The monthly chart of PPH shows we had a falling wedge from which price broke to the downside, we have had a swing low on the monthly chart, if we recover the wedge we will have confirmation that the move down was a false breakdown, this will be a very bullish setup with price expected to move swiftly to close above the purple resistance.
Stop-Loss If we get...
Pepkor Holdings (Pep) (PPH), previously known as Pep, is 71,01% owned by Steinhoff International. With the collapse of the Steinhoff group following admissions of "accounting irregularities", the directors of Pep decided to change their name back to Pepkor Holdings to avoid negative publicity. The group includes Ackermans, PEP Stores and Bradlows and HiFi...
See link below for previous analysis.
Pepkor held above 1330 and though it initially looked as if the move would be a powerful impulse off that low, price has trended upwards in a very choppy manner.
I am looking at the advance unfolding as a leading diagonal so I am expecting more choppy price action in the short-term.
The overall trend is still looking...
Pepkor Holdings (Pep) (PPH), previously known as Pep, is 71,01% owned by Steinhoff International. With the collapse of the Steinhoff group following admissions of "accounting irregularities", the directors of Pep decided to change their name back to Pepkor Holdings to avoid negative publicity. The group includes Ackermans, PEP Stores and Bradlows and HiFi...
JSE:PPH found support around R9.60 in mid 2020 and went on a rally to retest the R27.40 highs of December 2017, effectively closing the first week of November 2021 with a shooting star after being pushed to the downside from R27.59.
Price has been on a downtrend since then and is currently in a corrective phase in the form of a bearish flag, taking a potential...
PPH has met the conditions set in the main idea, now we see price trending downwards into a daily cycle low. Ideally we want price to touch the blue support line and create a double bottom with 23 June. This will propel price above the 200 day moving average. Our goal is to open a position when we close above the steep pink line near current price on a daily basis...
PPH has had a long weekly cycle, currently on week 48, the longest cycle since 2017. The share is seeking a weekly and yearly low price point. Compared to ther shares, it is quite a distance from the COVID lows, therefore those are more attractive to buyers. Looking at the chart we would invest as per the following guidelines:
1. We seek a swing low confirmation...
Price has finally broken above the Downtrend since November 2022.
Also the price formed a Scallop formation, which has broken up and out of.
Momentum is pointing up.
Other indicators confirm.
7>21
RSI>50
Target R20.10
ABOUT THE COMPANY
~ JSEPPH Pepkor Holdings is a South African-based investment holding company that operates in the retail sector.
~ Pepkor...
The last coverage of Pepkor was on 05.04.2023 and the share has traded as forecasted, link below.
Pepkor released interim results for the six months ended 31 March 2023 on 30.05.2023.
● 4.3% growth in revenue to R43.8 billion
● 9.8% decrease in operating profit to R5.1 billion (before capital items)
● 11.7% decrease in HEPS to 80.8 cents (8.6% decrease in...
We mapped the bearish case for PPH, price is now trending towards a confluence of support. The R17.85 area is where the 200 week moving average and the lower support line of the falling wedge intersect. A line of resistance can be drawn from 7 November 2022 through 30 January 2023, when price closes above this line & the 10DMA, it signal a trend change to the...
JSE:PPH new 52-week low after slicing below the distribution level at R17-ish. Retailers can't seem to catch a break these days. Steinhoff or load shedding?
The stock is in a solid downtrend (-40% from beginning of 2022) and looks set to go lower looking at the daily chart
R16.30 is the next big level. I will be watching closely to see if we get any setup that could trigger a possible reversal / relief rally .
JSE:PPH is barely hanging onto the potential support level, if it doesn't hold things can get worse for the stock. Other than that JSE:SNH is still catching strays.
My last coverage on Pepkor was on the 12th of October 2022, link below.
I forecasted a more prolonged correction and gave a stop-loss for risky longs below 1878 and the stock has not disappointed.
Looking at price action, the correction looks more like a zigzag that is currently in wave ((c)) which is unfolding as an impulse and currently in wave (iv) of...
The Pepkor Large Head and shoulders broke below the neckline and showed serious selling.
The trade has been a long hold but definitely worth it.
For 1, the price is moving down constantly - without any worry
2. We are making profits daily because of Short Interest income.
So I'm happy to hold the short to R16.00 or so.
On the SMC side (Smart Money Concepts)...
Now making it's sixth attempt at support after Steinhoff sold of more of their holdings, this one looks ripe for the pickings. getting very over-sold in the short term could mean that a bounce is imminent. I think it offers good value near R19.00 for a bounce back into the 20's. At these levels, one could quite easily place a stop loss just below that support line...
PPH is seeking to have a yearly low price point, 19 Dec price point is a contender, however the current price action is up against declining trendline resistance (pink) & price was rejected where this line intersects the 200 DMA & upper resistance of the rising wedge.
There is a possibility of price having another go at the resistance after bouncing off lower...
