearish divergence.
However, the price is coming down with the RSI which confirms a bear market.
Target R88.70
General info.
Thungela Resources Ltd (formed in 2020 in JHB as a spin off...
JSE:TGA is back at the recent dividend announcement level. The stock is still trading above the 200MA & it's at an area of value. Will there be buyers at this level, and the impact of NYMEX:MFF1! prices?
