Cup and Handle has formed on Merafe and once again it looks like it's going to head to the top of the channel yet again. Also results have come out beating expectations by over 30%. We have other indicators showing upward momentum including: 7>21 Price<200 RSI>50 Target R1.47
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...
First, Merafe hit our target at R1.00. This was due to a Box Formation which the price broke below. Also above the Box Range was Buy Side LIquidity, where Smart Monet came up and swept and sold into the levels. This brought the price down and then some. Inv Cup and Handle formed on Merafe. And the price has broken below the brim level. Also the price is...
M Formation formed on Daily, which the price broke below. 21>7- Bearish Price <200 - Bearish RSI <50 lower highs Target R1.08 SMC Buy Side Liquidity Order Block formed which was at the top of the M Formation. This is where Smart Money comes in and sweeps buying liquidity from buyers going long and shorters getting stopped.
New Cup and handle has formed on Merafe as well as a strong uptrend channel. Target 1 at R145. Target 2 R1.66 Price is about to cross above the 200MA as it is preparing for upside. Bullish bias but will need the price to break above the 200MA before any action to be taken.
New Cup and handle has formed on Merafe following the Old one in 2022 Target 1 at R145 and now a new target of R1.66 Price >200MA first time since Sep 2022 Some info on Merafe Merafe Resources is a South African company that is primarily engaged in the mining and production of ferrochrome, which is an alloy of chrome and iron used in the production of stainless...
Cup and handle formed on Merafe. This is a short /medium term trade. We can see the gap down is likely and ready to close. The first price target will be at 200MA to R1.45 We also have the resource sector dominating the JSE All Share Index. AGL, ANG, HAR, EXX, KIO all looking bullish, which will help push up the Ferrochrome price along with the metals.
Merafe seems at will still continue to move a bit more higher