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THUNGELA RESOURCES LTDTHUNGELA RESOURCES LTDTHUNGELA RESOURCES LTD

THUNGELA RESOURCES LTD

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TGA trade ideas

TGA: mean reversion tradeA price action above 27600 supports a bullish trend direction. Crossing below this level will negate the bullish stance. Further bullish trend confirmation above 28800. Consolidation price range from 28400 to 30100. Crossing above the 30100 resistance might support the price action to reach 32600. Crossing below the 28400 support might be the first sign of pending weakness. Linear regression channel pattern support a bullish trend direction. See the upward tilt.
JSE:TGALong
by Peet_Serfontein
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.
JSE:TGA
by techpers
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.
JSE:TGAShort
by Trader-Dan