See link below for previous analysis.
Oceana traded bullishly as previously forecasted.
The stock has found resistance at the Double Bottom Neckline zone between 7450 to 7990 cps.
Price has consolidated at this range which indicates that the bulls do not want to give the initiative.
A clear break beyond 8000cps, preferably on high volume, will validate the...
Oceana Group, Southern Africa’s largest fishing business, holds a prominent position in the industry with a significant presence not only locally but also in the United States through its subsidiary, Daybrook Fishing. The company's broad product range includes canned fish, fish meal, fish oil, hake, mackerel, lobster, and squid. Oceana is dual-listed on the...
Oceana (OCE) is Southern Africa's largest fishing business which also has significant fishing interests in the US through its Louisiana-based subsidiary Daybrook Fishing. It is listed on both the JSE and the Namibian stock exchange. The company produces canned fish, fish meal, fish oil, hake, and mackerel as well as lobster and squid. It is subject to quotas which...
Since our last Trade Update with Oceana, the market is still on track to R76.00.
The Quazimodo Inv Head and Shoulders seems to be working, but taking its damn time.
Also we have stronger bullish confirmation signals like
7>21
Price >200
RSI >50
All great signals for upside momentum
Here's general information about Oceana.
Oceana (founded in 1887 and...
I call this a Quazimodo INV H and S> it's because it's an unattractive pattern which isn't the greatest setup for traders when it comes to probabilities.
It's been in a sideways movement since 2 December 2021 fluctuating between a range.
Moving averages look good though 7>21>200 and RSI above 50 and making higher lows.
The first target is R76.00
Oceana just released a good set of FYE 30.09.2022 results, the salient results are
• Revenue: +12% to R8,148m (2021: R7,296m);
• Operating profit before other operating items: +11% to R1,250m;
• Profit before tax: +14% to R1,064m
• EPS: +16% to 622.9cps;
• HEPS: +17% to 626.0cps;
Cash Flow & Financial Position
• Cash Generated From Operations: (33%)...
Instrumentis in a downward trend and has retraced back to a significant Fibonacci level. Also possible cup and saucer forming, and will start playing when that breaks to the top
This chart is part of a larger report and should only be considered within a well-diversified portfolio.
- Pending upside break.
- Add on a close above 7300c
- Temporary failure below 6600c
- Target Range 8100c to 8400c
*Manage your own risk*
Recently, the group reported a strong set of results of with Revenue + 9% to R8 308 million, Operating profit up 21% to R1 399 million, Operating profit Africa operations up 22% to R975 million, Headline Earnings Per Share +15% to 628.4 cents while cash generated from operations improved to just over 2bn. Total dividends of 393 cents per share were paid. Driving...
Someone seems to be buying Oceana stock every time it drops below R70 since the Q1 results. Volume has remained high since then but some increased volume is again seen last week. Once the accumulation is complete we can expect prices to rise. One to watch.
