Nice move over the week as a result of it's trading update.
Possible fundamental re-rating underway.
Original idea attached, published at the top of last week.
An extract from my research note for Monday, 26 July.
Nampak (NPK, 219c)| NPK trades near the lower boundary of it’s linear regression and in line with it’s 50/61.8% Fibonacci retracement level. Note both the MACD and RSI have developed a bullish divergence. The share is considered higher risk however favoured on a weekly close above 227c, using a stop-loss of...
Increased volume is reading NPK for the break out above the yearly pivot point. We observed the underlying strength in the stock - see link below- but the increased volume could indicate the readiness for the stock to start the move.
Nampak has formed a long term (on the weekly timeframe) declining wedge that has been broken and the mark up has been started. We have seen above-normal volume on the stock, a break of the base that was formed since early 2020, signs of strength (SoS), backup (BU) to the trading range, markup and now a reaccumulation at the yearly pivot point. The volume indicates...
NPK to test resistance at 278
Balance sheet is looking good with current ratio 1.7252 and total assets 16.194B and total Liabilities at 8.309B. Revenue only down 23%
RSI suggests share is oversold.
NPK AGM at 9 Feb 2021, I suggest to buy at close range of support at 201 before this date.
- After the recent surge in price (trade update) , the stock has come back to a level where i would like to accumulate
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
JSE:NPK
- Massive move on the share yesterday after a trading update.
Investors who were accumulating on the 18th of September (big volume spike) must be smiling!
JSE:NPK
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
JSE:NPK is South Africa's leading diversified packaging manufacturer. As of basic knowledge due to lockdown regulations economic growth has been slower across the world. JSE:NPK also took a great loss due to this pandemic.
Fundamental positives :
- Gross Profit Margin : 30,34% ( Relatively Strong )
- Current Ratio : 1,36 ( They have enough current...
