M Formation formed on the daily and we are just waiting for the price to break below the neckline. 21>7- Bearish Price <200 - Bearish RSI <50 lower highs Target R1.08 CONCERNS: Many resource companies are showing downside to come. It seems like smart money knows something the public doesn't. This corresponds to the strengthening dollar. Ever since the US...
Merafe has slowly been creeping up higher of late - has held TL support (blue) and broken clear of horizontal resistance. Strong move higher possible. Stop loss below 1.33 and re-look to buy back around 1.25
The Cup and handle formed, broke above the Brim Level and now looks like it's heading on up. The price above the 200MA is the first time since Sep 2022... Target 1 at R145. Target 2 R1.66 ABOUT Merafe Resources is a mining giant company that was founded in 2005 and is based in Johannesburg, South Africa. The company's primary focus is on the production of...
Merafe attempting to cross above its 200dma which is coinciding with the 140c horizontal resistance. Buyers need to push that level to expose 160-180 as next possible targets.
This is a South African listed company in the Johannesburg Stock Exchange. This looks like a long or short depending on if it break what trend.
New Cup and handle has formed on Merafe as well as a strong uptrend channel. Target 1 at R145. Target 2 R1.66 Price is about to cross above the 200MA as it is preparing for upside. Bullish bias but will need the price to break above the 200MA before any action to be taken.
New Cup and handle has formed on Merafe following the Old one in 2022 Target 1 at R145 and now a new target of R1.66 Price >200MA first time since Sep 2022 Some info on Merafe Merafe Resources is a South African company that is primarily engaged in the mining and production of ferrochrome, which is an alloy of chrome and iron used in the production of stainless...
Cup and handle formed on Merafe. This is a short /medium term trade. We can see the gap down is likely and ready to close. The first price target will be at 200MA to R1.45 We also have the resource sector dominating the JSE All Share Index. AGL, ANG, HAR, EXX, KIO all looking bullish, which will help push up the Ferrochrome price along with the metals.
Merafe retesting previous support (now resistance). If it (resistance) holds, we may be in for further downside that may potentially breach the 100c level. Incline resistance (around 135c), followed by the 200dma (around 145ish) need to be cleared to re-establish the uptrend.
resources are the talk of the town globally a move higher on resources companies like merafe might be possible soon
Buyers seem to be getting tired on Merafe. A bearish descending triangle chart pattern is developing whose neckline is around 140c. There also remains an unfilled gap around that140c area. If we lose 140c, 100c may be the next!
Merafe is currently in a sideways consolidation period and the chart remains constructive as price holds the blue 50 day moving average . R1.80 then R2.00 remain initial targets while the swing low of R1.50 is intact. -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
A close above the 50dma will be bullish. 1st target will be that dividend gap just below 190c.
The share was ex-dividend last week, and that how we ended up with that 'dividend gap' there. Technically, these gaps usually get filled. Interestingly we also have a gap to the downside, roughly between 140c and 148c, that was never filled. As for which gap will be filled 1st, there is no way of telling. Overall, for buying purposes, I'm provisionally looking...
Received a query on the name, so I thought I'd also update it here: Merafe Resources MRF - Now trading 190c, this is another name which our analysis managed flag in February of last year at 61c. Strong run over 1 and 2 years. Possibly some resistance around these highs. My view is that with the strong advance, the reward to risk is less favorable than in...
Could Merafe be breaking for another leg higher? *I'm still bullish, but with results coming out next week, it makes for a difficult call! The market can react 'anyhow' to results.
Original Long Idea (2-Feb-2021) Attached, Based On Weekly Chart Analysis. Current: 163c vs 61c at the time. Comment at the time as follows: "Briefly, signal received on daily chart however zooming out, the weekly appears promising with the price looking to emerge from a 12-month base. Also noting the weekly RSI at the highest level in 2 1/2 years (60, bullish...