The daily is very noisy.
Even the weekly is crazy.
So I had to really break it down and look at the monthly chart.
And what we can see is the noise being reduced to a RECTANGLE.
Now right now the price action is down. Despite the breakin uptrend. Despite the higher lows.
The current momentum is down. And all we can do is wait for a breakout.
Which way...
Tsogo (TSG) is a gaming, hotel and entertainment business which has split into separate gaming and hotel businesses in order to unlock shareholder value and to enable each business to become much more focused. As President Ramaphosa stabilises the economy, following the pandemic and introduces more growth-oriented policies we can expect business and consumer...
Tsogo (TSG) is a gaming, hotel and entertainment business which has split into separate gaming and hotel businesses in order to unlock shareholder value and to enable each business to become much more focused. As President Ramaphosa stabilises the economy, following the pandemic and introduces more growth-oriented policies we can expect business and consumer...
JSE:TSG has released positive numbers. Most of them up >100%, and there's a dividend in there. Technically, JSE:TSG is near the recent high, if these numbers receive a positive response from the market, we might see a breakout on the up side.
The share had a good run from May 2020 rallying from R1,71 to peak at R13,00 in November 2021.
Since that peak, the share has made new highs but the bulls seem to not have the steam to break R14,00.
The three peaks at R13,00/R13,87/R13,75 can be viewed as a triple top and the MACD indicator has been flat in this price area.
This price formation calls for caution...
Below 980 supports a bearish trend direction.
Bearish MACD crossover (lower panel) confirms a change in trend direction to bearish.
Downside price momentum supports the bearish trend.
Price action is also overbought, which increases the likelihood of a correction that might be temporary in nature.
TSG has advanced to trade in the mid-point of my target zone. Higher by 22% over the 1 month since publication, traders could use these levels to reduce as momentum appears to be in tact or, take profit.
The name is now also higher by 179% from my original long idea in October 2020 (also attached).
Another opportunity may present itself here with a possible C&H forming. This setup played out well previously in this stock so this is one to watch if history is to repeat itself its best you are positioned to take advantage. If you not already long a chance to do at 904 should present itself with a S/L@865. Remember to manage your risk when trading more so when...
Another opportunity may present itself here with a possible C&H forming. This setup played out well previously in this stock so this is one to watch if history is to repeat itself its best you are positioned to take advantage. If you not already long a chance to do at 904 should present itself with a S/L@865. Remember to manage your risk when trading more so when...
Tsogo Sun Gaming (TSG, 789c): Pent-up demand and an unwinding of restrictions many see this name continue to trend higher as has been the case since July 2020. Now trading on a rising trend line support, the share has also retreated to the prior breakout level. Clearing downward trend line A_B suggests a resumption of the upward trend. Buy at current levels or...
Tsogo Sun showed a major sign of strength (MSoS) in June 2020. We are now breaking the highs of that push with a significant bar on some volume. This opens some upside potential with the next major resistance level at around R20. Using the significant bar and yearly pivot point as stop loss (SL) gives a great risk-reward trade.
$TSG breaking out again here from this C&H setup giving late comers a chance to make a bid. It's early in the trading day , lets see if the stock closes at this price. Orders placed.
Last Close (TSG, 593c) | TSG is developing another setup, this time trading just below the overhead resistance level of a base that has developed over an 11-month period. Having cleared the mid-point of it's weekly linear regression 2 standard deviation, the price action is positive, with a print and weekly close above 619c being the trigger for further upside....
