The stock jump to the higher mox with a Gap and drive pattern. closing the day at R177.22 my risk now is +2.43% I will add to my position tomorow then wait for R179.95 Risk before entry: +2.43%
From our Thursday 29 July morning note, the target has been hit. For short term traders, this would be a level to exit. For more short, medium and long term ideas, get in touch today for a brief discussion.
Weekly chart. The stock formed a nice base at the COVID-19 crash. Shoprite is arguably the strongest retailer in our market. Nice ascending triangle pattern staying on the right side of the 200 week EMA. I’m watching the R162 level quite closely. Daily chart A slightly faster paced ascending triangle pattern forming on Shoprite. I’m waiting for a break...
Classic Cup and handle pattern. with 2/3rd retracement Cup. With a neck line 16200c
Another flag in the making for SHP. A break above R155 triggers the idea with a close below R150 as a stop loss while full target is at R162
Took off most of this position, letting the rest ride on an ATRx2 trailing stop.
On a relative basis, it appears as if consumer discretionary is being sold off while consumer staples are being bid (see 24/05 pair long VOD/short TFG). Third wave theme still relevant? I continue to favour Shoprite (SHP) and we could pair that with a short on Woolworths (WHL). On this basis, we employ a market neutral strategy. Trade Levels: Current (Ratio:...
You've got to pump it up! Shoppies to the moon! Well, to target for now will good thanks.
A close above R148 will trigger the long idea. First target at R152 and full target at R160. Stop loss a close below R145
Shoprite finally comes tot he party after results
Waiting for SHP to possibly trade down into the 14000 - 14300 area to go long. Long trigger will be a clear hourly reversal in this area. Looking for a move into the 15300 - 15850 area.
Could shoprite be flagging for another leg higher? That's a R30 bull flag should it materialize.
JSE:SHP is showing some good downward momentum and we could be looking at a short position. It is currently at a bit of a support level, but if it breaks through, I think we are good to go. The stochastic, MACD and EMAs are all confirming this move.
SHP looking interesting. It is pulling back what looks like a possible bull flag. Recent gap and 50dma around the same level. I will look for a reversal in that area for a bounce.
A chart from my weekly research report. Message me for full trade details, including whether it's long or short.
After the bull flag break at around the 13800 the flag was tested twice. The last test was around the 13100 level before a very powerful move to the first target of 16083. That level has now been reached. A second target for this flag pattern around the 16750 level remains.