SchalkLouw
Long

Top5 oversold/overbought according to RSI & $JSEPIK

JSE:PIK   PICK N PAY STORES LTD
End of week 8Feb19. A week dominated by Resources. FTSE/JSE Allshare ( JSE:J203 ) Top5 oversold/overbought according to 14day RSI indicator as follow:

JSE:OMN 20
JSE:PIK 30
JSE:TON 31
JSE:DCP 31
JSE:VOD 32

JSE:LON 84
JSE:SGL 84
JSE:IMP 84
JSE:KIO 80
JSE:ARI 79

Spending a few minutes on one of the most oversold companies of the week (according to RSI ), namely.

Technically if the bottom range hold, R67.50 seems likely, with the 50-day moving average as next target.

The company joined other SA Retailers, with some serious selling pressure, as the sluggish local economy hitting most consumers in the final quarter of 2018. Fundamentally the company don’t look too bad though and might just justify a short-term stab:

$JSEPIK Intl Emerging Market Peers
Forward PE 17.87 23.06
Forward PEG 0.97 1.84
Forward EV/EBITDA 9.01 13.10

Personally, I still prefer JSE:SHP in this sector. Just tick a few more boxes for now.



Trade active: First target reached and breached - R67.50.
Trade active
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