See link below for previous analysis.
Tiger Brands has traded as forecasted.
Wave (iii) was ignited by the CEO stepping down and the momentum was sustained with very small pullbacks.
Wave (iv) has unfolded as a flat pattern and wave (v) is underway with the invalidation level now raised to 18930.
Wave (v) is always risky as it is hard to forecast how it will...
Tiger Brands stands as a titan in the South African food industry, boasting an extensive portfolio of beloved brands that span a range of food categories. The company's resilience is tested time and again by challenges such as the tragic listeriosis outbreak, rising input costs, and the unpredictable South African consumer market. Despite these hurdles, Tiger...
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...
The stock has run hard from swing low (currently up +43.66%)
RSI is in overbought territory and we at the next major level of interest. Bulls need to defend
R194 and more importantly -> R183 in the short-term to keep the momentum going.
Successfully doing so and next logical target is the swing high around R225.
A price action above 18100 supports a bullish trend direction.
Increase long exposure for a break above 18700.
The target price is set at 19500 (61.8% Fibonacci retracement level).
The stop-loss price is set at 17400.
The confluence of testing its 200-day and 200-week supports a bullish trend direction.
Remains a risky trade.
See link below for previous update.
The market loved the SENS announcement of the CEO stepping down as the share shot up more than 14% from the open.
I am still maintaining the tentative labeling of the down move from 22958.
What is key is that 13427 is still holding and price action from 13676 looks impulsive but I want to see five wave up to have a high...
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,...
Tiger Brands
Symmetrical triangle pattern formed as continuation to a downtrend.
Price has broken out.
Mas 200>21>7
RSI<50
Target – R143
Tiger – the company
Tiger Brands Ltd is a South African packaged goods company that operates in the food, beverages, and healthcare sectors. It is one of the largest consumer goods companies in South Africa and has a presence...
The last analysis of Tiger Brands was on 31.05.2023, link below.
The stock is trending as forecasted and looks to be in wave ((v)) of 3 or C.
Wave ((v) can unfold as an impulse or ending diagonal.
What is also critical for the larger structure is to see whether or not 13427 holds.
A price action above 15900 supports a bullish trend direction.
Further bullish confirmation for a break above 16400.
The target price is set at 16700.
The stop-loss price is set at 15800.
The grey shaded area created a range trading setup.
Remains a risky trade.
Accumulate at current levels or better (lower). Key Drivers: Improving candle structure + emerging from downward trending channel + 14-day RSI at multi-month highs (trending up). Please note that the price could retrace slightly before continuing it's bullish reversal. Upon the share advancing, traders could consider the following: (1) bank/take profit as the...
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...
Tiger Brands had a good run since the first analysis, link below.
The stock fell just short of my target of R240,00 and peaked at R229,58.
The advance from 13427 to 22958 unfolded in five waves.
After a five wave advance, we can expect a three wave correction as a bear minimum.
I am tentative on the long-term outlook hence i have not placed a higher degree label...
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 had its fair share of operational issues and bad news and is currently trading a long way off its all time highs.
Perhaps there's a ray of hope if the latest trading statement is anything to go by.
Technically, a run up to R240,00 looks possible. Selling momentum has been waning as seen by the double convergence in the price and MACD.
