JSE:CPI seems to have topped in April 2022 and has been moving downwards since then. The stock enjoyed support near R1600 twice, the recent rally came to a halt as the price reached the trend line. Also, JSE:CPI is trading below declining moving averages; waiting to see how long the R1600 - R1500 level is going to hold.
Other banks are either declining or...
Cup and Handle formed on Capitec since it broke above the Downtrend.
Now that the price is above the brim level shows strong momentum up.
Indicators also confirm upside
7>21
Price<200 but moving back to it's elastic equilibrium level
RSI>50
Target R2040.00
ABOUT THE COMPANY
Capitec was founded in 2001 and is headquartered in Stellenbosch, South...
We entered a long on JSE:CPI based off of the crossing of the EMA's and the turning up of the stochastic and the MACD. The trade is looking good so far with it being about a 3rd of the way to the target at 1925. It may find a bit of resistance at the current level, but I think we can potentially see a nice profit at the target if this momentum continues.
Capitec has retraced to an area of interest...
Bulls will want to long from this zone ( R1718-R1780) with a SL below the recent low. Loss of this level will open a leg down targeting R1514
Inverse Cup and Handle formed on Capitec and the price has just been on a strong downside trend for the last year.
We had a break below the brim level with indicators showing strong negative divergences.
200>21>7
RSI>50 - Mixed
Target R1,528
ABOUT THE COMPANY
Capitec is a South African retail bank that was founded in 2001 and is headquartered in Stellenbosch,...
After the big 1 Dec drop, the price has tried to consolidate. the problem is, that it is consolidating at the lower end of that big red bearish engulfing candle. I think she bumps her head here and then moves sharply lower.
The finance sector had good 2022 Capitec was amongst the laggered. Now seemingly finding some support 1816. Proving an interesting low risk long trade with a roughly 4% lower with a target at the prior highs. Some caution and risk management is required when trading on the laggered group
The Head & Shoulder worked like in the textbook. Now we have a potential retest on our hands. Will buyers push through the resistance to reestablish the uptrend; or will it (resistance) hold and we get further downside?
*I'm on the fence.
With interest rates high, and continually increasing in an attempt to curb inflation, banks will be the biggest beneficiaries. Capitec bank continue to smash new records, outclassing it's peers or the biggest 4. It has recently added Mercentile Bank to its balance sheet and it will be focused on business banking, also it has launched Capitec Connect, a mobile...
Since the last analysis, Capitec is continuing to look Bearish.
It's formed another RARE formation called a Reverse Cup & Handle. This is where the handle is on the left side.
Now that the price has broken below the new Brim level at R1659.23
My second target for the bank is at R944.16.
Side note: All the South African banks are showing major downside to come...
I gave out a stern warning about Capitec's overvalued price. I did say that this stock will be in a crazy nosedive very soon. Price has been falling from the R2 380 highs. We are now approaching the R1 500 zone which needs to be broken.
I'm loading Capitec shares very aggressively at these zones:
1. R550
2. R200
LOOK BEFORE YOU LEAP!!! INVEST WISELY!
JSE:CPI released results, good/bad/whatever, this week. The stock rallied a bit a day before the results, but the market hasn't been kind to JSE:CPI and other banks. Currently the stock is trading near R1560/share. R1530-ish once acted as an area of value, resistance turned support. Will the "support" level hold?
