Outperforming it's peers , not only has Capitec printed new highs but is also approaching historical forward PE highs. Valuations are getting stretched. Ahead of , the price does seem to be finding some resistance at very overbought levels. For the life of me, I can't understand the current price and can't fathom where investors see value at current levels. Maybe reality kicks in after and sanity prevails. There is some technical support at R2200 but I wouldn't be surprised to see it much lower. So if you can find some scrip, pay the premium and short these insane levels. First target R2200.00.
Trade closed: target reached: In fact, Target exceeded !