UPDATE: Tigerbrands downside is crashing faster than expected

2023年5月31日

Inverse Cup and Handle formed on Tigerbrands.
We were waiting for a break down out of the brim level, but alas we never got the entry level.
Instead it gapped down and is already on its away to the target.
It was a missed opportunity but we couldn't do anything about it.
200>21>7
RSI<50
Target R134.44

SMC: Buy Side Liquidity Order block formed above the Handle of the C&H.
This is where Smart Money came in and swept the buying from retail traders.
They SOLD into the buying orders from long traders and stops from short traders.

Now the momentum, trend and target is heading down!

ABOUT Tigerbrands

Establishment:
Tiger Brands Limited is one of South Africa's largest and most popular fast-moving consumer goods companies. It was established in 1921 under the name Tiger Oats.

Brands:
The company owns a plethora of high-profile brands such as Jungle Oats, Tastic Rice, Albany Bread, Oros, KOO, and All Gold.

International Presence:
Despite its strong South African roots, Tiger Brands has a significant international presence, with export products going to more than 50 countries worldwide.

Acquisitions:
Over the years, Tiger Brands has made several acquisitions to expand its footprint. This includes the purchase of Dangote Flour Mills in Nigeria, though the venture proved unprofitable and the division was later sold.