Exxaro Resources Limited

EXX - 1D - THE STORY OF DEMAND AND SUPPLY

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Exxaro is highly overbought on monthly, weekly and daily charts. Rising wedge forming on daily chart is bearish. CEO says they will be making no further investments in coal. 10 ships currently waiting to berth cannot off load due to lack of trains to Ermelo. This means we are importing coal, which is negatively affecting Exxaro. Will not buy at these levels and consider taking profit if already in.

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