Tuesday 10 December 2024 (Time: 10h43)
The share is acting in line with the price action model reading as was seen on Friday evening. The reading is time-stamped.


Previous Post: THUNGELA RESOURCES Listening To The Price: 'Do Not Chase'
Wednesday 03 December 2024 (Time: Pre-Market)
For short term/active traders, price is key applying a disciplined but flexible approach to entries and exits can result in continuous cash flow being generate.
The share is lower by 1200c since the previous note.
The previous post highlighted the short term overbought regime for TGA, with the share having reached a high of 13898c on the day.
Following the publication of the note, the end of day model reading via the Tactical Trading Guide was as follows:
Short Term (1 to 10 days): "Very strong move. buyers in control but do not chase. The share may fail at it's attempt to hold it's prior session highs. If it does not hold, then the 8-day EMA could be a target"
Medium Term (2 to 4 weeks): "Aggressive buying but do not chase. Look for overshoot or failure to hold the prior session highs to short/sell back to the 8-day EMA"
For clarity, 'do not chase' means do not buy aggressively at or around the current levels as there is a risk that the price could lose upside momentum.

Time-Stamped Model Readings


Previous Post: THUNGELA RESOURCES Bullish Target Exceeded; Approaching Short Term Overbought
Tuesday 19 November 2024
Share Code: TGA
The rising 21-day EMA has served as a spot to re-enter on the buy/long side, following the minor pullbacks.
Original buy/long view at 10697c vs yesterday's high of 13898c.

Previous Post: Take Profit
Friday, 04 October
Time Published: 09h20
Ticker: TGA
Bank / Take Profit; Full Target Reached
Previous Post: Wednesday, 02 October 2024
Published: Pre-Market
Share Name: Thungela Resources
Ticker: TGA
The share is in the money by just over 600c, having reached a 3-week high of R113 during yesterday's session.
Previous Post (Potential Short Term Bullish Reversal)
Thursday, 26 September 2024
Published: Pre-Market (07h22)
Share Name: Thungela Resources
Ticker: TGA
Stable price action / improving candles structure
Support at prior swing lows
Positive open to close during yesterday's trading session
Above-average volume, suggesting an increase in buying interest
Positive divergence as per the 7 and 14-day Relative Strength Index
The share closed at 10692c, however, hold above 10550c is key to maintaining an ultra short term bullish thesis.
Setup invalidated below 10220c
Potential upside targets: 11420c; 11700c
Last close: 10692c
Daily Chart, With Levels + Volume
Daily Chart, With 7 & 14 RSI highlighting the bullish divergence
Model Reading via the Tactical Trading Guide
Comments