Only fictional trading and no trading advise should be taken by me as I hold no responsibility but for my own financial investments. NB - I am not a financial advisor
- There is a possibility of a medium-term trend reversal for MRP as the price approaches the lower boundary of the channel, which could act as a potential support level. - This support level has the potential to launch a new upward movement in the share price. - RSI is showing signs of moving out of the oversold area, indicating a potential buy signal. - RSI...
Mr. Price (MRP) has broken up and out of a 5 day ascending triangle formation this opens up a potential target move to the R140 area
The last analysis on Mr Price was on the 17th of March 2023 and the bears were still in control, link below. Looking at price action, there has been a significant bounce from 13104 and most importantly, this bounce has broken above 15199 which rules out a simple five wave decline from 18972. The larger Elliott Wave structure from 24225 is a double-zigzag (W)(Y)...
Break above downtrend has occurred for the first time since 2022... This isn't a breakout pattern that I normally look at, but it's still a breakout move. Price<200MA (elastic) This means, the price has a likelihood of moving up to the 200MA (Equilibrium) to take out the inefficiency. Target R177.42 BREAKAWAY GAP formed in December, and since then the price has...
A technical update from the prior analysis with link below. The bear market from 24225 went lower since the previous forecast prompting and update of the wave count. The updated wave count still implies a combination pattern is unfolding, in this case a double zigzag with a triangle wave (X). The stock is in the later stages of wave C of (Y). There are no...
MRP weekly has come off 37% since the highs of 2021 and has formed a weekly falling wedge pattern till present date. Currently the bulls are desperately holding long term support at the R153.00 mark which if holds can see price slowly start trading back up towards the R185 mark in the next few months.
Inv Cup and Handle formed on Mr Price. The price broke below the brim level and is showing downside momentum. There is a previous support that still needs to break before all systems go, but my signal definitely gives a sell here. Indicators all look bearish 200 > 21 >7 MA RSI <50 - Bearish divergence Target R133.00 ABOUT The company Mr Price was founded...
MrP stuck in this Triangle, seems like it will likely keep going down for now
Mr Price looks like it could go test R152.80 again Clear supply at R166
Mr Price had an intermediate low on the pink arrow then made a higher low on the green arrow denoting the first daily cycle out of intermediate low. A bullish cycle would have been supported by price not going lower than the green arrow. What is the expectation: 1. Price remains bearish restricted by the green trendline 2. A rejection on that green line with a...
Mr price has been on a down ward cycle as inflation going up but we might see a change of market trend
Mr Price released a trading update for the 13 weeks ending 31.12.2022 (Q3'2023) on Friday, 20 January 2022. As much as the update looked good on the surface, excluding the newly acquired Studio88, the comparable results looked dim. Load shedding continues wreak havoc on operations and the high inflationary environment coupled with high interest rates and negative...
MRP shares might be locked in a bearish range (lengthened dips relative to rallies). A move towards formation of a lower lower as shown is quite possible.
With today's opening, JSE:MRP missed our trigger price of 185 by 1c. When it breaks through this level, we will be entered into a long position with the target at the 211 level.
MR Price is potentially forming a W Formation. THe RSI is making higher lows and has broken the downtrend - Bullish momentum. The target could be R240... CONCERNS: The downtrend is still evident with a downtrend line dominating and negative Moving Averages. If the price turns up things will look brighter.
Price is at oversold levels so im looking for a relief bounce toward R190 SL - Daily close below R177 -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
JSE:MRP has triggered a short position. This is based on the stochastic turning down through the 80 line, the MACD going into the negative and the crossing downwards of the two EMAs. We have placed our target down at the 166 level which coincides with the lows of mid July.