I hope I'm wrong with Spar going to R52.78
There is an Inv C&H that's formed on the monthly chart with Spar.
It's been coming down since April 2016 where it just couldn't break above R225.00.
Since then we've seen supply (selling) strong than buying.
And now with the price breaking below the Inv C&H, shows downside to come.
I hope I'm wrong with this one and they do something miraculous to pick up the price.
21>7
Price<200
Target R52.78
ABOUT THE COMPANY
~ The SPAR Group is a leading South African retail chain that operates in the grocery and convenience store sector.
~ SPAR Group South Africa is part of the international SPAR Group, which originated in the Netherlands in 1932 and has since grown into a global network of independent retailers. (There is even Spars in Greece - SPAR HEllas)
In South Africa, SPAR operates under various store formats, including SPAR, SUPERSPAR, TOPS at SPAR, and SPAR Express. Each format caters to different customer needs and market segments.
SPAR Group South Africa has a strong presence nationwide, with stores located in urban areas, townships, and rural regions.
HOW IT GOT ITS NAME
"SPAR" originated from the initials of the founding Dutch company's slogan, which was "Door Eendrachtig Samenwerken Profiteren Allen Regelmatig" (English translation: "Through united cooperation, everyone regularly benefits"). The first letters of each word spell out "SPAR."
It's been coming down since April 2016 where it just couldn't break above R225.00.
Since then we've seen supply (selling) strong than buying.
And now with the price breaking below the Inv C&H, shows downside to come.
I hope I'm wrong with this one and they do something miraculous to pick up the price.
21>7
Price<200
Target R52.78
ABOUT THE COMPANY
~ The SPAR Group is a leading South African retail chain that operates in the grocery and convenience store sector.
~ SPAR Group South Africa is part of the international SPAR Group, which originated in the Netherlands in 1932 and has since grown into a global network of independent retailers. (There is even Spars in Greece - SPAR HEllas)
In South Africa, SPAR operates under various store formats, including SPAR, SUPERSPAR, TOPS at SPAR, and SPAR Express. Each format caters to different customer needs and market segments.
SPAR Group South Africa has a strong presence nationwide, with stores located in urban areas, townships, and rural regions.
HOW IT GOT ITS NAME
"SPAR" originated from the initials of the founding Dutch company's slogan, which was "Door Eendrachtig Samenwerken Profiteren Allen Regelmatig" (English translation: "Through united cooperation, everyone regularly benefits"). The first letters of each word spell out "SPAR."
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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