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Tigerbrands exausted - Foot off the neck - Coming down to R153After an insane run up and beautiful trade, Tigerbrands has now reached it's peak and has formed an M Formation. We thought the price was going to close below and open below th neckline. Instead there was a largeish exaustion gap. An Exaustion Gap is a gap in the price where no activity took place due to the fact that the current trend (upside) is exausted and now the supply and selling is taking over. So the first target will be down to R153.09
JSE:TBSShort
by Timonrosso
Tigerbrands just pounced and set its target to R214.46Rev Cup and Handle has indeed formed on Tigerbrands. And it looks like the buying and demand is on point. However, this is a very aggressive buy point which does not work with my trading demeanour. It looks like this share price rally was fundamentally driven with the CEO stepping down. Tjaart Kruger will replace Noel Doyle as the CEO starting 1 November, Tiger Brands said in a filing on Friday. 7>21 Price<200 RSI>50 Target R214.46 It's looking good for the company and the price as there was strong support around R138.00. We will just have to wait and watch for how it plays out.
JSE:TBSLong
by Timonrosso
1
Tigerbrands is coming down after M Pattern and Downtrend breakM Formation has formed on TBS. This is from the prior downtrend showing difficulties for the company. Now that the price has broken below, there is a higher chance of the market to drop. 200>21>7 Bearish RSI<50 - Downtrend momentum. Target R130.00 CONCERNS: If the JSE ALSI 40 rallies to new highs and breaks out of the Broadening formation, it might slow down the downside for the company. However, with the negative fundamentals kicking in with the bad results as well as the resignation from the CFO. The fundamentals might override the upside for the JSE.
JSE:TBSShort
by Timonrosso
UPDATE: Tigerbrands downside is crashing faster than expectedInverse Cup and Handle formed on Tigerbrands. We were waiting for a break down out of the brim level, but alas we never got the entry level. Instead it gapped down and is already on its away to the target. It was a missed opportunity but we couldn't do anything about it. 200>21>7 RSI<50 Target R134.44 SMC: Buy Side Liquidity Order block formed above the Handle of the C&H. This is where Smart Money came in and swept the buying from retail traders. They SOLD into the buying orders from long traders and stops from short traders. Now the momentum, trend and target is heading down! ABOUT Tigerbrands Establishment: Tiger Brands Limited is one of South Africa's largest and most popular fast-moving consumer goods companies. It was established in 1921 under the name Tiger Oats. Brands: The company owns a plethora of high-profile brands such as Jungle Oats, Tastic Rice, Albany Bread, Oros, KOO, and All Gold. International Presence: Despite its strong South African roots, Tiger Brands has a significant international presence, with export products going to more than 50 countries worldwide. Acquisitions: Over the years, Tiger Brands has made several acquisitions to expand its footprint. This includes the purchase of Dangote Flour Mills in Nigeria, though the venture proved unprofitable and the division was later sold.
JSE:TBSShort
by Timonrosso
Tigerbrands hit our Take profit price at R219.05CHALLENGE TRADE UPDATE: Tigerbrands (TBS) TAKE PROFIT REACHED After a long hold of almost 2 months, Tigerbrands reached our take profit price at R219.05. I was a bit hesitant considering the global chaos and downside that has come down on the markets. But I guess because Tigerbrands is less connected offshore, is the one of the reasons why it's wings were not clipped for movement. The bias is still long and I expect upside to come, but we need to wait for the next Breakout pattern, Follow for more daily trades and analyses :) Trade well, live free Timon MATI Trader Extra news about Tigerbrands if you didn't know: Tiger Brands is a South African multinational food and beverages company that was founded in 1957. The company is headquartered in Johannesburg, South Africa, and is listed on the Johannesburg Stock Exchange. Tiger Brands is one of the largest food companies in Africa, with a diverse range of products that includes grains, confectionery, processed meats, baby food, and beverages. Some of the well-known brands owned by Tiger Brands include All Gold (Doesn't get better than these jams), Tastic, Jungle Oats (Cinnamon is amazing), Bakers, and Albany (Best bread I've ever had in my life). Tiger Brands has operations in over 20 countries in Africa, as well as in Asia, Europe, and the Middle East.
JSE:TBSLong
by Timonrosso
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.
JSE:TBSShort
by SteynTrade