See link below for previous analysis.
Little has changed with Hulamin since the last analysis, 6 months ago.
If anything, price is consolidating further in a Contracting Triangle; a contracting triangle is a neutral pattern and as price consolidates towards the apex, the breakout tends to be more violent.
I remain neutral until we get a clear breakout.
Cup and handle has formed on Hulamin since 10 May 2023.
With these Penny STocks and less liquid markets, they can take a long time to form patterns and formations.
But when they breakout, they can rocket in the direction of the breakout.
I like that it's restested the support and brim level, and is showing that the buying is accumulating.
And that that...
See link below for previous update.
Hulamin did not kick on from the previous analysis and price is clearly in a consolidation phase.
I am seeing a triangle pattern forming which can break out on either side so I am now taking a neutral stance.
Ascending Triangle has formed since 13 June 2022 on Hulamin.
There are higher lows and same highs.
This means, momentum is pushing on up.
Other indicators include:
7>21 >200
RSI<50 - Higher lows
Target R3.59 and then R5.40
SMART MONEY CONCEPTS:
Now with Smart Money Concepts, we have something interesting.
A LARGE Bearish FVG (Fair Value Gap) has formed on...
I last covered Hulamin on the 26th of September 2022.
I have linked the previous analysis.
Earlier this week, on the 6th of March, Hulamin released its full year results for the year ended 31 December 2022 with the following salient results:
Turnover increased by 22% to R16bn on group sales volumes of 211 328 tons
Normalised headline earnings per share up 28% to...
W FORMATION formed on Hulamin which broke above the neckline today.
Tomorrow if the price opens above the Neckline the signal will be solidified.
7>21 - Bullish
Price<200 - Mixed
RSI <50 and bearish divergence
Target R3.59
FUNDAMENTALS
Hulamin Limited is a leading aluminum semi-fabricator and fabricator based in South Africa.
Hulamin produces a wide range of...
M Formation formed on Hulamin and we saw bearish signs
The market then broke below and has stayed below the neckline but is creating a somewhat Rectangle.
They buyers and investors seem to be holding the level and supporting it as much as they can.
Once catalyst and the stock will drop dramatically
200 >21> 7 - Bearish
RSI <50 and bearish divergence
Target...
M Formation has formed on Daily.
Things have been looking very bad for Hulmain for the last year now.
200 >21> 7 - Bearish
RSI <50 and bearish divergence
Target R2.25
General info:
Hulamin (est. 1935) is a South African aluminium rolled products manufacturer and distributor, listed on the Johannesburg Stock Exchange (JSE).
They produce a wide range of...
BULLISHness on good old Hulamin has struck.
We see the price breakout above the Ascending Triangle as price is also above >200MA
Target 1 - R3.80
Let's see how this one plays out as the price is meandering around the sideways levels. We need a strong catalyst for upside...
Hulamin with another attempt to break out of its 'base'. Previous attempts have been met with selling pressure. Will it successfully break this time? Only time will tell!
BULLISH
Ascending Triangle formed on 4 hour
We are just waiting for a break above R2.98
Price >200MA
Target 1 - R3.80
Concern is that the previous trend is down and the uptrend could very well fizzle but the bias is still bullish.
BULLISH
Ascending Triangle formed on 4 hour
We are just waiting for a break above R2.98
Price >200MA
Target 1 - R3.80
Concern is that the previous trend is down and the uptrend could very well fizzle but the bias is still bullish.
Take a look at the fundamentals before diving into this one on technicals.
Recent developments include:
1) potential major buyer/investor pulls out of the deal which led to the big share price crash.
2) Interim results showed good growth on HEPS, Revenue and Operating Profit.
3) CEO to retire at the end of September 2022.
Technically, a long-term bottom seems to...
The stock is retesting the neckline of the inverse head and shoulders pattern. It is also filling the liquidity void created during the break of the neckline.
A bullish breakout on Hulamin 2 days ago. The stock has been consolidating for at least the past 6 months.
But given we are in an era were breakouts are failing, it remains to be seen if this one will hold!
Received a query on the name, so I thought I'd also update it here:
Hulamin HLM - it's had a strong run over the 15-17 months and the weekly momentum looks to be in tact. Moderate resistance around this 490c level which is the prior support and breakdown level. If the share clears and holds above 495c then we could see 610 to 620c over the medium to long term....
Price has broken out of this rectangle setup tested the SR level at 474. Stock is a bit illiquid at the moment. A long position can be initiated when price closes above 475. As always manage your risk.
