Real-Time: 11h37
Ticker: TGA
The share is breaching multi-month incline support.
Downside risk targets 9100c, then 8300c.
The price remains below all major medium term moving average, including below the 200-day SMA.
For short term traders, the swing lows at 10000c is a key range to monitor, however, this is also a psychological level (round number theory) which traders/investors will be monitoring for any further weakness.
On a long term basis, the share is lower by 60% vs October 2022 where I published a relative chart highlighted the breakdown vs the Top 40 index. At the time, the print was R289 vs R110 today.
My then, as published, is shown below:
Lester Davids
Analyst: Unum Capital
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