Price has finally broken above the Downtrend since November 2022.
Also the price formed a Scallop formation, which has broken up and out of.
Momentum is pointing up.
Other indicators confirm.
7>21
RSI>50
Target R20.10
ABOUT THE COMPANY
~ JSEPPH Pepkor Holdings is a South African-based investment holding company that operates in the retail sector.
~ Pepkor...
JSE:PPH new 52-week low after slicing below the distribution level at R17-ish. Retailers can't seem to catch a break these days. Steinhoff or load shedding?
JSE:PPH is barely hanging onto the potential support level, if it doesn't hold things can get worse for the stock. Other than that JSE:SNH is still catching strays.
The Pepkor Large Head and shoulders broke below the neckline and showed serious selling.
The trade has been a long hold but definitely worth it.
For 1, the price is moving down constantly - without any worry
2. We are making profits daily because of Short Interest income.
So I'm happy to hold the short to R16.00 or so.
On the SMC side (Smart Money Concepts)...
Head and Shoulders formed on Pepkor a few days ago.
The price broke below the neckline accompanying with other bearish signals.
200 >21>7 MA- Bearish
RSI<50 - Bearish divergence with lower highs
Target R16.38
ABOUT THE COMPANY
Pepkor was founded in 1965 by Renier van Rooyen and his wife, Elsie.
The company started as a small clothing store in Cape Town,...
JSE:PPH is now trading below the (badly drawn) support level, if the stock close below this level by the end of the week we might see it touch R16.50-ish.
No position.
A bearish engulfing, which is a top reversal signal, has formed on JSE:PPH . It also looks like the stochastic and MCD and stochastic are about to signal a short very soon too.
We are looking for a downward move all the way to the target at around the 21.25 level.
A short position has been triggered on JSE:PPH signaled by the bearish engulfing formed last Friday. Looking to reach a target at the low reached on 26 May 2021.
This market is range-bound and might not be wise to trade. However, we can make much use of the support and resistance theory since price has already broken the 1920 previous resistance-turned support level and is probably heading towards the major 2160 psychological price level. Remember that there is a psychological aspect to round numbers especially when...
Pepkor Holdings Ltd. is a diversified retail group that has a significant footprint in Africa that is listed on the Johannesburg Stock Exchange. With over 5100 stores in 12 countries, Pepkor is truly a retail giant in Africa. The group has 17 store brands over the retail industry, ranging from affordable quality clothing outlets to high-class furniture outlets....
