TBS did finally manage to break out of that consolidation pattern and now the question is, does it hold or break back into the box??. The play here would be to buy a bounce off of R218.00 for a target of around 235.00. Otherwise, short a break and close below 218.00 for a move back towards R205.00
Testing the upper range of the Bollinger Bands, which increases the likelihood of a temporary correction.
Retracted from overbought territory (See the RSI).
Remains a sell below 22893.
Recent upside momentum peak - supporting the bearish trend.
Big bullish pin bar made on Friday. A close above R200 triggers the long idea with first target at R210 and full target at R220. Stop loss a close below R200.
- Price has returned to the bottom of the range which has been in place since October 2020
- Looking for a moving back towards the top of this consolidation area
- A daily close below R191.80 would be viewed as bearish
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Tiger Brands trading at the bottom of the 8 month trading range. Entry at current level or a bit lower. Stop Loss will be daily close below 19300.
Profit taking area 20800 - 21800.
The 30w EMA is now above the 60w EMA.. Still dancing in the R197 - R218. I’m placing a limit slightly above the. 220.42 multi week high at R220.50 with a stop for the moment at 204.43.
This may change as time lapses. I might adjust my stop and accordingly change my position size as well.
Account balance :R7232
2% maximum risk: R144.64
Entry: R220.50
Stop loss:...
Tiger is moving sideways and presents another buying opportunity at the bottom of the channel. I would rather prefer that the weekly stochastic also showed oversold position. Fundamentally the company has given good results . Price just needs to brake through that strong barrier at 220 to shoot higher.
Update on post made 5 Feb 2021. Daily stochastic overbought, but weekly stochastic still way to go. While i would not buy at this time, i am holding on to current position. Will wait for turn around candle, or confirmation from ATR before considering a sell.
The stock broke through the 21600c resistance level. Now I’m waiting for the confirmation, a close above 22000c about 3% higher than the resistance. Taking into account the box theory the share is now moving into 22000c - 25100c box from the 19800c-21600c box.
- Price is in a consolidation phase within a clearly visible range
- Stochastics coming off oversold
- A move to the top of the range is likely here
- NB Trade update could be released soon.
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Waiting for a breakout. Weekly and daily stochastics over sold. ATR giving me a buy signal. Director Makhup Nyama has resigned. i Have a good feeling, going on the hunt.
Technically speaking this JSE stock is in a particularly tricky situation, on the one hand, it seems to have broken out of and gained some bullish momentum from its bearish trend. But on the other hand, it is facing major resistance and indecision. In the medium term, it would appear that there might be some upside to between 232 (Yearly R1 Pivot) and 250...
Tiger brand is looking good at the moment. Though the stock seems to be struggling breaking through the 21403c resistance level. A 3% close higher would confirm the trade at 22045c, only if the 30w EMA crosses the 60w EMA which is quite close. The preceding higher lows creates an ascending triangle pattern, which is a bullish continuation pattern, but could be...
Tiger brands seem to be undecided at the moment. We have both descending and ascending triangle patterns. We have an ascending triangle breakout which was halted by the descending triangle pattern. Creating a symmetrical triangle pattern. Waiting to see if the 20020c support/resistance holds in which direction. If it breaks to the long side, I will wait for my 30w...
