Like many other Businesses that were positively impacted by the Pandemic OCADO was clearly one of them .
This UK Stock is a must have in any portfolio, what the Internet done to Blockbuster is what
Ocado will do to the Supermarket eventually.
March 2020 OCADO begins to break out and establish a Bullish Trend and prints fresh ATHs during Sept,
followed by a 40 % retrace lasting until December 2020 and then a retest of the highs which took us to
the end of January 2021.
Since the retest of the highs in January we have been in a retrace which is very close to completion .
The pattern you see is the Deep Crab harmonic, with the area to buy clearly marked *PRZ Price Reversal Zone
I have marked out some potential take profits that you can expect to recieve upon completion of the Harmonic.
Swing Trade or Long term investment this Stock is a must have and truly is the Amazon of the supermarket industry.
Ocado Group is a publicly-traded company that develops software, robotics, and automation systems for online retailers. Ocado Group undertook an initial public offering on the London Stock Exchange on 21 July 2010, and is a member of the FTSE 100 Index.
Ocado Group was built upon its retail business in the UK, Ocado Retail Limited, which is a separate legal entity today. However, Ocado Group has evolved from a retail business to a technology company and it is claimed that it is valued more like the US technology company Amazon than its retail counterpart Tesco in the UK. On 21 November 2019, following the creation of a 50/50 joint venture company with retailer Marks & Spencer (Ocado Retail Limited), Ocado was no longer required to call itself a grocer by the Competition and Markets Authority.
Ocado Retail Limited (ORL) or Ocado.com is Ocado Group's British retail partner and an online supermarket that uses Ocado Group technology.
The Ocado Smart Platform is Ocado's hardware and software platform for operating retail businesses online. Clients include the following supermarket chains: Morrisons (UK); ICA (Sweden); Group Casino (France); Sobeys (Canada); Kroger (USA) and Bon Preu (Spain).
The Ocado Smart Platform (OSP) is the organisation's 'suite of solutions for operating online grocery businesses'. The platform supports retailers with webshop, mobile applications and voice ordering for their end consumers. Ocado Group's physical warehouses called “Customer Fulfillment Centres” (CFC) are also part of the smart platform along with the store pick technology that it sells to its partners. OSP also supports last mile technology which includes fleet management, routing and delivery planning.
Ocado Group claims that the platform was created at an “intersection between six disruptive technologies: AI, Robotics, Digital Twins, Cloud, Big Data, and IoT. Ocado Group’s proprietary technology is protected by over 200 patents.
I have been patiently waiting for OCDO to trade back down to the dynamic trendline support in order to add to my existing position.
Good luck to all!
SJTRADESFUTURES
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@InvestEmi, Yes I agree and think the same . On the grand scheme of things OCDO will do what the Internet done to Blockbuster . Good luck with your position
Yiadom00
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I read your comments with interest and judging by where OCDO stock is now, I wonder if you knew what on earth you were talking about then. Anything but the 'Amazon of the supermarket industry'. Clearly that was a joke and nothing to be taken serious. The past 6 months have proven that this stock belong to the dust bin of history and will be a blunder for any serious investor not to remove such security from their portfolio. Disappointing is an understatement. Please stop posting misleading and bogus forecasts. Did you make the said profit or you ve been had?
SJTRADESFUTURES
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@Yiadom00, Hey and thanks for sharing your opinion . My analysis was done on the 18 JUNE 2021 and the close that day was 1881 ! The close on Friday 9 SEPT was 1899.
The TA i have done clearly points to a potential Deep Harmonic Crab in which case that level has not been hit yet .
I can understand why you struggle to interpret this setup as it appears you only have been on TV for 1 month and have never posted a chart in that time .
Let me point out to you that the price of an underlying asset does not mean that it cannot be a leader within this area over the next 5 /10 years etc and its price does not have to demonstrate this !
if you followed the trends you would soon grasp as to what i mean when i make a reference to Amazon ....In fact in amazons early years im quite sure you would of dismissed that one too .
Dont tell me what to post ! If you dont like my work then you dont have to look at it .
As for the price you are aware it went up 200% since March 2020 and is now still correcting since Jan 21.
Sounds like you bought at the top and are a tad bitter ...either way the buy price I called has not come in yet ! Pay attention before you spew out a statement that demonstrates you dont understand what your looking at .
Yiadom00
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@SJ-Trades, Thanks for reply. You must realise by now that your strategy looks 'voodooish' regardless. Fact is OCDO company doesn't know what it represent anymore, sometime ago it was a 'cling on' Supper Market and now a 'wanna be' Software Tech Giant. Confusing? Not alone!
As for future prospects in 5/10 years? Time to visit the soothsayer for insight because it has broken through all the Fibonaci retracement support levels, defied all the Chaikin indicators and make your potential Deep Harmonic Crab look guesswork and heading in one direction only 'down the pan'. At this rate of fall the price you called reached in no time and passed, nothing left to hang onto. Await with baited breath! Good luck!
Good luck to all!