PIK is almost back to the the gap created on the 22 October 2013 after favourable earnings were released.
we can see a terrible head and shoulder pattern on PIK , The next support level I am focusing on is at R25
Following on from the long idea posted on the 23rd of March, PIK has pulled back after reaching a short term high of R45. The stock has also had a recent "upgrade" rating. R41.00 / R41.50 are good levels to reload or open a new position long . SL daily close below R40.50
LESSON OF THE DAY Runaway Gap A Runaway Gap is a continuation move where the price gaps in the middle of a trend e..g Up or Down. The gap is a void (where no prices overlap between two candles) And then the price follows the previous trend. I like to think of a Runaway Gap as a horse that goes from trotting to galloping. The trend then starts to...
PIK is presenting a great RISK/REWARD entry here for a short term trade or to add to longer term holdings. Volume has PIKed up considerably today and oscillators are perking up. NB this is countertrend so one can always begin a starter position and add as it plays out.
Bearish box has formed over the last couple of months with Pick N Pay. The price broke below the support and made a runaway gap. This is a gap that runs in the direction and accelerates down the trend. This is very bearish for the stock 200 >21>7 RSI<30 Target R38.42
Pick n Pay price has fallen out of the rising wedge and has made several attempts at re-entry without success. Now watching price action into ex-dividend date likely to result in a top & see price move downwards. The downward pull is expected to drive price to or below the blue trendline. If price goes below the blue trendline & goes lower than 27 September it...
I probably do more grocery shopping at PnP than at any other store but it is one food share I avoid at all cost for investing. The share price performance over the last five or so years has been underwhelming and continues to do so. The company released a trading update for the 43 weeks ended 25 December 2022 today and despite improvements in sales, Mr Market did...
Pick n Pay has been sold off (pre-earnings) and is in oversold territory. A trade update is still to be released but it may present an opportunity to go long if the market has 'overreacted' here. Price is also at a key retrace / support level.
A price action below 6330 supports a bearish trend direction. Crossing above this level will negate the bearish stance. The Elliott wave count supports wave c which is a correction. Downside target set at 5760, which is close to its 200-day and week simple moving average. Remains a risky trade.
A prie action above 5580 supports a bullish trend direction. Crossing below this level will negate the bullish view. Also starting to retract from the lower range of the linear regression channel pattern, supporting upside potential. The target might be 6320. The 200-day acted as some major support.
I Refer to my analysis dated 7 August.Trade has played out perfectly, and will now adjust stop loss according to current price action.
Price has crossed over the 21ema. Stochastics and Macd are giving buying signals. We are looking at about a 9% return to the top of the sideways channel, with a small stop loss.
(1) Momentum has turned lower following rejection at prior swing highs. (2) Looking for breach of incline support. (3) Threatening breach of monthly pivot at 5664c. (4) Previous sell at 5931c on 28 April saw move to 5145c. Trading Levels: Sell at 5701c Target: 5315c Stop-loss: 5905c For more research, including trade ideas, get in touch today.
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
Above 4300 supports a bullish trend direction. Crossing below this level will negate the bullish bias. Upside price momentum supports the bullish trend. At the lower range of the linear regression channel pattern - this increases the likelihood of a mean reversion trade. MACD crossover supports a change in trend direction to bullish. RIS leaves enough room for...
- Pick n Pay chart is offering a low risk entry for a long trade towards the swing highs ... - Defensive play in the current global market volatility - TP and SL on the chart -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
pick and pay broke out of the box range a bullish pattern at play