Hulamin poised for great upside in 2024

Cup and handle has formed on Hulamin since 10 May 2023.

With these Penny STocks and less liquid markets, they can take a long time to form patterns and formations.

But when they breakout, they can rocket in the direction of the breakout.

I like that it's restested the support and brim level, and is showing that the buying is accumulating.

And that that price is above the 200MA.

These are always risky markets to dabble into, but they're fun nevertheless.

Target R3.91

FUNDAMENTAL ANALYSIS:

Growth in the Can Market:
Hulamin has been focusing on expanding its presence in the lucrative can market. This strategic move likely increased investor confidence in the company's growth prospects and operational focus.

Aluminium Prices:
The price of aluminium has been testing a 13-year high, which positively impacts Hulamin's valuation and profitability, as it is an aluminium products group.

Stock Movement and Company Talks:
The company's stock has seen significant movement, with its value almost doubling in a week. This surge is partly due to Hulamin being in talks that may affect its stock, though details of these discussions were not disclosed.