Hulamin downside update to R2.25

21 ก.พ. 2023

M Formation formed on Hulamin and we saw bearish signs
The market then broke below and has stayed below the neckline but is creating a somewhat Rectangle.
They buyers and investors seem to be holding the level and supporting it as much as they can.
Once catalyst and the stock will drop dramatically
200 >21> 7 - Bearish
RSI <50 and bearish divergence
Target R2.25

ABOUT:
Hulamin is an aluminium semi-fabricator business located in South Africa supplying customers across Africa and the world with an extensive range of quality products.

Supported by a sales office in South Africa and a network of international agents, the company sells to leading manufacturers and distributors across many industries around the world.