SHP trade ideas
Shoprite breaking channelShoprite breaking longterm downward channel, monitor for retest and direction.
Disclaimer: The views provided herein do not constitute financial advice.
Please feel free to comment, critique or add to my view, I welcome feedback, whether it agrees with my views or not.
This idea is based on my strategy, please consider your own before using it in any way. Always use a stop-loss and manage risk.
$JSESHP broke the resistance up up and awake.With a good operational and voluntary trading update (52 weeks ended 28 June 2020), it opened above 6% up.
R100 big support level to watchSHP has held R100 more than once last week and managed to hold. Made a nice pin bar reversal candle on Friday as well so a long will trigger if we have a close above R102. First target at R105. Stop loss would be a close below R100 on the daily.
#Shoprite - Short -$JSEMarket still in a downtrend. Expectation for marketing to retest resistance area at 10670, and continue to the downside and find support at 8029 area
Shoprite GroupWe seeing multiple rejections at R111.71 of which its a continuation rejection level, so all in all im still seeing bearish continuation
Now or never for ShopriteBroke the downtrend during lockdown, retesting the line. Hopefully with easing restrictions there could be some kind of recovery. Let's see.
Waiting for ShopriteStill remain one of my favorite shares currently on the JSE and has been good to me lately. Disclaimer time - I'm already long. Would however recommend (for those who investors who's currently considering a long position) to wait a bit for some consolidation.
Technically the share price found a strong resistance level yesterday (R127 - R128) and could take a bit of a breather. The share price is somewhat overbought according to it's 14-day RSI, but not to such an extend that I would start emptying my trolley.
It find itself back to close to it's 8-day Moving Average (EMA), with a break and close below R123.43 most probably seeking support at R119.50. I will definitely wait for confirmation to see if this very strong support level, holdup. I would use this level as my first entry point. Should we see a break and close below R119.50, I would make R100 my second entry point.
Weekly game plan 5 April 2020 - SHPIf we had to be long something in the equity space, SHP would be that something.
This can maybe be in the trading zone.....Look slike when it test resistance it falls..... Very nice risk reward trade
SHP - Short Term BreakWe may derive the following from the Daily SHP chart:
1. Price has closed outside of our downtrend channel.
2. A potential push to the upside may occur - price may then reach the recent high (blue line).
3. This will be telling for longer term buys on the higher time frames (W & M).
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
Shoppies testing the resistance lineWish it was under better circumstances, but SHP seems to want to test the resistance line.
JSE STOCKS - SHOPRITE HOLDINGS LTDAwaiting a confirmatory break above the trendline then we LONG the stock; all the way up to the SR level marked by a horizontal line.
$JSESHP Shoprite. Fake break ? Shoprite is starting to look interesting even though I must admit that the previous attempt at entering a long failed. Keeping a close eye on this one.
$JSESHP - Downward channel intact - for now. I would wait to see Shoprite break out from this channel before going long.
Could we see Shoppies break this long down trend?Down trend been going for a long time, this could be an interesting test of that line.
SHP - Bullish SignsWe may derive the following from the Daily SHP chart:
1. Price appears to be building a bullish structure.
2. Should price trade outside of the purple downtrend then we can expect a possible continuation to the previous high (blue line).
3. Wait for a bullish opportunity to present itself first. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
$JSESHP Shoprite Good results publishedNo meaningful technical analysis on this except that it looks like we're not going to see a lower low. Shoprite posted good results off a low base in a very difficult economic environment. I'm willing to take a long approach on this with targets of 12670 & 14500 based on this. The targets are based on trend lines that will offer resistance.
Equities | Shoprite Holdings SHP | Monthly Chart ViewStepping back and taking a bigger picture perspective, the share continues to show relative weakness with the sector with the price once again approaching multi-year lows. as per the monthly chart we have seen the 13600c level being rejected - which was the prior support zone. The next points of reference for the share is 10464 and 8837c.
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