Pep broken above the 8 month downtrend Target R20.10Price has finally broken above the Downtrend since November 2022.
Also the price formed a Scallop formation, which has broken up and out of.
Momentum is pointing up.
Other indicators confirm.
7>21
RSI>50
Target R20.10
ABOUT THE COMPANY
~ JSEPPH Pepkor Holdings is a South African-based investment holding company that operates in the retail sector.
~ Pepkor Holdings (went public as PPH in 2017) was founded in 1965 by Jan Hettema as a single clothing store in Cape Town, South Africa.
~ The name "Pep" was derived from the first initials of Jan Hettema's three sons, who were named "P"atrick, "E"dward, and "P"eter.
~ The company has a diverse portfolio of retail brands, including Pep Stores, Ackermans, Incredible Connection, JD Group, and Tekkie Town, among others.
~ Pepkor Holdings has a significant presence not only in South Africa but also in other African countries, including Namibia, Botswana, Zambia, and Lesotho.
~ In addition to its African operations, Pepkor Holdings has expanded internationally and operates stores in Poland, Australia, and the United Kingdom.
~ The company focuses on value retailing, offering affordable products across various categories such as clothing, footwear, homeware, electronics, and more.
~ Steinhoff International Holdings, a global retail conglomerate, is a major shareholder of Pepkor Holdings.
Pepkorholdings
Head and Shoulders on Pepkor with strong downside to R16.38Head and Shoulders formed on Pepkor a few days ago.
The price broke below the neckline accompanying with other bearish signals.
200 >21>7 MA- Bearish
RSI<50 - Bearish divergence with lower highs
Target R16.38
ABOUT THE COMPANY
Pepkor was founded in 1965 by Renier van Rooyen and his wife, Elsie.
The company started as a small clothing store in Cape Town, South Africa, and has since expanded to become a major retail conglomerate.
Pepkor operates various retail brands, including Pep Stores, Ackermans, Shoe City, John Craig, Dunns, and Tekkie Town.
Pep Stores is the largest retail brand in the Pepkor group, with over 2,200 stores across Africa.
Ackermans is another major retail brand in the Pepkor group, specializing in clothing and homeware.
Shoe City is a shoe retailer with stores across South Africa.
John Craig is a menswear retailer with stores in South Africa and Namibia.
Dunns is a clothing and homeware retailer with stores across South Africa.
Tekkie Town is a footwear retailer with stores across South Africa.