W Formation is forming on Mr Price. It's been in a consolidation range since March, which prior that was in a continuous downtrend since April 2022. Now the price has broken above the downtrend, which is currently testing the support. And if it breaks above and through the neckline, we will see upside to come for the retail giant. This also falls in line with...
Mr Price has been in a lingering downtrend channel since March 2022. It's been a trading haven for range bounded traders who look for this kind of activity. However for a breakout trader, it's been a waiting game. So best we buy at the bottom of the range sell at the top and repeat. Right now the price is heading back to R153.25. If we get a breakout, we'll...
JSE:MRP is showing good upward momentum and has triggered our long trade. Our target lines up nicely with the support/resistance level at 160
JSE:WHL broke below another distribution level. Overall, JSE retailers are under pressure for various reasons; load-shedding and some justt poor managemenent decisions. How low can it go? Note that JSE:CLS and JSE:MRP are also weak.
Break above downtrend has occurred for the first time since 2022... This isn't a breakout pattern that I normally look at, but it's still a breakout move. Price<200MA (elastic) This means, the price has a likelihood of moving up to the 200MA (Equilibrium) to take out the inefficiency. Target R177.42 BREAKAWAY GAP formed in December, and since then the price has...
Inv Cup and Handle formed on Mr Price. The price broke below the brim level and is showing downside momentum. There is a previous support that still needs to break before all systems go, but my signal definitely gives a sell here. Indicators all look bearish 200 > 21 >7 MA RSI <50 - Bearish divergence Target R133.00 ABOUT The company Mr Price was founded...
MRP shares might be locked in a bearish range (lengthened dips relative to rallies). A move towards formation of a lower lower as shown is quite possible.
MR Price is potentially forming a W Formation. THe RSI is making higher lows and has broken the downtrend - Bullish momentum. The target could be R240... CONCERNS: The downtrend is still evident with a downtrend line dominating and negative Moving Averages. If the price turns up things will look brighter.
JSE:MRP has triggered a short position. This is based on the stochastic turning down through the 80 line, the MACD going into the negative and the crossing downwards of the two EMAs. We have placed our target down at the 166 level which coincides with the lows of mid July.
All of our 3 momentum indicators have crossed down on JSE:MRP , signaling a possible short position. With today's opening, we were triggered into our short position with our target matching up nicely with the lows of mid July at the 165 level.
With yesterday's upward move JSE:MRP has broken through the top of a symmetrical triangle chart pattern. Today's move seems to be confirming the break so far. If it breaks above the fractal from the 21st of May, I will consider a long position.
JSE:MRP has entered into a gap that was formed on 21 November. As we all know, the market likes to close gaps, so we could see a small downward move towards gap close.
JSE:MRP has been consolidating in a sideways trend or "buy-box" since late last month. With today's price movement so far, it has broken out of the box as well as a fractal level from the 17th of October. If it closes above and confirms after today, I will look at entering a long position.
JSE:MRP is heading towards the bottom of a channel that it has been trading in. If it breaks through the bottom, I will consider a short position. Conversely, if it decides to bounce off the bottom of the channel, I will wait until it breaks above the high of today before potentially entering a long position heading towards the top of the channel.
JSE:MRP has broken through a descending resistance, but it might struggle at the resistance level around 20000. If it breaks through this level convincingly, I will consider a long position.
Since August last year, Mr Price continually found support at R205. In March, the stock broke through support but recovered back to R224.54 in May. This is a currency sensitive share and the rand blowout has now pulled the price back through the previous support. The current downtrend is gaining momentum and making me very pessimistic. The MACD is also trading...
JSE:MRP is once again showing a bearish engulfing candle pattern, but this time, it is also coinciding with a triple top resistance level. The last bearish engulfing didn't play out, but because of the strong resistance, this one is more likely to.