TIGER BRANDS Approaching Overbought In The Short Term / Unfavorable Long Reward-To-Risk
- Lester Davids
- Dec 10, 2024
- 1 min read
Tuesday 10 December 2024 (Time: 12h49)
Previously, clients were alerted to upside opportunity in the share from much lower levels (below R200, now trading above R276).
Approaching Overbought In The Short Term / Unfavorable Long Reward-To-Risk From An Entry Perspective.
This remains a turnaround story however, there will be better re-entries on a pullback.
PREVIOUS POST: TIGER BRANDS Building Positive Momentum In H2, Turnaround Strategy Gains Traction
The food producer has been a given traders a strong return over several months, with various notes having been published to highlight the opportunities and navigate the short, medium and long term views.
Having traded at a 5 1/2 year high of 26564c this week, the share is higher by over 33% over a 6-month period (alert 13 June).
The initial technical model readings were also highlighted at R144 and R160.
The headline of this post has been taken directly from the group's results presentation which encapsulates managements confidence in re-accelerating growth.
The following slides from the company's results presentation stood out to me:
TBS discussed in the following post, which highlights our model capabilities: https://www.unum.capital/post/systematic-insights-timely-signals-from-the-tactical-trading-guide
Previous Post: TIGER BRANDS: Full Target Reached at R242 - Tuesday, 27 August 2024
Pre-Market
Bank/Take Profit
Yesterday's high = 24995c
Lester Davids
Analyst: Unum Capital
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