Hulamin just got a sell signal to R2.25!
M Formation has formed on Daily.
Things have been looking very bad for Hulmain for the last year now.
200 >21> 7 - Bearish
RSI <50 and bearish divergence
Target R2.25
General info:
Hulamin (est. 1935) is a South African aluminium rolled products manufacturer and distributor, listed on the Johannesburg Stock Exchange (JSE).
They produce a wide range of aluminium products, including plate, sheet, and foil products.
The company has a strong focus on innovation and has developed a number of unique and patented aluminium products.
There seems to be trouble in the Aluminium space. Either there is an overcapacity, lower demand, better alternatives and higher competition or there is a shift taking place where consumers are turning more and more to renewable sources. This is going to hamper the prices further with these companies.
Things have been looking very bad for Hulmain for the last year now.
200 >21> 7 - Bearish
RSI <50 and bearish divergence
Target R2.25
General info:
Hulamin (est. 1935) is a South African aluminium rolled products manufacturer and distributor, listed on the Johannesburg Stock Exchange (JSE).
They produce a wide range of aluminium products, including plate, sheet, and foil products.
The company has a strong focus on innovation and has developed a number of unique and patented aluminium products.
There seems to be trouble in the Aluminium space. Either there is an overcapacity, lower demand, better alternatives and higher competition or there is a shift taking place where consumers are turning more and more to renewable sources. This is going to hamper the prices further with these companies.
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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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