My long term trading idea for patient penny stock traders
#Steinhoff - buy / long via a limit order
Buy price: 0.0555 EUR
Target: 0.3000 EUR (+440%)
Stop: 0.0193 EUR
Steinhoff in free fall. The stock remains speculative until the retail group becomes profitable again on a long-term basis. Steinhoff has already made significant progress in its turnaround and...
Back in December 2017 the share price of this huge conglomerate of retail stores crashed. I posted about it in April 2018. Not sure if many people are interested (and this is one more reason why this is good, few people were interested when Gamestop was trading at $3, many were when it was at $300).
The direction got accused of fraud and for some magical reason...
HIGH RISK TRADE!
Target: 2.7976 EUR (+1100% profit)
Stop: 0.0794 EUR
Steinhoff International Holdings N.V. specializes in the retail trade.Sales are distributed among the various business segments as follows:
- Retail (97.9%);
- Financial services (1.8%);
- Other (0.3%).
The geographic distribution of sales is as follows: South Africa...
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€
This is an update of the chart posted on Feb 20, 2021. Price has risen 20% since the last post. Today the price fell to 220, which is just above the 50 MA, and bounced up to the close of 225. The lover trend line (blue) was not broken. Ichimoku is green and wide. The MAs are running parallel and up. These visual indicators confirm bullish sentiment. Near-term...
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
People at the head of the company been accused of fraud? Irrelevant.
All I see is a multi billion conglomerate that got panic sold and still is functionning as it was before.
No one is interested in this, it got abandonned. Yet, they're still the same nothing has changed.
People only care about something when (after) it goes up and there's no FUD around it.