The Invicta Group consists of five operational segments, namely: 1. Replacement parts, Services, & Solutions: Industrial; 2. Replacement parts, Services & Solutions: Auto-agri; 3. Capital Equipment; 4. Replacement parts, Services & Solutions: Earthmoving equipment; and 5. Kian Ann Group. Christo Wiese (of Steinhoff fame) is the chairperson and owns a 37,57%...
- Price has pulled back to the breakout zone with some decent volume activity - Stock is trending up well , will remain bullish above the upsloping 50 day moving average -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Invicta has had a reaccumulation and after breaking R19 backed up to the trading range. We are now looking for a break of R22 for the next push higher. See posts below for the analysis following the trend up.
Invicta has moved up from the bottom of the downtrend which we followed - see link below. After breaking the downtrend some consolidation has taken place but after a spring and some volume the consolidation above the downtrend price has broken higher and we can accept that the downtrend has been broken and we are looking for a markup to higher prices.
Watch for a break of 1350 on volume for a 1670 and 1870 target. Wait for the break.
Invicta Holdings (R13.05) | The industrial group continues to trade positively over the medium term with the price moving having developed a cup and handle technical formation (best viewed on it's weekly chart) where a measured target of R21 to R24 comes into play. This chart forms part of a larger client note.
Invicta (IVT) vs JSE Mid Cap Index - A chart of IVT relative to the JSE Mid Cap Index the ratio chart reveals the price clearing it's 200-day moving average following the breakout of an inverse head and shoulder formation.
In this difficult market, we can look at some weak stocks and look for some pullback to the overbought line of a downward trend. Invicta is looking has found support at the oversold line and 50 day MA. Although generally weak is looking to push higher and test the overbought line and 200 day MA. There has been some significant movement this morning indicating some action.
Invicta has been undergoing distribution. After a break to the downside on signs of weakness (SoW), we have seen a backup (BU) to the TR. Now we are waiting for the markdown to continue.