Tigerbrands just pounced and set its target to R214.46

2023年10月20日

Rev Cup and Handle has indeed formed on Tigerbrands.

And it looks like the buying and demand is on point. However, this is a very aggressive buy point which does not work with my trading demeanour.

It looks like this share price rally was fundamentally driven with the CEO stepping down.

Tjaart Kruger will replace Noel Doyle as the CEO starting 1 November, Tiger Brands said in a filing on Friday.

7>21
Price<200
RSI>50
Target R214.46

It's looking good for the company and the price as there was strong support around R138.00.

We will just have to wait and watch for how it plays out.