TGA- I'm NOT saying it will happen but...
If this Head and shoulders pattern plays out, the theory says it goes to R95.00. While it could happen, I don't see a drop of that magnitude. But let's be honest, this share got way too high, way too quickly. So now it's time for a little bit of pain.
The scenario I predict is rather, TGA breaks the neckline of that H&S pattern but does not drop to the extent that the pattern suggests, but rather finds some support at the previous break-out level which occurred in March last year. So while I strongly feel that this stock should be down at R80.00 my short term target for this stock is closer to 175.00 for now. PLEASE NOBODY TELL ME THEY ARE SURPRISED BY THIS DROP.
The scenario I predict is rather, TGA breaks the neckline of that H&S pattern but does not drop to the extent that the pattern suggests, but rather finds some support at the previous break-out level which occurred in March last year. So while I strongly feel that this stock should be down at R80.00 my short term target for this stock is closer to 175.00 for now. PLEASE NOBODY TELL ME THEY ARE SURPRISED BY THIS DROP.
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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.