Pick n Pay Stores seems to have built new support at R58. Looks like the price may hold above the R60 level in the short term. And the management team has made great changes which could help the stock build some solid momentum to the upside. JSE:PIK
We may derive the following from the Weekly PIK chart:
1. Price has bounced off the major support level (purple box). See previous linked idea.
2. Price is now testing the previous support levels (now resistance).
3. Monitor price action and wait for a clear opportunity.
4. As always - maintain your risk.
Note: The views provided herein do not constitute...
We may derive the following from the Weekly PIK chart:
1. Price has absolutely plummeted over the past few weeks.
2. Our last swing low level and major support is approaching.
3. Be weary of buying, but take note - a bid is likely.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
End of week 8Feb19. A week dominated by Resources. FTSE/JSE Allshare ( JSE:J203 ) Top5 oversold/overbought according to 14day RSI indicator as follow:
JSE:OMN 20
JSE:PIK 30
JSE:TON 31
JSE:DCP 31
JSE:VOD 32
JSE:LON 84
JSE:SGL 84
JSE:IMP 84
JSE:KIO 80
JSE:ARI 79
Spending a few minutes on one of the most oversold companies of the week...
PIK up 3.7% this morning after delivering a solid set of interim statemetns.
reported revenue for the H1 of R42.3bn(+6.4%)
Group turnover up 6.4%, with like-for-like turnover up 3.8%...
Volume growth of 3.5% and market share gains over six months...
1H gross profit margin 18.6% (18.6%) internal inflation held at 0.3% against CPI food of 3.5%...
1H trading...
