BrendanKZN

Shoprite Holdings LTD - Discount, Discount

Long
JSE:SHP   SHOPRITE HOLDINGS LTD
"Volume Weighted Average Price ( VWAP ) is the ratio of the value traded to total volume traded over a particular time horizon. It is a measure of the average price at which a stock is traded over the trading horizon." Wikipedia. (Blue Lines).

I use a rule of thumb, never buy/long above vwap and never sell/short bellow vwap . Technically we are below the higher timeframe vwap's but we want the best price we can get on lower timeframes IF a reversal happens here, so we risk a trade setup finding undervalued prices at certain levels.

This could potentially lead into a nice long term trade. Just use risk management and watch for that area in yellow circle. After that, you don't want to be in the trade anymore.
Let's see!

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