Shoprite, Africa's largest grocery retailer and consumer goods company, has navigated intense competitive pressures in the market, which has historically prevented supermarkets from significantly marking up prices due to price competition. The company's share price experienced a significant dip, falling from a high of R275 in March 2018 to around R100 in July...
A price action above 25100 supports a bullish trend direction.
Further bullish confirmation for a break above 25800.
The target price is set at 26800 (its 23.6% Fibonacci retracement level).
The stop-loss price is set at 24100 (its 78.6% retracement level).
Testing its 200-day simple moving average, which might act as major support.
Shoprite Holdings Limited, as Africa's preeminent grocery retailer and consumer goods company, has exhibited remarkable resilience and strategic acumen in navigating the complex landscape of the African retail sector. Despite the challenges posed by intense price competition, which has restricted the ability of supermarkets to pass on price increases to consumers,...
Shoprite Holdings Limited, as Africa's preeminent grocery retailer and consumer goods company, has exhibited remarkable resilience and strategic acumen in navigating the complex landscape of the African retail sector. Despite the challenges posed by intense price competition, which has restricted the ability of supermarkets to pass on price increases to consumers,...
Shoprite Holdings Limited (SHP), recognized as Africa's largest grocery retailer and consumer goods company, has navigated a complex retail environment marked by intense price competition that has historically constrained supermarkets from passing on price increases to consumers. Despite experiencing a significant downturn in its share price from a high of R275 in...
Shoprite (SHP) is the largest grocery retailer and consumer goods company in Africa. Intense price competition has prevented supermarkets from passing on price increases to consumers. The share price was hammered down from a high of R275 in March 2018 to levels around R100 in July 2020 but has since recovered strongly. We expect it to benefit directly from any...
Shoprite
Flagging the Bulls: Breaking Out from a Falling Flag Formation!
1.Price Formation: The price has broken out from a falling flag price formation on a daily chart.
2.Moving Averages: The 7-day moving average (MA) is above the 21-day MA, which is a positive sign indicating bullish momentum.
3.200-day Moving Average is below the Price.
4.Thus, Mas...
Shoprite Holdings (SHP). While SHP remains a sector leader over the long term, it may be worthwhile bearing mind the technical chart which, at present, reflects a bearish divergence as per it's 14-WEEK RELATIVE STRENGTH INDEX (RSI). This is where the price prints a higher high while the technical indicator develops a lower high. This is often a precursor to...
Shoprite (SHP) is the largest grocery retailer and consumer goods company in Africa. Intense price competition has prevented supermarkets from passing on price increases to consumers. The share price was hammered down from a high of R275 in March 2018 to levels around R100 in July 2020 but has since recovered strongly. We expect it to benefit directly from any...
A price action above 23600 supports a bullish trend direction.
Increase long exposure for a break above 24600, that is also the 23.6% Fibonacci retracement level.
The target price is set at 25400.
The stop-loss is set at 23200.
Remains above its 200-day simple moving average.
A base forming pattern might be applicable, supporting upside price momentum.
See link below for previous analysis.
Shoprite had a strong 39% five wave rally from the May low of 19165 to 26659.
This strong rally had very shallow dips which showed the underlying strength and momentum in the stock.
From 26659 to 23330, the stock has made a textbook -12.5% three wave zigzag correction which is the biggest dip from the May low. This pullback...
An extract from my research for tomorrow (Monday, 09 October 2023)
Shoprite, Breaking Down Relative To The Broader Market (JSE Top 40 Index as a proxy). The upward trend extending back to the low of 22 May is being breached.
On this platform (see attached, 28 August at R262) I previously published my view on SHP, highlighting the potential resistance at the...
Shoprite (SHP) is the largest grocery retailer and consumer goods company in Africa. Intense price competition has prevented supermarkets from passing on price increases to consumers. The share price was hammered down from a high of R275 in March 2018 to levels around R100 in July 2020 but has since recovered strongly. We expect it to benefit directly from any...
Shoprite (SHP) Further Update. I discussed the share on Monday as well as on Friday 25 August, with my comments centering around the fundamental valuation and technical positioning. I also published my view on this platform last week Monday 28 August (see attached post). At 23x earnings (p/e ratio) and a 9% increase in headline earnings per share, the mismatch of...
Shoprite is finding little buyers as price nears all-time high, we can see volume dropping as price pushes higher. On indicators, worrying signs are beginning to develop:
1. TSI & RSI are putting negative divergence.
2. The RSI is showing overbought and beginning to turn.
This is not an ideal place for one to go long, we need the indicators to reset which is...
Shoprite price action favours a bearish turn, for the following reasons:
1. The R250 area is strong resistance, many bulls were trapped here in 2018, they will want out.
2. It is late in the weekly cycle so price must find its way to the bottom, for we expect price to go below R223.36 at least.
3. The pink downward slopping trendline is adding to the gravity...
Shoprite Holdings (SHP). Fundamental Valuation: At 23x Earnings, It's Expensive, But Not Excessive. Considering the quality of the business/management and the fact that it's continuing the grow it's market share, the share deserves it's premium fundamental rating. That being said, the technical reward-to-risk has become less and less appealing for the short term...
Target reached R257.66 from the Inverse Head and Shoulders we pin pointed in July.
The price broke above the neckline and out of the medium downtrend.
We followed the textbook way, and the price shot to the target at R257.66.
It can continue higher. Or it can consolidate.
But either way, we need to wait for the next setup.
