Continuation Sell? The share is developing a bear flag technical formation which is triggered either (1) on an immediate break below 21100c or (2) on a breached of the incline support i.e. lower boundary of the bear flag structure. The current consolidation is on the share’s 200-day moving average (SMA) which raises the risk of a break below the SMA and a...
Continuation to the downside? Stop loss: R216.33 Take profit: R197.62 *No.1 Manage your risk*
a close above R217.00 will be a bullish breakout out of a 2 month bearish channel.
Following up on the previous post of the major trend break down, SHOPRITE continues to move lower which possible support now at around the 200 day moving average R197.50 - R202.50 It will need to get back over R225 to reverse the short term trend -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Shoprite SHP. In my 21 March research report (23391c) I was looking for a print into the mid-240s followed by a decline. It traded into that level followed by a sell-off into 211 last week Friday. Now close to the prior breakout & consolidation range. Short term trading perspective: the re-sell & re-buy zones I have in mind (provisionally) is on the chart.
A small H&S (not perfect with right shoulder a bit high) played out. Hitting support now. R212 level needs to hold for a bounce back to R230. Trade ideas are my own and not financial advice
- Shoprite has been on a super trend since SEP 2020 - Currently price has pulled back below the 50 day moving average which has been a very supportive moving average. This could form part of a distribution phase or possibly be the top of this move. I will be cautious taking any longs at this level. -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion...
SHOPRITE's price has broken out the top of a symmetrical triangle pattern signaling a long position.
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
Shoprite continues to eat food retailers for lunch. Strong update from the company. With PicknPay and spar falling rapidly Shoprite is the only food retail play in town
In this week's stocks in play Shoprite $SHP Ascending triangle looking ready for a breakout. Let's wait for the close and see #JSE
Possible Pairs Trade: Long SPP vs Short SHP Ratio level: 0.86 3-Month Perf: SHP: +8.6% SPP: -16.2% R165 is a big level for SPP, so consider the idea PENDING. For more real-time insights and trade ideas, including market neutral/pairs get in touch today.
SHP can provide a good buying opportunity if it retests the R190. level reward to risk 1.5:1
Shoprite - possible bull flag technical setup. Potential price path highlighted on chart. I'm monitoring for entry. Most recent trading long 29 July at 15720c. This note is an extract from today's report for the week commencing 15 November 2021.
MY TODAY TRADE I am long shoprite entry R 182.62 STOP R 177.62
Price is breaking out of this ascending triangle and closing above 18552 level which has been a key prior level of resistance on the monthly chart. Will be adding to my long position here and this is also a good position for a long at 18690, ST term limit 21300 if you trade using targets with a nice R/R in this trade of 1:3. LT price trend is up, remember to...
Below 18800 supports a bearish trend direction. Remains close to the upper range of the linear regression channel pattern. Further supported by the price action close to the upper range of the Bollinger Bands. In overbought territory - confirming an overextended price action to the upside. Downside price momentum supports the bearish trend. Upside price momentum...
Shoprite SHP, 18083c Earnings due Tues, 07 Sept. The last two reports saw the share price rally then retrace. At current levels, we have had a strong run and technically I am expecting a consolidation following the move from ~15700c to the high of 18400c. It is also possible that the price 're-tests' the breakout level before continuing it's advance. Note the...