We saw a major drop of 44% with Steinhoff to just 90cents and Its market capitalisation lost as much as R3bn in the fall from R6.9b yesterday Steinhoff is in troubled waters with a debt of R185 billion. There is a deal where if Shareholders will agree, they will end up owning 20% of the company. The Creditors will own the rest. The problem is the company...
BEARISH 4 Hour Box Formation - Consolidation Break below and target R1.00
I am expecting price to give us a bit of a relive so that we can pump again
Steinhoff is in the process of forming a Cup and Handle formation, I expect a setback to the 23 retracement line and then an increase to up to 0.1564 € Steinhoff ist dabei eine Cup and Handle formation zu bilden, ich rechne mit einem rücksetzer auf die 23 retracement linie und dann mit einem anstieg auf bis zu 0.1564€
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Is STEINHOFF trying to recover? Is this the best price we will see in a long time? Testing some price action ideas. Testing. Wait for the new monthly pivot, watch what price does on lower time frames, be cautious. Price can do anything. Beware the anchor.
RSI shows a bull div we are near double bottom uptrend could now go slower, patience is key; at least i am looking for Christmas business that Steinhoff gets new, good figures no trading advice - my own opinion
BUY SNH WHILE ITS CHEAP - LATE DECEMBER / BEGINNING OF JAN looks like some bullish momentum is on its way
Breakout its longterm bear trend and lets see if support 22.40 can hold to keep up the momentum