Thungela ResourcesJSE: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?
TGA trade ideas
TGA daily chart updateTGA is the strongest stock on the JSE by far for 2022, right now its trading around the R270 support which was resistance that became support during august 2022.
If R270,00 does not hold, next level of major support comes in at R215.00
GLN: some complex correction?It seems like a complex correction is busy unfolding.
However, this might give an opportunity for a good entry into the share.
Targets 34200 and 38200.
Stop-loss at 23800.
A price entry close to 25800 seems ideal.
Bullish divergence notable.
TGA Long Trade signaled W Trade Pattern formingTGA Long Trade
possible double bottom signaled and change to uptrend
confirming with the W trade pattern forming
with have confirmation of Trend when the neck line resistance is bridged
Thungela Resources ( $TGA )Thungela Resources ( $TGA )
This stock has been flying, so I think a cool down period can be expected.
It's fighting to stay above support (R250-R280) - really needs to hold here, because if not, there is some downside pain to be expected.
Those that missed the bus the first time, will most likely get another opportunity to buy again at lower levels.
Patience is key.
First nibble at R213, then the next big bite will come at R170-R180
TGAThungela Resources: Volatility Equals Opportunity. As mentioned on Thursday evening: "Tomorrow we may see a slight overshoot on the upside before the share retraces (short term view)." Further Update. On Friday, we saw the share trading higher (intraday high of 31604c) before retracing to close the week at 29844c (a -1760c or -5.5% intraday reversal from high to low). While the short term movements in share prices may appear random, there are money-making opportunities for those are come prepared and are willing to adapt and adjust in real-time. My belief is as follows: The best thing to do is 'have a plan' while the worst thing to do is to stick to that plan 'no matter what'. You may ask, why is sticking to your plan 'the worst thing'? The key words there are 'no matter what'. Because, no-one knows what is going to happen. When the company or macro news-flow changes, you have to change! When the price action changes, you have to change! To re-iterate, have a bullish plan, have a bearish plan, but be willing to adjust in real-time. All the best for the week ahead.
Thugela ResourcesHorizontal and incline/trendline at risk of being breached on the daily chart. Should we lose that, next support comes in the form of the 200dma, followed by the 180-185 level.
Thungela Resources approaching an area of valueJSE: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.
Thungela In Time for a ReversalPrice has been in a downtrend but now approaching conditions for confirming trend reversal to the upside. When a swing low is confirmed, I expect price to move upwards & close the gap and breach the trendline. That would be an area to take profit +20% as this will be a relief rally after which we will assess the strength of resistance to push price downwards.
THUNGELA RESOURCES - 454% YTD Thungela has clocked up an eye watering +454% year to date .
Note: Its last day to trade if you want to receive the dividend.
Thugela Resources-UpdateThis one got to 1 cent shy of my TP target of 360 before reversing lower. All the same, I called it!
Original idea below.
Thungela new ATHFollowing 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.
TGA descending Triangle breakupTGA broke up above a descending triangle pattern, this opens up targets to R318.00
Thugela ResourcesAnother breakout on Thungela? Looks like it. I'm calling it a buy for a move to 360!
Strong looking chart on Thungela ResourcesKeeping a close eye on this one.
Looks to be putting in a nice tight flag pattern
Will definitely be buying on a strong breakout with high volume
TGA Small Trading Range BrokenTGA seems to be breaking out to the downside of the small trading range it has been trading in since early May.
My short target is around 18600. This is however against the longer term trend.
THUNGELA Resources - The stock has had a heavy sell off after losing the 20 day moving average which it was holding onto since the 24th of May
- It will be a bit risky to chase the downside momentum here (unless you keep a tight stop) so I will be looking for any pullbacks to short towards a first target level of R175 . The bear case is in play while price remains under the R242 level (Daily close)
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
AG Capital -Storm trading Morning Call 10 May 2022We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
Where to for Thungela from here?important decision coming up for Thungela. My gut feeling it moves higher, but a rising bearish wedge can make the house tumble down.
JSE:TGA Possible long oppsStrong up trend in the stock with price testing the SR levels at 12000 and pulling back forming the beginning of a a bull flag setup here. Watching price action for long opps to add to my position.
Thungela ResourcesTGA printing the same kind of 'bearish engulfing' candle that it printed on October 6th 2021 before price retreated by at least 37%.
Next support comes around 100.
Thugela Resources-TP target reachedTP target of 100 reached in yesterday's session.
Also traded to a high of 100.50 in today's session.
Original ideal below
