Purple going into deep red to 30 cents :(Strong Down Channel continues with Purple Group.
There are no breakout patterns and now strong supports until we reach 40c and then 30c.
This is a no buying zone, despite how attractive the discounted value is.
End of the day, we need to wait for the break above the down channel, before bullishness shows.
Other indicators confirm downside momentum
200>21>7
RSI<50
Bearish
Target 30 cents
ABOUT PURPLE GROUP
Purple Group is a South African company that offers financial services through its various divisions.
Inception:
Purple Group was founded in 1998 as an investment holding company.
Headquarters:
The company is based in Johannesburg, South Africa.
Listed Company:
Purple Group is listed on the Johannesburg Stock Exchange (JSE) under the ticker 'PPE'.
Divisional Structure:
The company operates through a number of divisions, including GT247.com, EasyEquities, and Emperor Asset Management.
GT247.com:
GT247.com is a division of the Purple Group that offers a platform for trading futures, contracts for difference (CFDs), and other financial instruments.
EasyEquities:
EasyEquities is a division of Purple Group that allows individuals to buy shares in companies listed on the JSE and other global exchanges. It aims to make share ownership more accessible by allowing for fractional share ownership.
Emperor Asset Management:
Emperor Asset Management is a division of Purple Group that offers investment and portfolio management services to individual and institutional investors.
Recognition:
Purple Group has received numerous awards for innovation in financial services.
Leadership:
Charles Savage is the CEO of Purple Group and has led the company through significant growth and diversification.
Fintech Innovation:
Purple Group is considered a pioneer in the South African fintech sector.
