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.
Large Tripple Bottom There are also two Cup and Handles formed in the recent past. Now that price has broken above both Brim levels it's looking bullish. RSI> 50 and above the downtrend line. Target R219.05 CONCERNS Liquidity is low and it causes spikes in prices. Such a large formation, can sizzle out the price move and it can continue sideways for the next...
Tiger Brands - follow-up. Strong run since 07 June idea (see attached). Initially, looked for a pullback, followed by an upward swing. Yesterday, the trading statement saw an 'earnings surprise'. In addition, the share tested an 8-month absolute high and 10-month high relative to the JSE Top Index. For more, research insights, including trade ideas, get in touch today.
Original idea attached (07 June). The price subsequently moving along the 'potential price path'. The 15500c target level has been hit.
Share has been in a downtrend for quite some time and remains very weak. Breaking below the low it made 12 May. My short target is 12400.
TBS - During the March 2020 Covid crash I mentioned that anything below 13700c is worth a look in terms of a medium term equity position. Recently the share traded just below 13700c, fluctuating around this level followed by a rebound to around +15000c. This was a prior short of mine with the de-rating over the past 4 years being massive as the share declined from...
- Tiger brands has been on a steady decline since reaching a high of R406 in 2018 - It has reached a swing low last seen during the covid market crash and the same price level it was at mid 2011 - It pays to stay in stocks that are trending upwards
TBS is still trading rather bearish within its downward channel since July 2021, currently its trading in a 6% box consolidation for the last 6 weeks and can easily breakdown further if the bulls loose support at the R174.50 mark, *Disclaimer* - ideas shared in the above is for educational purposes only and IS NOT trading or financial advice.
Please see chart for summary of technical analysis. My overall sentiment towards Tigerbrands, is that the share price is not accurately reflecting the Fundamentals of the company. Considering the "Net Profit Margin" & "Return on Equity" have remained positive for the past 5 years, alongside other Valuation metrics such as the "Return on Capital Employed" staying...
Stochastics are oversold on the weekly and daily charts. With the festive season coming up they might experience a boost in sales, and i think that it might go up to the 200day ma at about 22290. Moving sideways and consolidating at the moment. A Move to those levels might even signal a break to the top
Price currently in bearish channel, a break of which can take price 170.
a nice 2 R:R opportunity on Tiger Brands. The found some support and broke the down trendline. Expecting the stock to go restest the resistance 22600
- Nasty breakdown of the the R185 level after a trade update - If Bulls can't regain this level, downside targets R170 on the bear flag breakdown - Above R190 will see a short squeeze with some decent upside. On the sidelines for now -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
As with AVI...With SA retail once again brought to it's knees, we do have some (unfortunate) opportunities, especially with our food producers. With supply chains disrupted and store shelves empty, we can only expect the "re-stocking" to benefit our brand owners and food producers. This is a buying opportunity for unusually high demand when the looting is over....
The recall of canned goods now out of the way, Tiger can give a nice buying opportunity above R190. Stochastics over sold, and price range at the bottom of a upward channel. Potential target could be the 200ema. Also grants are being dished out again, which can only work in their favour.
The name was part of my covid bargains watch-list with a flag in Feb-2020. It got to a low of R143 and rallied to $228 in recent times however, every other year there seems to be some type of problem which surfaces which then weighs on reputation and is now being reflected in the price. Share in the dog-box for now.