TONGAAT HULETT - Ascending Triangle
Techinal analysis:
- We have reached close to the end of the Ascending triangle continuation pattern.
- Support 583
- I Identified an upward trend the last 54 bars, with 4 higher lows (Marked with stars) which may indicate that there is good market sentiment.
- 10 EMA and 50 EMA closing in on each other, waiting for confirmation of breakout.
Fundamentals:
- Cautionary announcement was withdrawn
- Debt reduced by 42% (March 2021)
- Interim results are expected in December 2021
- We have reached close to the end of the Ascending triangle continuation pattern.
- Support 583
- I Identified an upward trend the last 54 bars, with 4 higher lows (Marked with stars) which may indicate that there is good market sentiment.
- 10 EMA and 50 EMA closing in on each other, waiting for confirmation of breakout.
Fundamentals:
- Cautionary announcement was withdrawn
- Debt reduced by 42% (March 2021)
- Interim results are expected in December 2021
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