FXAutomate

Crouching Tiger Hidden Dragon (Be careful!)

JSE:TBS   TIGER BRANDS LTD
Technically speaking this JSE stock is in a particularly tricky situation, on the one hand, it seems to have broken out of and gained some bullish momentum from its bearish trend. But on the other hand, it is facing major resistance and indecision. In the medium term, it would appear that there might be some upside to between 232 (Yearly R1 Pivot) and 250 (Accumulation Zone and weekly 200 SMA), but this could be preceded by a test of the Yearly Pivot and diagonal support @ 185 and the breakout would only be valid if we can get a decisive breakout from the current trading range meaning a weekly close above 215. On the other side, a weekly close below the Yearly Pivot could see the bearish trend continue and price back at the lows near 150 before the end of the year.

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