Get started

Sappi

SAPPI looking shap! Target potential to R56.76Symmetrical Triangle seems to have formed on Sappi. Now on the contrary of a Symmetrical Triangle being a Continuation pattern, it is possible for a reversal to take place in this instance. We have the converging of the trendlines where the price has reached an apex. Strong buy divergences and price action to the up. It's a bit premature to BUY just yet but I anticipate a breakour to the upside. Then full steam ahead. Other peripheral indicators confirm upside: 7>21>200 RSI>50 (Buy divergence) Target R56.76
JSE:SAPLong
by Timonrosso
TIMBER! For Sappi to R20.00 due to Short Formed MShort Formed M Formation is evident. This is a normal Double Top but the second one has a lower high than the previous. This indicates even stronger selling pressure for the company. With it broken below the neckline, the next price level it can go to is at least R20.000 Other indicators confirm: 21>7 (Bearish) Price<200 - Bearish RSI<50 (Lower highs) Target R20.00 ABOUT THE COMPANY Sappi Limited, originally known as South African Pulp and Paper Industries, is a multinational company specializing in wood pulp, paper, and paper-related products. Inception: Sappi was founded in 1936 and started operations as a pulp and paper company. Headquarters: The company is headquartered in Johannesburg, South Africa. Global Presence: Sappi operates manufacturing operations across three continents: North America, Europe, and Southern Africa. Stock Listing: The company is listed on the Johannesburg Stock Exchange, with secondary listings on the New York and London stock exchanges. Primary Business: Sappi is one of the world's largest manufacturers of dissolving wood pulp, a material used in a wide variety of products, including textiles, and packaging materials. Paper Production: The company is a leading global producer of printing and writing papers. Product Range: Beyond pulp and paper, Sappi also produces packaging and specialty papers, casting and release papers, and biomaterials. Employment: Sappi employs over 12,000 people globally.
JSE:SAPShort
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
TRADE UPDATE Sappi breakdown with a markup before drop to R40.60Symmetrical Triangle formed on Sappi. Broke below and has been coming down nicely. 200>21>7 - Bearish RSI<50- Bearish We recently had a markup phase which is where the orders are being filled from the recent drop. We need to retest the high (resistance) and price should come down. If it breaks above, it will be wise to place a stop loss and lock in profits as the trend will have turned up. Right now, still bearish with a target to R40.60
JSE:SAPShort
by Timonrosso
Sappi showing strong downside to R42.39 thanks to a TriangleSymmetrical Triangle formed on Sappi. This is where a pattern moves neither up or down just sideways. We then had a break down, which confirmed the trend direction. 200>21>7 - Bearish RSI<30 - Bearish Target R42.39 INTERESTING FACTS Sappi Limited is a South African pulp and paper company founded in 1936. The company has operations in over 40 countries across the world. Sappi produces a variety of products, including printing paper, packaging paper, and speciality paper. The company is the world's largest producer of dissolving wood pulp, a key ingredient in the production of rayon and other textiles. Sappi is also a leading producer of graphic paper, which is used for printing magazines, brochures, and catalogs. It's also traded on the NYSE!
JSE:SAPShort
by Timonrosso