Strong Down Channel continues with Purple Group.
There are no breakout patterns and now strong supports until we reach 40c and then 30c.
This is a no buying zone, despite how attractive the discounted value is.
End of the day, we need to wait for the break above the down channel, before bullishness shows.
Other indicators confirm downside momentum...
There has been a strong downtrend channel with Purple Group.
And if we follow the movement the next price target is to 75 cents...
No matter what the company does the price continues to drop.
It might be because it is a Penny Stock which is never seemed deemed as valuable to shareholders as blue chips.
There may be hidden issues within the books, micro and...
JSE:PPE just released unaudited results; the stock took a bit of (continuous) hammering. Previously, we anticipated R1.10 as the potential support level, the stock is currently trading at that level. Technically, it's a zone to pay attention to, in anticipation of a breakdown or for buyers to step up and push the price up. This week, it'll be a combination of the...
Rectangle box has formed and the price has broken below the support.
Moving averages - 200>21> 7 - Bearish
RSI<50 <30 - Bearish
Target 125c
FACTS
Limited is a financial services and technology group incorporated in South Africa, offering online trading, investing, asset management.
A couple of famous brands include Easy Equities, Easy Properties, Easy Cryptos,...
Purple Group's share price has been consolidating for a few weeks now, and seems to be forming an ascending triangle - higher lows.
Its has also formed a bullish pennant. This is the perfect time to be accumulating before it moves higher.
I expect the stock to break out of the trading range within the next two weeks.
R1.40s - accumulate
1st support line is...
JSE:PPE had a nice upward rally at the beginning of June followed by a slightly downward consolidation period. Because of these moves, we have seen the formation of a bullish flag pattern. A bullish flag is a continuation pattern, therefore the expectation is that the price will continue upwards once the breakout has happened. So far this morning a breakout has...
