UPDATE: Clicks just gave two extra buying signals!Inverse Head and Shoulders formed on Clicks.
The price broke up and then there was a consolidation to the downside forming a somewhat Falling Pennant.
During this time the price bounced off the 200 MA and the uptrend.
This coonfirms the upside will continue along with other indicators.
7>21>200
RSI>50
Target remains at R340.76
Jsecls
UPDATE You pay less for Clicks for NOW target still R340You pay less at Clicks but the price is going up so now is the best time to buy.
We have an Inverse Head and Shoulders pattern form, as I mentioned earlier. the price broke up and is showing strong upside to come.
We have other indicators confirming including:
7>21>200
RSI>50
Target R340.76
ABOUT THE COMPANY
Clicks is a well-known South African retail pharmacy, health, and beauty chain.
Clicks was founded in 1968 in Cape Town, South Africa, as a health and beauty retail store.
Product Range:
Clicks offers a wide range of products, including pharmaceuticals, over-the-counter medications, beauty products, skincare, haircare, personal care items, and more.
Store Network:
Clicks has a vast network of stores across South Africa, with locations in cities, suburbs, and shopping malls.
Pharmacy Services:
Many Clicks stores have an in-house pharmacy, providing prescription medications, advice from qualified pharmacists, and other pharmaceutical services.
Private Label Products:
Clicks has its own private-label brands for various products, offering customers affordable alternatives to well-known brands.
Wellness Clinics:
Some Clicks stores have wellness clinics that offer various healthcare services, including vaccinations, screenings, and family planning consultations.
Beauty Services:
Some larger Clicks stores offer beauty services such as nail bars and eyebrow threading, enhancing the shopping experience.
Online Shopping:
Clicks offers an online platform where customers can shop for a wide range of products and have them delivered to their homes.
Rewards Program:
The Clicks ClubCard loyalty program offers customers discounts, cashback rewards, and personalized offers based on their shopping habits.
Parent Company:
Clicks is part of the Clicks Group, which also owns other retail brands like Musica, The Body Shop, and UPD (United Pharmaceutical Distributors).
HOW IT GOT ITS NAME
The "Clicks" name was apparently derived from the sound that the founder, Jack Goldin, heard from a clicking stethoscope, embodying the health focus he wanted for the company.
However, due to the existing legislation, the health focus was not immediately realized until later years.
Clicks broke above the Inverse Head and Shoulders FINALLYInverse Head and Shoulders has been forming with Clicks since March 2023 as it was being formed.
We've seen the price making higher lows, breakout of its year downtrend, and things are now looking better for the bulls.
Other indicators confirm:
7>21>200
RSI>50
Target 1 will be quite extended and it could be a medium term hold but my first price is to R340.76
ABOUT THE COMPANY
Clicks Group is a retail-led healthcare group which has been listed on the JSE Limited (Johannesburg Stock Exchange) since 1996.
Clicks Group was established in 1968 in Cape Town, South Africa by entrepreneur, Jack Goldin.
Clicks was originally conceived as a drugstore concept in the style of American retailers such as Walgreens and CVS, but with legislation in South Africa at the time prohibiting corporate ownership of pharmacies, the model had to be adjusted to a variety retailer.
The first Clicks store was opened in St. Georges Street in Cape Town.
The "Clicks" name was apparently derived from the sound that the founder, Jack Goldin, heard from a clicking stethoscope, embodying the health focus he wanted for the company.
However, due to the existing legislation, the health focus was not immediately realized until later years.
The Group operates through multiple retail brands like Clicks, GNC, The Body Shop, Claire's, Musica (which you can't find anymore), and more, providing a wide array of products from health and beauty to homewares.
In 2003, Clicks was finally able to introduce pharmacies into their stores after South African legislation changed to allow corporate pharmacy ownership.
Clicks Group has the largest retail pharmacy chain in South Africa with over 500 in-store pharmacies.
Swing Trade: Clicks GroupClicks JSE:CLS seems to be bouncing off the bottom of a 100-day regression channel, supported by the 200 EMA line and a decent double bottom pattern.
The leading RSI and Stochastic indicators signalled a trend reversal on 26 February 2021 by turning up through 50 and crossing up through the slow line from a low base, respectively.
The MACD (lagging) confirmed this trend today, 2 March 2021 by crossing above the signal line.
Entry for me would be a confirmed close above R250, with a price target of R264 and R279 based on resistance levels, and if it fell out the bottom I would exit at R239.
Reward: 11.73%
Risk: 4.37%
Ratio: 2.68
JSE:CLS Clicks Still Waiting for the Backup ActionAfter breaking the reaccumulation trading range (TR) with signs of strength (SoS) we now see a smaller trading range forming which should lead to some backing up action before the markup in phase E starts. After the breakout and SoS we have had localised buying climax (BC), automatic reaction (AR) and now a secondary test (ST) of the BC completing phase A of the sampler TR that is forming. There is no demand (low volume) and I am expecting the price to stay in the TR until a spring forms which completes the backing up (BU) action to test the breakout level of the larger reaccumulation TR. For now, some patience is required for the TR to complete before going long and following the markup.
JSE:CLS Clicks Large Potential UpsideUsing the Wyckoff Point and Figure methodology to predict potential targets of our previous analysis (see link below) there seems to be large upside potential. Using a 200 box size and 3 box reversal which is equivalent to a weekly chart we have a count of 38 bars. Therefore the potential is for a 38 x 200 x 3 = 22800 point rise. Taking it from the low 15721 we get a target of 38521. Using the countline 18893 we get a target of 41693. This leaves us with significant upside potential. After a retest of the breakout level, we could establish a good longterm campaign.
Big bearish divergence on Clover Industries LtdBetween October 2018 and March 2019, JSE:CLR went on a strong bullish run. Since then, the stock has been running flat.
More interestingly, though, a big bearish divergence has formed between price and the MACD while also breaking the upward trendline. The Slow Stochastic indicator is also trading well below the 50 level at 34. This is indicating weakness in price and adds to the bearish signals.
The stock is thus looking good for a short trade but I would like to see a close below support at R22.00 before I would recommend opening the short trade.