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Tiger Brands: Unwinding From Overbought + Current Price Action Model

Writer's picture: Lester DavidsLester Davids
Feb 162 min read

Trade Tiger Brands with Unum Capital.

To get started, email lester@unum.co.za


In 2019 I need a faster way of analyzing a large group of shares within a short period of time. That's how the Tactical Trading Guide was born. My process, automated. In short, it's a tool that helps traders measure reward-to-risk and uncover opportunities. A great (real-time) example is Tiger Brands - a share where I updated my view on 10 December and again on 07 January. Here, the reward-to-risk on the buy/long side appeared unfavorable for new longs. In fact, the model pointed toward excessively overbought conditions and the potential for a pullback.


*This note was prepared on Thursday, 13 February at 16h16.


As of Thursday afternoon, the model reading is as follows:



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Previous Post: TIGER BRANDS Approaching Overbought In The Short Term / Unfavorable Long Reward-To-Risk


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:




 

  1. 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


  1. 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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