The price action for the shares of beauty and pharma retailer Clicks has, in my view, been uninspiring. Despite trading near all time highs, it appears that there are pretty aggressive seller capping gains around the 217 to 218 level. That is to be understood considering the fundamental valuation which sees the share command a 33 price-to-earnings ratio, which is significantly elevated and, doesn't leave any room for negative surprises. Based on the price action and technical factors while being supported by fundamental factors, traders could look to short/sell the share. Please see the trading levels below:
Trading Plan:
Sell/Short CLS at 21600 or higher
Use a stop-loss of 22100c to protect capital
Take profit at or near 20650c
Trading Plan:
Sell/Short CLS at 21600 or higher
Use a stop-loss of 22100c to protect capital
Take profit at or near 20650c
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.