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I hope I'm wrong with Spar going to R52.78There is an Inv C&H that's formed on the monthly chart with Spar. It's been coming down since April 2016 where it just couldn't break above R225.00. Since then we've seen supply (selling) strong than buying. And now with the price breaking below the Inv C&H, shows downside to come. I hope I'm wrong with this one and they do something miraculous to pick up the price. 21>7 Price<200 Target R52.78 ABOUT THE COMPANY ~ The SPAR Group is a leading South African retail chain that operates in the grocery and convenience store sector. ~ SPAR Group South Africa is part of the international SPAR Group, which originated in the Netherlands in 1932 and has since grown into a global network of independent retailers. (There is even Spars in Greece - SPAR HEllas) In South Africa, SPAR operates under various store formats, including SPAR, SUPERSPAR, TOPS at SPAR, and SPAR Express. Each format caters to different customer needs and market segments. SPAR Group South Africa has a strong presence nationwide, with stores located in urban areas, townships, and rural regions. HOW IT GOT ITS NAME "SPAR" originated from the initials of the founding Dutch company's slogan, which was "Door Eendrachtig Samenwerken Profiteren Allen Regelmatig" (English translation: "Through united cooperation, everyone regularly benefits"). The first letters of each word spell out "SPAR."
JSE:SPPShort
by Timonrosso
UPDATE Spar hit the target price R103.61 after a 15% crash!Inverse Cup and Handle formed on Spar and price broke below the brim level. This sparked fear and lead to a ton of selling and supply. We had other indicators confirm for the downside to come. 200>21>7 RSI<30 And yesterday, the price went down 15% striking right through the target at R103.61. Smart Money Concepts Above the handle, formed a Buy Side Liquidity Order Block. This is where Smart Money came and swept buying orders and sold into them, which caused the crash. And it looks like Spar wants to drop even further! But I'll let you know.
JSE:SPPShort
by Timonrosso
1
Spar just broke below and it's BAD! Target R103.61Inverse Cup and Handle has formed over the last month for the retail giant. The price yesterday broke below the Brim level. This makes it bearish for downside to come. 200>21>7 RSI<30 Target R103.61 SMC - Above the Handle of the Cup is a Buy Side Liquidity Order Block. This is where Long traders BOUGHT and Short Traders got stopped. Where the BUYING took place with retail traders is where Smart Money came swept the liquidity and sold into it causing strong selling. With the bad rand, the load shedding, the world markets in turmoil - we are seeing selling to come for JSE stocks as of late.
JSE:SPPShort
by Timonrosso
TARGET REACHED: Sappi struck through the first price of R40.60Symmetrical Triangle formed on Sappi, the price broke below the apex and the price chose the bias of down. We had other indicators showing bearishness such us. 200>21>7 - Bearish RSI<50- Bearish Target reached at R40.60 The trend is still down and we will need the next formation to form before we decide what to do next. I'll keep you updated. ABOUT Sappi Limited was founded in 1936 and is headquartered in Johannesburg, South Africa. Sappi's name is derived from its original name, South African Pulp and Paper Industries Limited. (Also think of SAP from a tree I guess). The company was founded in South Africa in 1936 as a state-owned enterprise and was later privatized in the 1990s. The name Sappi was adopted in 1997 when the company underwent a rebranding exercise as part of its global expansion strategy. The company is listed on the Johannesburg Stock Exchange (JSE) and the New York Stock Exchange (NYSE) under the ticker symbol "SPP". Sappi is a leading global producer of dissolving wood pulp, paper pulp, and paper-based solutions. The company has operations in North America, Europe, and Southern Africa, with customers in over 150 countries. Sappi produces a range of products, including graphic papers, packaging and speciality papers, and pulp. In 2020, Sappi launched a new product range called Sappi Verve, which is a compostable barrier paper designed for use in food packaging.
JSE:SAPShort
by Timonrosso
Spar setting up for the next upside to R171.37 -SMC explainedCup & Handle formed on the Daily chart. Price is only breaking above the brim level now. This is good news for the bulls. Other indicators showing upside. 7>21 >200 RSI>50 Target R171.37 SMC Sell Side Liquidity Order Block is clear where there is buying from Smart Money. ABOUT THE COMPANY The Spar Group was founded in the Netherlands in 1932 and has since grown to become one of the largest retail and wholesale businesses in the world. The company operates in four main regions: Africa, Europe, Asia-Pacific, and the Middle East. As of 2021, the Spar Group operates over 13,800 stores worldwide, employing over 400,000 people. There is even a Spar store in Greece in Athens... The company's stores range from small convenience stores to large hypermarkets, and they offer a variety of products, including groceries, fresh produce, baked goods, and household items.
JSE:SPPLong
by Timonrosso