Brait (BAT) is an investment holding company that owns 78% of Virgin Active, 93.7% of Premier, and 18.5% of New Look (a clothing retailer in the UK). It sold its stake in Iceland Foods for R2.4bn in June 2020 and used the proceeds to pay down debt. It is itself 46% owned by Christo Wiese's company Titan. The company's most important performance measure is its net...
Brait (BAT) is an investment holding company which owns 78% of Virgin Active, 93,7% of Premier and 18,5% of New Look (a clothing retailer in the UK). It sold its stake in Iceland Foods for R2,4bn in June 2020 and used the proceeds to pay down debt. It is itself 46% owned by Christo Wiese's company Titan. The company's most important performance measure is its net...
The last time i covered Brait was in 25.10.2022 and the forecast was for wave 5 after the triangle consolidation in wave 4, link below.
Wave 5 was short and swift and created a double top with the peak of wave 3.
The share is down 43% from the 510 high and there are no signs of a reversal yet.
The crucial level to watch is 230 as a break below it would reset...
Large Bear Box Pattern formed and the price broke below.
The signs were showing downside to come.
But it's been a slow trade.
200 > 21> 7 - Bearish
RSI <50 Bearish
Target remains at R2.50
ABOUT THE COMPANY
Brait SE was founded in 1991 and is headquartered in Johannesburg, South Africa.
The company has a diversified portfolio of investments in various...
Large Bear Box Pattern formed over the last year with Brait.
And unfortunately it gets worse.
The Highs have become lower and lower accompanied by bearish indicators.
200 > 21> 7 - Bearish
RSI <50 Bearish
Target R2.50
WARNING:
The breakout was definitely not a strong one. So, if there are strong prospects and investors want to protect the company, it...
Brait has held onto long term TL support (blue solid line) and at todays levels, is breaking its downtrend (yellow) for the 4th time. It has pulled back heavily since its last up move, so might be worth a bite here for another move to a possible R5?
Stop loss on a close below the solid blue TL support.
Brait (BAT) has been trading in a consolidation box between R3.60 and R5,00 for the last year or so,
I breakout should be pretty close around the corner.
W Formation - breaking as we speak. One more candle above and it's systems go for this one.
Falling Wedge broken as of last week - Bullish
Price target R4.8
CONCERNS:
7 And 21 MA is still below the 200MA showing the trend is still sideways.
Watch the QuanTechMental analysis using this link youtu.be
Brait has undergone some restructuring of its business over the past three years and has seen the share price drop from lofty heights to hitting a bottom in March 2021 at R2,30.
The rally to R5,10 unfolded in a clear impulsive manner which i have labelled wave 1 to 3.
Since hitting the R5,10 the share has...
Brait reported a profit of R446 mil yesterday. The share jumped 14%.
Brait has been trading in a defined range for more than a year now 234-429
Quite a bit of upside potential here is you look at the double bottom
Target is 429c - Top of channel
BAT Daily Time-frame.
Possible buying opportunity.
My reasons:
Market got rejected from the lower resistance level (red zone) and broke out from the trendline..it also retested the trendline and got rejected there as well. Market also got rejected from the blue resistance level.
I would have my targets at the dark green zone, anywhere between 400c and...
Rejection at the bottom of the channel and channel player scan add some in anticipation of another test of the top of the channel 400- 430 in the future. Stop loss below channel break 250 on the daily chart.
inverted teacup
SL @ 408
tighter SL @ 366
entry below 326
TP @ 250
showing BAT looking to take it's journey back home to previous lows at 250, what do you think?
This note is an extract from my weekly research report
Brait (BAT) | On Friday, volume was substantially higher at 5.38m shares traded versus it's 50-day average of just over 1 million shares. The share also traded close to 2 std deviations below it's 200-day linear regression and also developed a long candle wick on the day, suggesting strong buying interest off...
