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Panafrica

UPDATE: Pan Africa hit the target at R.475 - Do we sell?Well this analysis took forever. The price broke above the Broadening Reverse Symmetrical Triangle (If there is such a thing) in June 2023. If you held on this long to exit and bank a profit, you would be lucky if you even made some money considering the daily interest charges on CFDs... However as a share and equity investor, this position would have been the perfect medium term trade. Sometimes, when I project such large targets, I think of just going back into equities. Regardless, the trend id still up - Gold is still bullish and out other Gold positions are all longs. So, keep to the trend until it bends... Uncle T out.
JSE:PANLong
by Timonrosso
1
Vuvuzela wins again but this time it's a Pan to R4.75!We sent out this update in July 2023, where a Vuvuzela (Broadening Formation) formed. INstead of waiting for a breakout, we were playing with the pattern's range instead. Since it bounced off the Support level it's been on the way to R4.75. And you can see the price almost touched it, before retracing back to the uptrend line. So have we been getting it right? SO far yes. Have we been coining it? HARD NO. Sometimes it doesn't pay to hold because of the daily interest charges that lovely CFDs bestow upon us. And this is a clear example on why it's tough to invest in the CFD market. The target remains to R4.75. And we'll take our pennies and run when it hits. Also, in the interim it seems to be forming a Diamond Formation similar to Gold stocks. So maybe a bigger breakout is imminent. I explained why we can expect gold to rally due to what's happening in the US.
JSE:PANLong
by Timonrosso
UPDATE: Pan Africa's Diamond is still shining to R4.75Pan Africa initially formed a Boradening formation since July 2023. We sent out that it was going to do nothing more than bounce in it's current support and pattern and head on up... During the uptrend, it's been evident that the support level is strong and holding. This means, it's in the process of forming a Diamond Formation. The target remains at R4.75. However if it breaks above there, we are talking another big move up to R7.20. I believe technically, it's a great stock to have invested in and to just keep holding... With the gold price also looking strong and bullish, this helps with the analysis...
JSE:PANLong
by Timonrosso
Pan Africa dropping first before the next rising level to R4.75Pan Africa is forming a rare Broadening Triangle (Vuvuzela) pattern. We can expect the price first to drop to R2.75 before it bounces off the support and heads to the next target of R4.75. We'll be keeping an eye on this one... ABOUT THE COMPANY Pan African Resources is a mid-tier Africa-focused gold producer with a production history that spans several decades. Pan African Resources Plc is a precious metals producer based in South Africa. The company was incorporated in the United Kingdom. It is dual-listed on the London Stock Exchange’s AIM market (ticker PAF) and on the Johannesburg Stock Exchange (ticker PAN). The company primarily engages in the exploration, mining, and production of gold. As of 2021, Pan African Resources operated several major gold mines in South Africa, including Barberton Mines and Evander Mines. The company also has tailings retreatment operations, notably the Barberton Tailings Retreatment Plant (BTRP) and the Evander Tailings Retreatment Plant (ETRP). HOW IT POTENTIALLY GOT ITS NAME Pan African Resources, as the name suggests, reflects the company's focus on mining and production of resources (such as gold) within the African continent. The "Pan African" part of the name (Greek for all) signifies its broad focus on Africa as a whole rather than being tied to a specific country within the continent.
JSE:PANLong
by Timonrosso
1