JSE's Thungela Resources preparing to launch its rockets?
JSETGA faced a beatdown since December 2022 after reaching the peak of its right shoulder to complete the Head & Shoulders price pattern. Considering the latest price action, we can see price hanging around bearishly around the support at R125.00
With Interim Earnings & Revenue data coming out on 21st August 2023, price is forecasted to break this support and retest the R94.00 ~ R102.50 levels, completing a mini falling wedge pattern as a reversal signal to bounce back to R200.00 to close the market gap, and eventually further up to R370.00 to close the other gap.
With Interim Earnings & Revenue data coming out on 21st August 2023, price is forecasted to break this support and retest the R94.00 ~ R102.50 levels, completing a mini falling wedge pattern as a reversal signal to bounce back to R200.00 to close the market gap, and eventually further up to R370.00 to close the other gap.