Shoprite hasn't had the best year. In March it created a high of R281.90 and then proceeded to crash all the way to R174.50. Interestingly enough however, Shoprite has created a cup-and-handle pattern over the past two months. This is a common bullish pattern and indicates a change in trend. If you look at the chart above, you can see how Shoprite formed...
Chart says it all. I'm looking to short the next bounce. Analysis based on the weekly data. All indicators still pointing lower. Risking 2% of portfolio
From a fundamental perspective, I see SHP as a buy. This year has been hard on SA consumers so far. With an increase in tax, SA consumers are left with a lower disposable income. Inflation is going up, so are interest rate. Never the less, food remains a necessity and therefore we remain confident that food remains a good investment in times of financial...
SHP looks like a buy between~£41.75-45.00. A close below the trend line would make me pretty nervous and I'd probably exit the trade. In the current environment I suspect that with indices at all time highs it would be a macro factor that would trip people out of the trade than a company specific factor.
SHP Shire Possible Gartley Sell A-B 0.786 retracement of the X-A leg B-C 0.618 retracement of the A-B leg C-D Anticipated 1.27 extension of the A-B leg, (and 1:1 measured up-trend move of A-B). Completing around 5426 Entry 5390 - watch and manage, may need to be adjusted to accommodate recent highs of 5330's Targets T1 5005 - 0.385 retracement of the...