TIGER BRANDS

Finweek English Edition - - INVESTMENT -

The GT247 t r a d i ng desk r emains l ong of t he J SElisted food group as a short-term trade idea. The f irm ad­vised: “Tiger Brands ( TBS) is tech­ni­cally look­ing at­tract ive to buy, as t he stochas­tic is now in an over­sold po­si­tion. Tiger Brands had a strong run from Novem­ber last year to Jan­uary of t his year peak­ing at R337.50, af ter t he con­clu­sion of Dan­gote Flour and higher fore­casted prof­its for the group. We an­tic­i­pate the stock to f ind sup­port at cur­rent mar­ket lev­els, be­fore a new move higher to test the highs es­tab­lished in Jan­uary. Fun­da­men­tally, the com­pany re­mains solid and con­tin­ues to give share­hold­ers good value. Traders could look to buy at R294.50, with a stop loss at R285.00. We have put our ini­tial take profit at R320.00.”

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