Libstar soon to rocket to R5.00?These Penny type stocks are very difficult to analyse technically.
There is little volume, high volatility and almost no liquidity.
You can see this by jumping candlesticks between ranges (bids and offers).
So we can deduct a few things but with less certainty than with Blue Chips.
1. Downtrend broken
2. Price ready to break above 200MA - Bullish trend
3. Price to break above the Rectangle formation - Bullish.
If we get a strong push above the range, the next target could be well to R5.00.
If it breaks down, then things will change to bearish.
ABOUT THE COMPANY
Libstar Holdings Limited, a prominent player in South Africa's food and consumer goods industry:
Established in 2005:
Libstar was founded to acquire and grow businesses in the consumer packaged goods sector, aiming to create products that enhance family unity.
Headquartered in Plattekloof, South Africa:
The company operates from its headquarters in Cape Town but has a presence across several provinces in South Africa.
Wide Range of Products:
Libstar boasts an extensive portfolio of over 9,000 products, including dairy and meat products, fresh produce, groceries, and more.
Segments of Operation:
The company operates through various segments, including Perishables, Groceries, Snacks and Confectionery, Baking and Baking Aids, and Household and Personal Care.
B2B and B2C Focus:
Libstar serves both business-to-business (B2B) and business-to-consumer (B2C) markets, offering outsourced manufacturing solutions and food service solutions alongside its consumer products.
