Super Group, an expansive international logistics entity, specializes in providing transportation solutions to the industrial sector. The company's strategic decision to not distribute dividends but instead focus on share buybacks and investments in both organic and acquisitive growth has underscored its financial and operational strategy. This approach, coupled...
Super Group (SPG) is a large international logistics group offering transportation to the industrial sector. The company has a policy of not paying dividends, preferring to undertake share buy-backs and investing in organic and acquisitive growth. Its policy of diversifying outside South Africa has paid off with as much as 51% of operating profit now coming from...
Super Group had a super run from April 2020 to September 2021, tripling in price.
The highs of the 3700 region have been retested three times and the bulls have failed to move price higher.
The last retest in late February 2023 has already pulled back significantly.
Price has also found support at the 2445 region.
The larger consolidation structure looks like a...
- Supergroup has returned to test the 200day moving average after a successful break of the falling wedge .
- Currently looking for the bull flag to play out to R35.50 zone
- Bulls will need to hold above the 50 day moving average now around R29.00
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
If...
SPG formed a reversal candle of support. A break of that candles high will be bullish. Possible jump to its 50DMA can be a target.
Trade ideas are my own and not financial advice.
- MACD bull cross RSI
- RSI attempting recovery
- 8-day EMA starting to turn up
- Candle structure improving - much more green vs red candles
- Building a base. Above 2550 is positive.
Having recently traded in a downward channel, SPG is nearing it's 8-November swing low, creating an opportunity to take a swing long at roughly the 2500c to 2545c zone. Traders could initially build a position at aforementioned level, while using a break of the channel to add to the position. Stop-loss: 2315c. Take Profit Target: 2780c.
*This note is part of...
Supergroup's (JSE:SPG) downtrend is still in tact and together with hidden bearish divergence and a bearish engulfing candle it gives a 2:1 reward to risk trade if you can get it around these levels: short at 28.30, stop at 29.30 and profit target 26.30.
