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Capitec C&H ready to rumble to R1,853Cup and Handle has formed on Capitec's Daily chart. We've had a disappointing 12 months with banks and its downside. And today, the price opened above the Brim Level. This means, the buying and demand is more likely to take the price higher. Other indicators confirm: 7>21 - Bullish Price<200 But price is heading to the 200MA RSI>50 Target R1,853. SMC Sell SIde Liquidity Below the C&H. You can see previous wicks touching the Order Block and then the price rallying. That's Smart Money buying up and sweeping selling from retailers. Only concern is the current downtrend, which is still intact. We need the price to break above, for the confirmation to really get this going. ABOUT THE COMPANY Founded in 2001: Capitec Bank was founded on 1 March 2001 and has its headquarters in Stellenbosch, South Africa. Retail Focus: The bank primarily focuses on providing retail banking services, such as savings, payments, and lending products. Innovative Business Model: Capitec was one of the first banks in South Africa to operate on a branch-based model rather than using separate branches for personal and business banking. Digital Banking: Capitec offers innovative digital banking services, including internet banking and a mobile banking app, which has won several awards. Affordable Fees: Capitec is known for its relatively low banking fees compared to other South African banks, which has contributed to its popularity. Unsecured Loans: Capitec was one of the first banks in South Africa to offer large, unsecured loans.
JSE:CPILong
by Timonrosso
Capitec showing strong upside since break in downtrend to R2040Cup and Handle formed on Capitec since it broke above the Downtrend. Now that the price is above the brim level shows strong momentum up. Indicators also confirm upside 7>21 Price<200 but moving back to it's elastic equilibrium level RSI>50 Target R2040.00 ABOUT THE COMPANY Capitec was founded in 2001 and is headquartered in Stellenbosch, South Africa. The bank has over 15 million clients as of 2023, making it the third-largest bank in South Africa by number of customers. Capitec offers a range of banking products, including savings accounts, personal loans, credit cards, and insurance. The bank is known for its simplified and transparent fee structure, which includes low transaction fees and no hidden costs. Capitec uses advanced technology to provide its customers with a seamless and convenient banking experience. The bank has a mobile app that allows customers to manage their accounts, transfer funds, and pay bills.
JSE:CPILong
by Timonrosso
Capitec showing strong downside to come to R1,528Inverse Cup and Handle formed on Capitec and the price has just been on a strong downside trend for the last year. We had a break below the brim level with indicators showing strong negative divergences. 200>21>7 RSI>50 - Mixed Target R1,528 ABOUT THE COMPANY Capitec is a South African retail bank that was founded in 2001 and is headquartered in Stellenbosch, Western Cape. The bank has been recognized as one of the fastest-growing retail banks in the world, with over 16 million customers as of 2021. The bank offers a range of low-cost products and services, including savings accounts, loans, and insurance. In 2017, Capitec was named the best bank in the world by the Lafferty Global Awards, which recognized the bank's focus on customer service and its commitment to financial inclusion. The bank has a market capitalization of over ZAR 200 billion as of March 2023.
JSE:CPIShort
by Timonrosso
My thinking is Capitec is getting ready to leave the station. Capitec has been sitting on the bench at the station for a long time in its bull flag formation. Parhaps a close above 140 would mean its ready to buy its tickets and leave on the long road? * Weekly - Stochastic has short period crossing, as well as MACD * Daily - Just Just touching the trend line - first real break attempt (Don't know if we need a little more oomph to pull it off)? - MACD Already crossed - yet in the negative half still - Stochastic is moving up. I would wait for a clear breakout. Please, guys - this is my very first idea, please comment and help with the analysis - as I'm still very new at this! Would love to hear your thoughts? B
JSE:CPILong
by BabyTrader36
Swing Trade: Capitec BankCapitec JSE:CPI might also bounce off the bottom of a 100-day regression channel, having just touched a recent horizontal support line. The Stochastic indicator signalled a trend reversal on 26 February 2021 by crossing up through the slow line from a low base, but the RSI still has to make its way through the 50's I am also still waiting for the MACD to confirm by crossing above the signal line. Entry for me would be a positive close somewhere above R1370, with a price target of R1497 but with some expected resistance at the R1457 range. Longer term target would be R1614 with an exit when it falls below R1310. Reward: 17.84% Risk: 4.38% Ratio: 4.07
JSE:CPILong
by jeanterblanche
JSE:CPI Capitec Re-accumulation or DistributionAfter breaking the upward stride and going overbought Capitec is now consolidating. It is busy breaking back into the trend channel. After a buying climax (BC), automatic reaction (AR) and secondary test (ST) in phase A we now have seen an upthrust (UT) in phase B. This is showing some strength but was on low volume and divergence with the volume RSI. Now to watch how the TR develops to see if it is a distribution or re-accumulation. For now, I am expecting the price to range for some time.
JSE:CPI
by SteynTrade
History Often Repeats Itself. Down First, Then UpEstablished in 2001, Capitec has become South Africa’s fastest growing bank, and today has more than 7.3 million clients, 720 branches and over 11 000 employees. With shares listed for sale on the Johannesburg Stock Exchange (JSE) in 2002, the bank is renowned for its affordability and simplified model of banking, which has received superb buy in from clients of all income levels. Capitec already commands more than 20% of South Africa’s banking market share and has a market cap of almost R70 billion. Technicals I am expecting a repeat of the previous formation. All to often, support and resistance traders get caught buying when the highs break and selling when the lows break, only to watch the price turn and run against them. History often repeats itself and if you have a careful look at these two areas on the chart, you will see a lot of similarities. The structure that will form here is likely to break to the upside eventually but I expect a reversal soon for wave 3 before more upside will come.
JSE:CPIShort
by Linton_White