$JSEEXX - Exxaro: Death Cross Triggers Bearish Outlook
The original analysis of Exxaro was on 23.03.2023 and I was already bearish, link below.
Exxaro is notorious for wild swings so this could be a big bear especially with coal prices under severe pressure.
I have overlaid the coal futures prices on the chart in gold
Bearish triggers:
1-Support trendline decisively broken.
2-Death Cross, 50EMA crossed below 200EMA on daily chart and momentum is accelerating.
3-MACD below zero-line.
The wild nature of swings in Exxaro's share price historically could see the price back to the post-pandemic lows in the 7000 region.
Exxaro is notorious for wild swings so this could be a big bear especially with coal prices under severe pressure.
I have overlaid the coal futures prices on the chart in gold
Bearish triggers:
1-Support trendline decisively broken.
2-Death Cross, 50EMA crossed below 200EMA on daily chart and momentum is accelerating.
3-MACD below zero-line.
The wild nature of swings in Exxaro's share price historically could see the price back to the post-pandemic lows in the 7000 region.
