Shoprite SHP, 18083c
Earnings due Tues, 07 Sept. The last two reports saw the share price rally then retrace. At current levels, we have had a strong run and technically I am expecting a consolidation following the move from ~15700c to the high of 18400c. It is also possible that the price 're-tests' the breakout level before continuing it's advance. Note the MACD nearing a negative crossover, similar to the ones seen in Sept-2020 and April-2021. Technically, fresh buying preferred sub-16800c.
Most recent trading long at ~R158 and portfolio long at just above R100 in July 2020.
For more insights, real-time ideas or a deeper technical review of your current holdings , get in touch today.
Earnings due Tues, 07 Sept. The last two reports saw the share price rally then retrace. At current levels, we have had a strong run and technically I am expecting a consolidation following the move from ~15700c to the high of 18400c. It is also possible that the price 're-tests' the breakout level before continuing it's advance. Note the MACD nearing a negative crossover, similar to the ones seen in Sept-2020 and April-2021. Technically, fresh buying preferred sub-16800c.
Most recent trading long at ~R158 and portfolio long at just above R100 in July 2020.
For more insights, real-time ideas or a deeper technical review of your current holdings , get in touch today.