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Merafe really took a HUGE dunk! And more to come to 93 centsMErafe dropped 18% yesterday. Big unexpected move due to an array of events~ First we had Trump pulling funds from SA. Second with the major expropriation bill that is leading to Foreign direct investments to leave SA. Merafe Resources has announced that it may start suspending some of its ferrochrome furnaces in May 2025, leading to a substantial decrease in ferrochrome production in South Africa. This decision follows a business review launched by Merafe, in collaboration with Glencore Operations South Africa through their chrome Pooling and Sharing Venture, as they evaluate possible strategies to tackle ongoing market challenges. Either way, this is a BIG black swan for Merafe and it seems like there is more downside to come with the technicals. M Formation Price<20 and <200MA Target R0.93 RISKY BUSINESS!
JSE:MRFShort
by Timonrosso
Aspen showing upside to R204 despite Trump pulling funds from SAOk this isn't the best formation. We have the price above 20MA but still below 200MA. On the other hand, we have a solid bottom formed and a W Formation along with a Box Formation with it. So with the pull back and the retest, we could get a bounce up which will send the price to potentially R204.60 Even though Trump has pulled funding from South AFrica due to the Expropriation Bill being announced, this will pull funds from Healthcare, to developments and more... But it seems like the Fair value of Aspen is underpriced and the market is likely to turn up from here. SO I am bullish for now.
JSE:APNLong
by Timonrosso
UPDATE Murray and Roberts - Th big restest in play before upsideSince the last update, M&R was heading up on a smooth trajectory. The bears probably thought it was going up too quickly and too soon. So there is a temporary pause in the uptrend with the inv cup and handle. We are likely to get an uptrend test to see if there are any sellers around that area. If ther price bounces from there or anywhere around the higher low, we could see it continue with the current target at R4.75
JSE:MURLong
by Timonrosso
UPDATE ACL Profit target reached at R2.22Since the price broke abbove the W Formation and the Price went above above 20 and 200 THe momentum and buying just took off at an alarming rate. So within ONE week, the price shot up to R2.21 which was even a surprise to me with the speed of the analysis. So what now? Now, it's in a dangerous area. The trend is so steep it can come down just as fast. If the buyers have conviction they will drive the price sideways first before the next buy up. But we'l have to give it some time before we decide.
JSE:ACLLong
by Timonrosso