Purple Group broke of of a four month consolidation pattern today. The previous high of 120 looks like a possible target. Warning: Small caps with low liquidity are prone to wild swings at times. Take that into consideration when setting a stop loss. A break back into this consolidation pattern on a daily chart could indicate a consolidation continuation.
Purple group broke out the trendline to reach R1.20 where it started loosing momentum(fake out) and prices have been dropping. I think Purple Group might drop to 22c per share until it can start gaining momentum and predictions say it might reach R1.99(R2).
- After spiking higher after and earnings release last November, price has come back to retest the break zone.
- Currently holding above the 100 day moving average.
- While price stays above 70 i expect the share to keep trending higher.
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Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Purple Group still stuck in its cage and attractively looking more like a share one can trade in its fluctuations and make short term profits. Buying in at 82c and selling at 90c would yield 9.75% returns (before expenses) and selling at 88c would yield around 7.32%( before expenses).
But besides that, we are still on a long hold.
Caged Bird. In the short term Purple Group seems locked between the 80c support and
90c resistance. This is a trend we know all to well with the low volume stock. Excitement has died down since the results were released and I think we can be content that the share hasnt dropped below 80c which is were it was struggling to beat before results. Like stated before,...
Purple Group hit the strong 80 c support line which at this point we should all be very familiar with and produced a rebound strong enough to still keep us within the uptrend support line. Ideally we do not want to go below the 80c support as this will effectively put us back to pre results position. I still have a strong long support on Purple Group for long term...
New month, New missions. After peaking at an amazing R1.20, Purple group has fallen back down below The R1 mark and closed the week of at 93c. Looking back from June until now, we see the gradual increase of share price and that large fluctuations are no stranger to this particular stock. So the dip from R1.20 to 93c(-22.5%) shouldn’t be a concern right now. We...
In my 14 November analysis I made my first mention of a possibility to reach R1.00 buy end of the month and im glad that analysis came true. Very positive results announced and a good chance we might see another rise in the new week. The next overly ambitious target now is R2.00 :). A more conservative target will be R1.20 - R1.50 hopefully by March 2021and maybe...
Sooner than we expected, Purple group peaked at R 1.00 for a brief moment before coming back down to rest at 89c. Probably a good sign of things to come when or after results are released this coming Friday. 80c still a very strong support and the share price seems comfortable above this support line. Right now not much more say but lets wait for earnings report.
Resistance has become support. After struggling for a while to go beyond 80 c, Purple finally managed to peak at 92c before coming back down and rebounding at 80c. Its still to soon to tell if it will remain above this or dip back down below 80c.
Results are being announced soon and if all goes well as im sure most of us are expecting it to, we could very well...
As stated in my previous analysis, either the resistance or the uptrend support would have to fall by the 1st of November and in this case I think we can conclude that the uptrend support has now been made redundant and the 80c resistance remains in force over the share price. Reaching a max price of 78c this past week, i think that stability can be commended. The...
By November 3rd we should know the fate of Purple group share price as thats when the triangle will be broken and at least one of the lines has to be broken. In this case its either the resistance or the uptrend support line. Both being respected very well at this point.
Being consistent at the 78c to 80c a share, this is a decent buy at this point to hold long...
The stock had tested the lows of R10 of which is a very strong support level that held from 2009. The multiple bottom hits the stock created gives full confidence now that R40(resistance) is broken to the upside. There are other good fundamental factors that gives us an edge of good reasoning to why is the stock seeing positive gains( do your research on the company)
At the moment we see a lot of strength coming through on the Purple Group price chart.
This may be due to independent, savvy South African investors fleeing the rand and a reckless, racist, incompetent government bent on expropriating white peoples' land. South Africans are an extremely rugged and independent nation.
This goes a long way toward explaining why...
