Cashbuild about to crash to R100.00Right now it's anyone's guess.
The market has been so illiquid with low volatility, that the only signs are pointing are down.
Box Formation (but not a strong one as three supports and resistances have not touched).
However, there is a range bounded movement with lower highs and very little confirmation of upside.
It needs to break out of the downtrend before we look to any potential longs.
Price<200 - BEarish
RSI - lower highs - But classical range for RSI with low moving stocks.
Target 1 will be to R100
Low probability trade
ABOUT THE COMPANY
Cashbuild is a South African retail company specializing in building materials and related products.
Cashbuild was founded in 1978. Its first store was located in Pretoria West, South Africa.
The company operates in the southern African region, including countries like South Africa, Namibia, Lesotho, Botswana, Swaziland, Malawi, and Zambia.
Cashbuild operates over 260 stores across the regions it serves.
The company follows a business model where they operate in both urban and rural areas, especially in the lower-income regions.
This business model allows the company to reach and serve customers who might not have access to such stores otherwise.
Cashbuild is known for being a one-stop-shop for a wide range of high-quality building materials, like cement, bricks, paint, timber, plumbing, and sanitaryware, at affordable prices.
