Trade Alert: Short/Sell Tiger brands (TBS)

Trade Alert: Short/Sell Tiger brands (TBS)

Tiger brands

  • Recovering from the March lows after the listeriosis outbreak, TBS is now approaching the R400 resistance area
  • As it approaches that area, a rising wedge pattern has formed which is considered bearish.
  • To provide further resistance around the R400 area is the falling 50dma, which also looks set to cross the 200dma in a typical ‘death cross’ style
  • A death cross is seen when a short-term moving average(in this case 50dma) falls below its long-term moving average (200dma). A ‘death cross’ is usually bearish.

 

  • Here is what I’m looking to do:Sell TBS @ R400 (or better)

    Take Profit @R350

    Stop Loss @ R420

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