SPP Short Breakout ConfirmedSPP has confirmed short breakout i will nibble some moreShortby surecanweightUpdated 3
$JSE-SPPJSE:SPP Testing support in 18000-18100 area. Break bellow will probably open 16500 as next target. With second target around 15000.by ALSITRADERUpdated 9
SPAR - descending channelJSE:SPP is trading in a descending channel and has just bounced off of the top resistance level. We can expect a downward move towards the bottom of the channel or around 17780. Shortby RossLarter117
Buy Box on SparJSE:SPP broke out of the bottom of the 'buy box' consolidation area yesterday which normally means a signal to go short, but it seems like a hammer candle is forming which could mean a reversal, so I will remain cautious and only enter a short if it breaks the current low of today's price action.Shortby RossLarter2
Descending triangle on SparDespite a positive reaction to its Trading update last week, gains only went as far as the incline resistance around R205 We have now ‘lost’ the 50dma; next is the 200dma which coincides with the horizontal support area around R188-R190. This is the area to watch for a move lower. Shortby Innocentmaponde2
$JSE-SPPJSE:SPP Made massive inverting hammer on hourly chart today. Many traders rushed to buy yesterday after OK result. Good place to short in my book with SL =20300by ALSITRADER4
$JSE-SPPJSE:SPP Very important level around 18800, if broken will open 16600 as targetby ALSITRADERUpdated 5
THE SPAR GROUP ; JSEThe pattern gives us a very perfect confluence where the Head And Shoulder pattern formed right at the end of the impulsive 5 Waves up. We also have divergence on wave 3 and 5 confirming the trend correction.Shortby TheGreatestMarketAnalyst4
Trade Idea: Spar Group (SPP)A share's prior breakdown level often becomes a distribution zone once the level is re-test. Spar Group, which has rallied back to this level, is also testing it's downward trend line resistance while the last three sessions, by observation of the candle structure suggests 198/202 becoming a distribution zone. while the volume is starting to decline on this 4-day push higher. This is where I think we are setting up a short/sell for a move back down to 189/188. Short on print back above R200 SL: R205 TP: R188Shortby LD_Perspectives2
Trdae Idea: Spar GroupKey Drivers • Share price under pressure due to the deteriorating SA consumer environment. • From trading above R220 in March, we now trade near R170. • SPP is an SA retailer with rand hedge qualities (operates in UK and Europe). • Approaching technical support, with incline going back March 2014. • Testing prior breakout level. • RSI daily chart signals near oversold conditions." Code SPP Entry (buy below) R 171.00 Stop-loss R 167.00 Take Profit Target R 182.00 Potential % Return 2.37% Risk -4.09% Longby LD_Perspectives7
Flash note: spar Group (SPP)According to our Trading Desk analyst, Lester Davids, there is a "srong move out of the inverse H&S however we could encounter some resistance around the R212 level." Contact the Unum Trading Desk on tradingdesk@unum.co.za for more details.Longby MarkWeetman2