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.
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.
