CHALLENGE TRADE UPDATE: Tigerbrands (TBS) TAKE PROFIT REACHED After a long hold of almost 2 months, Tigerbrands reached our take profit price at R219.05. I was a bit hesitant considering the global chaos and downside that has come down on the markets. But I guess because Tigerbrands is less connected offshore, is the one of the reasons why it's wings were not...
Large Tripple Bottom There are also two Cup and Handles formed in the recent past. Now that price has broken above both Brim levels it's looking bullish. RSI> 50 and above the downtrend line. Target R219.05 CONCERNS Liquidity is low and it causes spikes in prices. Such a large formation, can sizzle out the price move and it can continue sideways for the next...
Wondering if we could see a bit of a recovery on Tiger Brands in the long term. Looks like a double bottom with the neckline forming around the 40 DMA. Wondering if we could see a bit of a recovery on Tiger Brands in the long term. Looks like a double bottom with the neckline forming around the
We have been following the stepping stone markdown of Tiger Brands (see posts below). After a selling climax (SC) and automatic rally (AR) back to the previous redistribution range, we can now again expect a trading range. Price is set to build a new cause bound by the SC and AR extremes. Will watch this range to determine if it is further redistribution or accumulation.
I have been following the distribution of Tiger Brands. As indicated in December (see posts below) a consolidation at the breakout level was expected. After a significant bar with some volume the markdown is set to take the next step down.
Tiger Brands have is in the process of being marked down (See posts below) in a series of redistribution stepping stone. The latest redistribution trading range (TR) has seen a change of character in Phase D and I am now expecting the TR to be broken. Some consolidation at the breakout level can be expected but after that the next step down is expected.
JSE:TBS has broken out through a support level, so we anticipate a downward move toward the previous low.
Tiger brands has once again tested the critical R240 support and held so far today. If it can get some legs we could perhaps see a move back to R290.00. Ex dividend today and unbundling of OCE which will explain most the weakness seen today
JSE:TBS has been trading in a sideways channel since early November last year. It is currently at the bottom of the channel and seems to be bouncing off. We are aiming for the resistance level at the top of the channel.
We have a head and shoulders pattern forming over here, the shoulder is also giving us a bullish flag so we must watchout for the breakout off the flag for perfect and safer entry towards the previous gap at the 32672 area or above.