$JSEPIK: Pick This Stock N You Will Pay....Dearly
I probably do more grocery shopping at PnP than at any other store but it is one food share I avoid at all cost for investing.
The share price performance over the last five or so years has been underwhelming and continues to do so.
The company released a trading update for the 43 weeks ended 25 December 2022 today and despite improvements in sales, Mr Market did not seem to like it by gapping lower at market open and the share is still under pressure.
Load shedding is also providing major headwinds with diesel generation costs sky rocketing as the electricity crisis worsens.
All that said and done though, the technical picture is not any better.
This is not the best trending stock with price action very choppy and generally sideways.
The lows of August 2020 and March 2022 provide a two touch point support trendline where I will be looking for price to react.
The Group plans to release its financial results for the 52 weeks ended 26 February 2023 (FY'2023) early in May 2023 and until then, I will sit on my hands on this one.
The share price performance over the last five or so years has been underwhelming and continues to do so.
The company released a trading update for the 43 weeks ended 25 December 2022 today and despite improvements in sales, Mr Market did not seem to like it by gapping lower at market open and the share is still under pressure.
Load shedding is also providing major headwinds with diesel generation costs sky rocketing as the electricity crisis worsens.
All that said and done though, the technical picture is not any better.
This is not the best trending stock with price action very choppy and generally sideways.
The lows of August 2020 and March 2022 provide a two touch point support trendline where I will be looking for price to react.
The Group plans to release its financial results for the 52 weeks ended 26 February 2023 (FY'2023) early in May 2023 and until then, I will sit on my hands on this one.
