$JSENPK - Nampak: Leading Diagonal, Debt, Rights Issues...
I will not dwell on the history of Nampak, its certainly had better days both as a company and as a stock.
Before even thinking of taking a punt i highly recommend you you read, in detail, the Trading Statement released on SENS on 2022.12.01 and the subsequent annual results released on 2022.12.05
The company is riddled with debt and its operational ability is an ongoing concern and a circular will be published around 2022.12.15 on the proposed rights issue to raise capital.
Technically, from an EWP perspective, the advance from the September 2020 low of 54 zac to R4,49 unfolded in five overlapping waves consistent with a leading diagonal for wave 1 or A.
The correction has been well contained in a descending channel but for the wave 1 or A count to remain valid, price must hold above 54 zac.
This is purely a speculators stock and we can expect some volatility with the upcoming announcements on the rights issue.
Before even thinking of taking a punt i highly recommend you you read, in detail, the Trading Statement released on SENS on 2022.12.01 and the subsequent annual results released on 2022.12.05
The company is riddled with debt and its operational ability is an ongoing concern and a circular will be published around 2022.12.15 on the proposed rights issue to raise capital.
Technically, from an EWP perspective, the advance from the September 2020 low of 54 zac to R4,49 unfolded in five overlapping waves consistent with a leading diagonal for wave 1 or A.
The correction has been well contained in a descending channel but for the wave 1 or A count to remain valid, price must hold above 54 zac.
This is purely a speculators stock and we can expect some volatility with the upcoming announcements on the rights issue.