Clicks broke above the Inverse Head and Shoulders FINALLYInverse Head and Shoulders has been forming with Clicks since March 2023 as it was being formed.
We've seen the price making higher lows, breakout of its year downtrend, and things are now looking better for the bulls.
Other indicators confirm:
7>21>200
RSI>50
Target 1 will be quite extended and it could be a medium term hold but my first price is to R340.76
ABOUT THE COMPANY
Clicks Group is a retail-led healthcare group which has been listed on the JSE Limited (Johannesburg Stock Exchange) since 1996.
Clicks Group was established in 1968 in Cape Town, South Africa by entrepreneur, Jack Goldin.
Clicks was originally conceived as a drugstore concept in the style of American retailers such as Walgreens and CVS, but with legislation in South Africa at the time prohibiting corporate ownership of pharmacies, the model had to be adjusted to a variety retailer.
The first Clicks store was opened in St. Georges Street in Cape Town.
The "Clicks" name was apparently derived from the sound that the founder, Jack Goldin, heard from a clicking stethoscope, embodying the health focus he wanted for the company.
However, due to the existing legislation, the health focus was not immediately realized until later years.
The Group operates through multiple retail brands like Clicks, GNC, The Body Shop, Claire's, Musica (which you can't find anymore), and more, providing a wide array of products from health and beauty to homewares.
In 2003, Clicks was finally able to introduce pharmacies into their stores after South African legislation changed to allow corporate pharmacy ownership.
Clicks Group has the largest retail pharmacy chain in South Africa with over 500 in-store pharmacies.
