SHP has been moving sideways in a clear pattern, with repeated fluctuations around earnings results that typically result in a price decline. It's possible that this pattern will repeat itself once again?
Head and Shoulders formed on SHP. It broke below the neckline and now its been coming down on the downtrend. We can expect the bounce up, before the downside. 200>21>7 - Bearish RSI<50 Target R177.11 CONCERNS: The JSE ALSI is setting itself for upside due to the Symmetrical Triangle. This might cause a disturbance in shorts with retailers but right now the...
Head and Shoulders has formed on Shoprite and the price has broken below the neckline. 200>21>7 - Bearish RSI<50 Target R177.11 CONCERNS: I don't like shorting strong companies generally especially when the JSE ALSI 40 is on a strong uptrend. Revenue growth is up 17.20% Net income Growth is up 14.70% Average annual Revenue growth (15yr) up 11.08% Net Margin...
Shoprite had a push to break the yearly pivot point with some volume but after a the upthrust (UT) there has been two lower volume test that has failed. A large reversal bar yesterday also indicates the path lower is open now. We are likely to test the 10000 level and potentially breaking it. This looks like a backup (BU) after the breakout of the previous trading...
JSE:SHP has been in a downward trend since mid September. It broke through the resistance level on the 9th of October and it went back down to test the level as support. If it breaks the high of the 13th of October, I will consider a long position up to the previous high of the top of the trend.
SHP has held R100 more than once last week and managed to hold. Made a nice pin bar reversal candle on Friday as well so a long will trigger if we have a close above R102. First target at R105. Stop loss would be a close below R100 on the daily.
Broke the downtrend during lockdown, retesting the line. Hopefully with easing restrictions there could be some kind of recovery. Let's see.
Wish it was under better circumstances, but SHP seems to want to test the resistance line.
Down trend been going for a long time, this could be an interesting test of that line.
Shoprite has been weaker than the market and continues to decline. Looks like 2020 will continue this trend. After a backup to the trading range (TR) after the breakout price is going on to the markdown phase.
shoprite a posible bounce on the zone for a move higher
Longterm downtrend holding
Shoprite is making higher lows and have bounced off support while showing hidden bullish divergence. Buy at R136, stop below R132.50 and first profit target at R145.
Standing back and checking the long downward channel in SHP is rather scary. Last push didn't break the negative channel
"Volume Weighted Average Price (VWAP) is the ratio of the value traded to total volume traded over a particular time horizon. It is a measure of the average price at which a stock is traded over the trading horizon." Wikipedia. (Blue Lines). I use a rule of thumb, never buy/long above vwap and never sell/short bellow vwap. Technically we are below the higher...
Retailer pairs idea from @Lesater_Davids +SHP / -WHL at 2.0330 with a target of 2.235 and SL of 1.932
JSE:SHP is showing all of the signs for a long position on our trend following momentum strategy. It would have been better to catch this a bit earlier, but it still has a bit of room to move until it hits the previous resistance.
JSE:SHP has broken out of a small descending triangle pattern which is a signal for a short position. I have entered a short position and am aiming for around the 16000 target level.