Merafe upside from the newest C&H
Cup and Handle formed with Merafe with the previous Breakaway gap that took place.
The price has broken above the Brim level and is flirting with the 200MA.
Also the price needs to move up to fill the gap.
These are all bullish signals including:
7>21
Price<200
RSI>50
Target 1 will be to R1.47
ABOUT THE COMPANY
Merafe Resources is a South African mining company that operates in the ferroalloys sector, predominantly in the production of chrome.
Partnership with Glencore:
Merafe Resources is best known for its partnership with Glencore. Through its subsidiary, Merafe Ferrochrome and Mining (Pty) Ltd., Merafe participates in the earnings of the Glencore-Merafe Chrome Venture.
Primary commodity:
Merafe's main commodity is ferrochrome, which is a key ingredient in the production of stainless steel.
Formation:
Merafe was incorporated in 1987 and has been listed on the Johannesburg Stock Exchange (JSE) since 1988.
Headquarters:
The company is headquartered in Bryanston, Johannesburg, South Africa.
Extensive operations:
The Glencore-Merafe Chrome Venture operates five ferrochrome smelters, 22 ferrochrome furnaces, and nine mines, making it one of the largest ferrochrome producers in the world.
Sustainable mining:
Merafe has an Environmental Management Program (EMP) in place, complying with the National Environmental Management Act.
Women in leadership:
Merafe has made strides in promoting women in leadership positions. The company's CEO, Zanele Matlala, is one of the few female CEOs in the South African mining industry.
The price has broken above the Brim level and is flirting with the 200MA.
Also the price needs to move up to fill the gap.
These are all bullish signals including:
7>21
Price<200
RSI>50
Target 1 will be to R1.47
ABOUT THE COMPANY
Merafe Resources is a South African mining company that operates in the ferroalloys sector, predominantly in the production of chrome.
Partnership with Glencore:
Merafe Resources is best known for its partnership with Glencore. Through its subsidiary, Merafe Ferrochrome and Mining (Pty) Ltd., Merafe participates in the earnings of the Glencore-Merafe Chrome Venture.
Primary commodity:
Merafe's main commodity is ferrochrome, which is a key ingredient in the production of stainless steel.
Formation:
Merafe was incorporated in 1987 and has been listed on the Johannesburg Stock Exchange (JSE) since 1988.
Headquarters:
The company is headquartered in Bryanston, Johannesburg, South Africa.
Extensive operations:
The Glencore-Merafe Chrome Venture operates five ferrochrome smelters, 22 ferrochrome furnaces, and nine mines, making it one of the largest ferrochrome producers in the world.
Sustainable mining:
Merafe has an Environmental Management Program (EMP) in place, complying with the National Environmental Management Act.
Women in leadership:
Merafe has made strides in promoting women in leadership positions. The company's CEO, Zanele Matlala, is one of the few female CEOs in the South African mining industry.
✅ 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)
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