Unfortunately, the price did break below the H&S and Thungela showed a ton of supply and selling coming in. This means, the target is still set to R91.93. The support at R121.50 was the last hope for the share to hold and bounce. But now it's clear that this resource miner is in trouble. Now let's cover the fundamentals. Coal Prices Affecting Profit: ...
Large H&S formed since since May 2022. The price broke below the neckline and since then it's been on a one way trajectory. That was until it reached R123.96 in May 2023... THe price since then has consolidated in a sideways manner and has formed yet another Head and Shoulders. With the price breaking below its neckline, we are seeing further signs of downside...
Large H&S since May 2022 formed with the coal mining company. It broke down in January and since then has been sliding on a gradual downtrend. Other indicators confirmed downside to come including: 200 >21> 7 - Bearish (Red) RSI <50 Red The target still remains to be R88.70 and it looks like coal is still in very murky water.
JSE:TGA back at the recent low level, not the absolute low. A break below the absolute low will send the stock towards R120/share, with a possibility of reaching R100/share. Time will tell.
JSE:TGA has been on a downtrend and breaking below potential support levels. The stock fell ex divi, and it's now hovering near an area of value. Without support at this level, the downward movement will continue. R120?
Large H&S cine May 2022 This is one of those medium investment trades, that you need to hold for a LONG period of time. Luckily with CFDs, when you short stocks you gain interest, so it doesn't matter how long you hold. The longer the better. Any way, the price broke below 200 >21> 7 - Bearish (Red) RSI <50 Red Target remains at R88.70
This chart shows (my) JSE:TGA levels of interest, the price won't necessarily follow any of these anticipated moves. The stock has to remain above R154 otherwise R120 becomes a possibility. It's a question of where are there any buyers that are willing to buy the shares at these levels and push the price up. Currently, the stock is trading below declining MAs,...
Large H&S sine May 2022 It broke down and has been on a trajectory path downside. Indicators are still bearish 200 >21> 7 - Bearish (Red) RSI <50 Red Target R88.70 SMC: We know the overall trend is down. There has been a BOS (Break of Structure) twice. And now with the big candle there is a testing zone to see if there is buying or demand. Once we get a break...
As expected, JSE:TGA came with great results. >100% revenue and profit increases, and a fat dividend of R40/share. Great. The share price is testing the previously anticipated low of near R177/share; the share price has been moving downwards since the last dividend declaration. Hopefully buyers will step in at current levels, especially dividend hunters. It...
Large H&S since May 2022 formed which gave a Medium term trade. Since it broke down, I know it would take a longer period for the price to drop due to the size of the formation. Remember, companies will try everything in their power to keep the price up and without a strong negative catalyst, the formation will either play out or forma another pattern in the...
JSE:TGA is now trading below R200/share. Technically, R175 is a possibility. No position.
Hopefully JSE:TGA it does't close below this level otherwise R175 becomes a possibility.
Thungela has formed a Large H&S cine May 2022 The price has broken below the neckline and seems to be dropping further. 200 >21> 7 - Bearish (Red) RSI <50 Red and has formed a Bearish divergence. However, the price is coming down with the RSI which confirms a bear market. Target R88.70 General info. Thungela Resources Ltd (formed in 2020 in JHB as a spin off...
Lower lows, consolidation near a support level. If this level breaks, JSE:TGA might touch R211/share.
JSE:TGA Lower highs. Retesting the support level in a relatively short period. Not looking good.
JSE:TGA is back at the recent dividend announcement level. The stock is still trading above the 200MA & it's at an area of value. Will there be buyers at this level, and the impact of NYMEX:MFF1! prices?
JSE:TGA is approaching an area of value. The 200 MA is near R240/share, in case there's no support at this potential support level.
Following the breakout & retest of the trend line, JSE:TGA has broke above the resistance level and printed a new all time high. I have a position.