$JSETBS Tigerbrands. Head and shouldersNeckline break at 18200 could lead to downward target of 16100. Wait for the neckline break.
TBS trade ideas
Top5 oversold/overbought according to RSI & Tiger BrandsFTSE/JSE All Share Top5 oversold/overbought according to 14day RSI indicator as follow:
Oversold:
Invicta 12
City Lodge 14
Eoh 15
Cashbuild 18
Tiger Brands 20
Overbought:
DRDGold 77
Harmony Gold 72
Goldfields 71
Royal Bafokeng Platinum 70
AngloGold 70
Spending some time on Tiger Brands. After a horrible trading statement last week, Tiger Brands not only dropped down to a new 52-week low, but also dropped down to levels last seen in March 2011.
Trading Statement:
Shareholders are accordingly advised that:
- Earnings per share (EPS) from total operations is expected to be at least 36% (or 311 cents) lower than the 864 cents reported for the same period last year.
- Headline earnings per share (HEPS) from total operations is expected to be between 533 cents and 478 cents, which is between 30% and 37% lower than the 762 cents reported for the corresponding period last year.
- EPS from continuing operations (including VAMP) is expected to be at least 35% (or 306 cents) lower than the 875 cents reported for the corresponding period last year.
- HEPS from continuing operations (including VAMP) is expected to be between 552 cents and 497 cents, which is between 29% and 36% lower than the 773 cents reported for the corresponding period last year.
This saw Tiger Brand’s (TBS) share price break a very strong 1-year support-line. Although TBS now finds itself in EXTREME OVERSOLD according to it’s 14-day RSI, traders should caution against trying to catch falling knives going long at this stage. I would definitely wait for the actual results, expected only on 25 May 2020, before doing anything at this stage.
For the brave I would recommend waiting for a confirmation and break above the 21-day moving average (at R187) before going long. This should place TBS back within the support-line, which could see this as a possible false break.
JSE:TBS Tiger Brands BreakoutI have been following the distribution of Tiger Brands. As indicated in December (see posts below) a consolidation at the breakout level was expected. After a significant bar with some volume the markdown is set to take the next step down.
Tiger Brands JSE:TBS Keeping an eye out on TBS to see whether it can hold support. A deterioration of the current level of support in the short term could see us hitting the first and second downside targets. Poor macro environment for TBS, with a management team that consistently underperform.
JSE:TBS Tiger Brands Next Step DownTiger Brands have is in the process of being marked down (See posts below) in a series of redistribution stepping stone. The latest redistribution trading range (TR) has seen a change of character in Phase D and I am now expecting the TR to be broken. Some consolidation at the breakout level can be expected but after that the next step down is expected.
JSE:TBS Tiger Brands Markdown Set to StartTiger Brands has traded in a redistribution trading range (TR) and after breaking the TR it has attempted to break back into the TR but was unable to so. We have now seen signs of weakness (sow) which followed no demand on the increase. The previous attempt to rise with volume (effort) showed little response indicating that sellers are in control. After some consolidation at the smaller TR breakout level, we can see the markdown begin.
The Tiger cannot change its stripesAfter a few years which Tiger Brands would surely like to forget, it seems like the both the company results and share price, have found quite a strong support. Fundamentally the company is sound, with both PE’s and Price/Books trading at 5-year lows. After recent results, it seems like the growth (ROE) in the company has also made a turn for the better (above 8% again). Debt levels are also still extremely low. The lingering listeriosis Class Action lawsuit could be a risk, but Tiger Brands informed shareholders that it intends to defend the Class Action.
Technically the company look very interesting. Price is trading above the flattening 50-day moving average, with main resistance level currently laying at top of the diagonal resistance line (at R217). A break and close above R217, brings September 2019 levels of R227.50 into play, with the 200-day moving average at R242.20 being next resistance level. These levels coincide very nicely with our target price (fundamentally) of R250 on the company. Download and read our full report (for free) here: oldoak.co.za
Tiger Brands LTD - Long Term SetupPrice is below the yearly Pivot Point and the yearly VWAP "gap" (volume weighted average price), its the thickest blue line, the other blue lines are lower time frames which also play a role in their own.
I prefer this type of setup to trade, being below average price and after hitting a bigger support which held (green dotted line) we look for signs of reversal, we need to test an area a bit lower where we can then apply our risk managed trade at R204. It can by all means continue further down, but we have a higher probability here of a reversal. Some might see this as an "Inv HNS", I don't look at patterns. Good luck.
I don't like this percent gain vs time on this stock, but see how it goes.
TBS Short continuationTBS
Lower Highs and lower low's after broken support level
and market volatility giving bears more leverage
expect further downward movement
JSE:TBS Tiger Brands Markdown after RedistributionAfter redistribution and a backup (BU) to the trading range (TR). We have seen some supply volume and a strong move down indicating the markdown is gaining momentum.
TBS - Short Term Trade IdeaBuy/Long TBS at current levels 21207c or better
Stop-loss: 20920c
Take Profit Target: 21850c
TBS - Trade IdeaTiger Brands: For just over six weeks, TBS has traded in a downward channel however the RSI technical indicator has started to flash by breaking through it's declining overhead resistance. I regard this an as "early signal" for potential price strength. The price currently around 20771, is extended quite a way below it's 200-day moving average and could revert to the mean, offering a few points on the upside.
Trading Plan:
Buy TBS at 20850 or better
Use a stop-loss of 20450c to protect capital
Take profit if we see the share trade near 21700c
TBS reversalJSE:TBS has broken through a descending resistance. I will enter long if it breaks through the fractal.
Tiger Brands Bullish IdeaThe share price of Tiger Brands has just broken out of a descending channel, awaiting a possible retest.
If the breakout is confirmed, the price could be heading for the resistance above, which is the target.
Good luck!
JSE:TBS Tiger Brands Backup CompleteIt has taken some time to finish but the backup is now complete and the markdown can begin as previously expected (see post below).
JSE:TBS Tiger Brands Markdown BeginningTiger Brands has broken a historically important level of R240. It has now back up and tested the level. High volume at the level and negative divergence on with the volume RSI points to a continuation of the markdown.
Bearish price action in TigerbrandsThe Bearish price action in Tigerbrands is set to persist...following the failure to break above the R 240.00 resistance level.
Stochastic and DMI confirmation supports a move towards the R 200.00 support levels ... keep a close eye.
TBS POSSIBLE LONGJSE:TBS broke through a descending resistance line on the 30th of May and has gone sideways for the last week. it looks as if it will be proceeding upwards, but I will wait to enter when it breaks through the last fractal.
BEARISH RETEST Until i see some more interest in the market for Tiger Brands i would consider Shorting this on the retest
Long term play as the chart is a Monthly TF
Bearish Engulfing @ ResistanceJSE:TBS has formed a Bearish Engulfing pattern at a very strong resistance level, this could possibly mean a downward move.
TBS ShortJSE:TBS has broken out through a support level, so we anticipate a downward move toward the previous low.
$JSE-TBSJSE:TBS
Testing 24000 once again. If it breaks lower (and looks like it will) next support around 20000.
