See link below for previous analysis.
I have updated my preferred wave count and it has significant implications.
The new count shows the decline from 33519 to 11079 as a complete zig zag pattern.
Wave (A) is a impulse with distinguishable five waves.
Wave (C) is also an impulse though more simple in structure.
I am looking at the advance from 11079 to 22166...
Astral Foods (ARL) stands as a prominent poultry producer in South Africa, with a comprehensive range of operations within the poultry industry. Their activities include integrated broiler operations, where they possess the capacity to process approximately 4.4 million broilers each week. Additionally, they operate Ross Poultry Breeders, which supplies breeding...
Astral Foods (ARL) is a leading poultry producer in South Africa. The company's activities include integrated broiler operations, where they have a processing capacity of 4,4 million broilers per week; Ross Poultry Breeders, which supplies breeding stock to the South African broiler industry; National Chicks, which is a day-old chick and hatching egg supplier; and...
Astral Foods (ARL) is a leading poultry producer in South Africa. The company's activities include integrated broiler operations, where they have a processing capacity of 4,4 million broilers per week; Ross Poultry Breeders, which supplies breeding stock to the South African broiler industry; National Chicks, which is a day-old chick and hatching egg supplier; and...
We can see the share price has been hovering around the 200-day moving average, using it as a dynamic support/resistance level. MACD is added as confluence to confirm the momentum to the downside.
Speculative Sell/Short
Stop loss: R 168.11
Target: R153.07
R/R: 1:1.5
This is merely an idea and not advice.
All my indicators have crossed to the top. It has formed a cup and handle off sorts. Will only buy on break above the formation, and cross over off the long term down trend.
The last update on Astral was on 27.04.2023 and that short-term view has been quickly invalidated.
The longer-term view shared 22.02.2023 is now fully underway, link below.
Astral released interim results for the six months ended 31 March 2023 on 22.05.2023 with the following salient results:
Revenue up 6%
Operating profit down 89%
Earnings per share down...
I still maintain my long-term bearish view on Astral as per my previous analysis, link below.
Stock do not go down in a straight line and even with weak fundamentals and a strong bear trend, there will be bounces/corrections to the upside.
Astral stock has found trendline support at 14896 and has broken above the short-term resistance trendline.
As the stock...
On 21 November 2022, with the release and publishing of Astral’s year end results for the year ended 30 September 2022, the Group strongly cautioned the market that Astral was expecting market conditions to deteriorate, with record high feed input costs, devastating levels of load shedding and the general decay of municipal infrastructure continuing to impact...
Astral expects a 90% drop in earnings as their input and feeding costs exceeds the sale price of chicken...Well the chart says it all. It doesn't look pretty. It's trading well below both the 50 and 200 day moving averages and I can't see it getting any better. I can see this stock going down back to 135.00/140.00 where there is significant support. I might even...
JSE:ARL printed a 52 week high but the stock is at or coming to an area of value. I have a long position and waiting to see what happens at this level. I would like to see the stock move above R220/share, where I'll add onto the current position.
It was announced yesterday that government will be dropping import tariffs on poultry for a period of 12 months to help fight the rising cost of chicken. Let's not forget, that the tariffs were put in place to protect local producers against cheaper imports. The latest development leaves them with very little to no place to hide. I suspect our local producers like...
JSE:ARL has reached a 52 week high, with a decent amount of volume. Markets are up down but this is a bullish setup. Every setup must be accompanied by a stop loss.
-After a decent rally hitting a high of R193, price has cooled off and reached the 50 day moving average
- This is also the previous breakout zone / gap
- Looking for support in this area to look for a long trade
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
The market liked the trading update last week, EPS expected to be up 100%. The R189 resistance held a bit of a fight. I suspect from state bulls. Close Friday with a bullish engulfing candle that engulfs the entire week. I have a short term target at R220
(Also see, TBS & AVI)...With SA retail once again brought to it's knees, we do have some (unfortunate) opportunities, especially with our food producers. With supply chains disrupted and store shelves empty, we can only expect the "re-stocking" to benefit our brand owners and food producers. This is a buying opportunity for unusually high demand when the looting...
