We saw a major drop of 44% with Steinhoff to just 90cents and Its market capitalisation lost as much as R3bn in the fall from R6.9b yesterday Steinhoff is in troubled waters with a debt of R185 billion. There is a deal where if Shareholders will agree, they will end up owning 20% of the company. The Creditors will own the rest. The problem is the company...
BEARISH 4 Hour Box Formation - Consolidation Break below and target R1.00
JSE:SNH traded below R2 today. The end isn't near!
Price bouncing off support there. Buyers need to regain that incline resistance (around 340c), together with the 50dma just above it; to get this thing going again.
Needs to break the 380c-400c area to get going again!
Look who seems to be making a come-back - Steinhoff First target around R6.43 due to a Rounding Bottom
I am expecting price to give us a bit of a relive so that we can pump again
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
All decisions made on this trade are on the chart. This was a personal trade, and is simply equivalent to a trader's diary entry.
Let's see if things dead fish can get moving! Could be risky though...
This is an update of the chart posted on Feb 20, 2021. Price has risen 20% since the last post. Today the price fell to 220, which is just above the 50 MA, and bounced up to the close of 225. The lover trend line (blue) was not broken. Ichimoku is green and wide. The MAs are running parallel and up. These visual indicators confirm bullish sentiment. Near-term...
Battered Steinhoff looks like it is breaking out of consolidation. Near-term could see breaks above R4, R6, and then finally R9. Past R9 possibly to major resistance until R23-24. Keen to know what others think. Please leave a comment or link to your own ideas!
I know what you might be thinking... dont do it! Speculation in the media is that the rocket rise of Steinhoff is because of the GameStop saga. I doubt it as this has happened with Steinhoff before and it’s nothing special. Sooner or later the price should fall back down so i would not partake in this one. Looking at a day chart would reveal this rocket rise is...
Not much mention of Steinhoff, but it's horrific run continues and looks like share will continue to plummet if breaks through support at 82c. $JSESNH