UPDATE: Thungela continues it's land slide since the H&S break
Unfortunately, the price did break below the H&S and Thungela showed a ton of supply and selling coming in.
This means, the target is still set to R91.93. The support at R121.50 was the last hope for the share to hold and bounce.
But now it's clear that this resource miner is in trouble.
Now let's cover the fundamentals.
Coal Prices Affecting Profit:
Thungela's profit dropped significantly due to weak coal prices. In a recent half-year report, their profit fell by 69%.
Earnings Forecast to Decline:
Analysts predict Thungela's earnings will decrease by an average of 64.3% per year over the next three years.
Dividend Instability:
The company's track record with dividends isn't very stable, which can unsettle investors.
Stock Performance:
Over the past year, Thungela's stock price decreased by 44.73%. In the last three months, it dropped by 27.43%, and in the last month, it fell by 15.66%.
Price Volatility:
Thungela's stock has shown high volatility, with an average weekly movement of 5.5%, which is higher than the industry average.
This means, the target is still set to R91.93. The support at R121.50 was the last hope for the share to hold and bounce.
But now it's clear that this resource miner is in trouble.
Now let's cover the fundamentals.
Coal Prices Affecting Profit:
Thungela's profit dropped significantly due to weak coal prices. In a recent half-year report, their profit fell by 69%.
Earnings Forecast to Decline:
Analysts predict Thungela's earnings will decrease by an average of 64.3% per year over the next three years.
Dividend Instability:
The company's track record with dividends isn't very stable, which can unsettle investors.
Stock Performance:
Over the past year, Thungela's stock price decreased by 44.73%. In the last three months, it dropped by 27.43%, and in the last month, it fell by 15.66%.
Price Volatility:
Thungela's stock has shown high volatility, with an average weekly movement of 5.5%, which is higher than the industry average.
✅ 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)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.