KUMBA IRON ORE: Zooming Out, Here's How I See It - Wednesday, 31 July 2024

KIO is approaching multi-year lows and, as per the yesterday's end of day model, traders should wait until the downward momentum starts slowing before buying, alternatively, look to phase into a position. Note, as per the daily chart, the share is nearing multi-month swing lows which could be a level of interest for traders looking to take advantage of a swing long.

NB: You could also consider waiting until we see an improvement in the candle structure.

Reading via: Tactical Trading Guide (TTG)

Lester Davids

Analyst: Unum Capital