UPDATE: Afrimat on target to R66.75 and a new pattern arises
Cup and Handle was the last pattern we used to make this prob prediction.
Lately, we have had the price fall into a Falling Flag consolidation formation.
And the price has already broken up and out of it.
This means, we can expect upside to continue and head to our first target of R66.75.
7>21>200
RSI>50
Target R66.75
ABOUT THE COMPANY
Afrimat Limited is a leading black empowered open pit mining company in South Africa.
Name:
Afrimat's name appears to be a combination of "Africa", reflecting its roots and primary operational region, and "mat", which could potentially be derived from "materials", representing the company's core business in supplying construction and industrial materials.
Founding:
Afrimat was founded in the early 1960s as the Lancaster Group, and was rebranded as Afrimat Limited in 2006.
Listing:
The company is listed on the Johannesburg Stock Exchange (JSE), and its listing took place in 2006.
Headquarters:
Afrimat's headquarters are situated in Durbanville, Cape Town, South Africa.
Operations:
Afrimat operates nationally in South Africa, and internationally in Namibia.
It provides a range of materials, including aggregates, industrial minerals, and commodities.
Aggregates:
The company started as a producer of building aggregates, but it has since diversified into a wide range of mining and related sectors.
Industrial Minerals:
Afrimat expanded into industrial minerals and now produces dolomite, limestone, silica, and others.
Leadership:
Andries van Heerden is the Chief Executive Officer (CEO) of Afrimat.
Lately, we have had the price fall into a Falling Flag consolidation formation.
And the price has already broken up and out of it.
This means, we can expect upside to continue and head to our first target of R66.75.
7>21>200
RSI>50
Target R66.75
ABOUT THE COMPANY
Afrimat Limited is a leading black empowered open pit mining company in South Africa.
Name:
Afrimat's name appears to be a combination of "Africa", reflecting its roots and primary operational region, and "mat", which could potentially be derived from "materials", representing the company's core business in supplying construction and industrial materials.
Founding:
Afrimat was founded in the early 1960s as the Lancaster Group, and was rebranded as Afrimat Limited in 2006.
Listing:
The company is listed on the Johannesburg Stock Exchange (JSE), and its listing took place in 2006.
Headquarters:
Afrimat's headquarters are situated in Durbanville, Cape Town, South Africa.
Operations:
Afrimat operates nationally in South Africa, and internationally in Namibia.
It provides a range of materials, including aggregates, industrial minerals, and commodities.
Aggregates:
The company started as a producer of building aggregates, but it has since diversified into a wide range of mining and related sectors.
Industrial Minerals:
Afrimat expanded into industrial minerals and now produces dolomite, limestone, silica, and others.
Leadership:
Andries van Heerden is the Chief Executive Officer (CEO) of Afrimat.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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