THE SPAR GROUP LTD

JSE

SPP

JSE:SPP Testing support in 18000-18100 area. Break bellow will probably open 16500 as next target. With second target around 15000.

JSE:SPP is trading in a descending channel and has just bounced off of the top resistance level. We can expect a downward move towards the bottom of the channel or around 17780.

Triangle - Wait for B&C above Resistance Line

JSE:SPP broke out of the bottom of the 'buy box' consolidation area yesterday which normally means a signal to go short, but it seems like a hammer candle is forming which could mean a reversal, so I will remain cautious and only enter a short if it breaks the current low of today's price action.

JSE:SPP Bearish flag in making

Spar group might go down due to that double top!

Despite a positive reaction to its Trading update last week, gains only went as far as the incline resistance around R205 We have now ‘lost’ the 50dma; next is the 200dma which coincides with the horizontal support area around R188-R190. This is the area to watch for a move lower.

JSE:SPP Made massive inverting hammer on hourly chart today. Many traders rushed to buy yesterday after OK result. Good place to short in my book with SL =20300

JSE:SPP Very important level around 18800, if broken will open 16600 as target

The pattern gives us a very perfect confluence where the Head And Shoulder pattern formed right at the end of the impulsive 5 Waves up. We also have divergence on wave 3 and 5 confirming the trend correction.

We are expecting a little bit rise on spar stocks this week

A share's prior breakdown level often becomes a distribution zone once the level is re-test. Spar Group, which has rallied back to this level, is also testing it's downward trend line resistance while the last three sessions, by observation of the candle structure suggests 198/202 becoming a distribution zone. while the volume is starting to decline on this 4-day...

Key Drivers • Share price under pressure due to the deteriorating SA consumer environment. • From trading above R220 in March, we now trade near R170. • SPP is an SA retailer with rand hedge qualities (operates in UK and Europe). • Approaching technical support, with incline going back March 2014. • Testing prior breakout level. • RSI daily chart signals...

According to our Trading Desk analyst, Lester Davids, there is a "srong move out of the inverse H&S however we could encounter some resistance around the R212 level." Contact the Unum Trading Desk on tradingdesk@unum.co.za for more details.