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MRF
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MERAFE RESOURCES LTD

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MRF trade ideas

Merafe showing strong downside due to M Formation and SMC 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.

Short

by Timonrosso

Merafe showing downside to test R1.00 again read fundamentals M Formation formed on the daily and we are just waiting for the price to break below the neckline. 21>7- Bearish Price <200 - Bearish RSI <50 lower highs Target R1.08 CONCERNS: Many resource companies are showing downside to come. It seems like smart money knows something the public doesn't. This corresponds to the strengthening dollar. Ever since the US dollar started strengthening in February 2023, Resources markets have been showing volatility with no conviction of upside. Economically speaking for Merafe, the price of ferrochrome (Which is used in the production of stainless steel) is denominated in US dollars, which means that changes in the value of the dollar can impact the price of ferrochrome. This is because a stronger dollar makes it more expensive for buyers in other countries to purchase ferrochrome, as they need to exchange their own currency for US dollars in order to make the purchase. This can lead to a decrease in demand for ferrochrome, which can put downward pressure on the price. Additionally, a stronger dollar can make it less profitable for ferrochrome producers in countries with weaker currencies to sell their products on the global market. This can lead to a drop in supply of ferrochrome, which can also put downward pressure on the price.

Short

by Timonrosso

Merafe - Brewing for a move..Merafe has slowly been creeping up higher of late - has held TL support (blue) and broken clear of horizontal resistance. Strong move higher possible. Stop loss below 1.33 and re-look to buy back around 1.25

Long

by Trad3r_16

Merafe Analysis on track to R1.66 and about the company The Cup and handle formed, broke above the Brim Level and now looks like it's heading on up. The price above the 200MA is the first time since Sep 2022... Target 1 at R145. Target 2 R1.66 ABOUT Merafe Resources is a mining giant company that was founded in 2005 and is based in Johannesburg, South Africa. The company's primary focus is on the production of ferrochrome, which is used in the production of stainless steel. Merafe Resources operates in partnership with mining giant Glencore, with the two companies jointly owning and operating the Glencore-Merafe Chrome Venture. The Glencore-Merafe Chrome Venture is one of the world's largest producers of ferrochrome, with operations in South Africa, Kazakhstan, and Australia. It has a market capitalization of over R2 billion as of February 2023. Ferrochrome which is used in the production of stainless steel makes products like: Stainless steel cutlery, Kitchen appliances, Construction materials, Medical instruments (Surgical tools and implants), Jewelry (e.g. watches) Aerospace components (engine parts and turbine equipment), Electronics and the list goes on...

Long

by Timonrosso

Merafe Merafe attempting to cross above its 200dma which is coinciding with the 140c horizontal resistance. Buyers need to push that level to expose 160-180 as next possible targets.

by Innocentmaponde

Merafe This is a South African listed company in the Johannesburg Stock Exchange. This looks like a long or short depending on if it break what trend.

by SbusisoSithole

Merafe ready for further upside to R1.66 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.

Long

by Timonrosso

Merafe heading to target 1 and already have Target 2 in mind 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 steel. Resources is on a nice uptrend in the start of the year including AGL, BHG, ANG, GOLD and JSE:RES. Which I am long pretty much all of them. Now since 2003, I have had a secret with Merafe. I buy at 60 cents and sell at R1.20... I've been doing it ever since and it's worked like an absolute charm. Touch wood though now that you know my secrets!

Long

by Timonrosso

JSEMRF heading to 200MA at R1.45 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.

Long

by Timonrosso

Merafe Merafe retesting previous support (now resistance). If it (resistance) holds, we may be in for further downside that may potentially breach the 100c level. Incline resistance (around 135c), followed by the 200dma (around 145ish) need to be cleared to re-establish the uptrend.

by Innocentmaponde

MERAFE resources are the talk of the town globally a move higher on resources companies like merafe might be possible soon

Long

by Sbo_Dhlamini

Merafe Merafe broke below TL support and is now facing relatively stiff resistance around R1.17 (previous support has now become resistance) However, should it manage to break above R1.17, there is a gap to filled higher up at around R1.32

by Trad3r_16

Merafe Buyers seem to be getting tired on Merafe. A bearish descending triangle chart pattern is developing whose neckline is around 140c. There also remains an unfilled gap around that140c area. If we lose 140c, 100c may be the next!

by Innocentmaponde

MERAFE Chart - Request Merafe is currently in a sideways consolidation period and the chart remains constructive as price holds the blue 50 day moving average . R1.80 then R2.00 remain initial targets while the swing low of R1.50 is intact. -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.

Long

by Trader-Dan

Merafe A close above the 50dma will be bullish. 1st target will be that dividend gap just below 190c.

Long

by Innocentmaponde

Merafe The share was ex-dividend last week, and that how we ended up with that 'dividend gap' there. Technically, these gaps usually get filled. Interestingly we also have a gap to the downside, roughly between 140c and 148c, that was never filled. As for which gap will be filled 1st, there is no way of telling. Overall, for buying purposes, I'm provisionally looking at the 150c area, that is, I would want that gap to close 1st before initiating the next 'buy'.

by Innocentmaponde

Merafe Received a query on the name, so I thought I'd also update it here: Merafe Resources MRF - Now trading 190c, this is another name which our analysis managed flag in February of last year at 61c. Strong run over 1 and 2 years. Possibly some resistance around these highs. My view is that with the strong advance, the reward to risk is less favorable than in previous months though I'd use retracements to look for an entry. Original Idea and Recent Follow Up Attached

by LD_Perspectives

Merafe Could Merafe be breaking for another leg higher? *I'm still bullish, but with results coming out next week, it makes for a difficult call! The market can react 'anyhow' to results.

by Innocentmaponde

Merafe - Long Idea Now +145% Over 12 Months Original Long Idea (2-Feb-2021) Attached, Based On Weekly Chart Analysis. Current: 163c vs 61c at the time. Comment at the time as follows: "Briefly, signal received on daily chart however zooming out, the weekly appears promising with the price looking to emerge from a 12-month base. Also noting the weekly RSI at the highest level in 2 1/2 years (60, bullish ) while the monthly RSI is starting to rise and trades at 44, suggesting room to advance over the long term." 'There are winners in the weeklies...' Lets see what's next...

by LD_Perspectives

MERAFE RESORCES Merafe seems at will still continue to move a bit more higher

Long

by Sbo_Dhlamini

Merafe Possible retest of the 100c level before the next move higher?

Long

by Innocentmaponde

Long idea on MRF Price is moving higher after bouncing off WEMA200. It would be very bullish for MRF if price closes the month above the MEMA200. Looking to initiate a buy with a close above 110level. Volumes traded are significant at this time. As always manage your risk.

Long

by AcolyteTrader

Merafe Resouces Swing Trade JSE:MRF is currently at an area of value; 200EMA level and a support level. The 200EMA is pointing up; it's reasonable to anticipate a support here. At current price, this is a potential 1:4 risk to reward swing trade.

Long

by Trend_Trader_JSE

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