Shoprite looking trolley for trolley, beter everyday
We’ve all seen the latest released SA retail figures and subsequently what it’s done to the local retail company trading updates and financial results. Yes, it’s been bad! But, like my kids always tell their old man: “dad…that’s sooooo last year!!”
I recently published an idea on JSE:WHL (https://www.tradingview.com/chart/WHL/HV…) and still believe that the company should pull themselves out of the woods. The other company that is catching my eye lately, is Shoprite. A nice little developing, with the share price moving closer to the top of the . $JSESHP is now trading at its 50-day moving average (R175.87), with a break and close above these levels, possibly taking us to the top of the (resistance) at R185. A break above the is perceived to be (look for example at Sasol’s recent break – https://www.tradingview.com/chart/SOL/Xx…) and will be monitored closely. Should we break the R185 level, the 200-day moving average becomes my next target at R197.70.
Should we see a pullback, R158 support becomes critical.
Thomson Reuters consensus forecast currently got a R190.42 target price on the share price.
Currency Cross Rates
Subscribe to our Blog
- Get to know your JSE companies: REMGRO LTD (JSE: REM) 10th July 2020
- Get to know your JSE companies: GOLD FIELDS LIMITED (JSE: GFI) 3rd July 2020
- Schalk Louw Via Strictly Business: The Opening 2nd July 2020
- Schalk Louw Via Strictly Business: The 5 o’ Clock Shadow 1st July 2020
- Schalk Louw Via Moneyweb Radio: MoneywebNOW 19th June 2020