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CLICKS GROUP LTDCC

CLICKS GROUP LTD

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CLS trade ideas

CLS (W)For long term traders/investors, the share's proximity to it's 200-week simple moving average is a factor to note: (1) While the price has made higher highs over a 4-year period (vs it's 200w), the DISTANCE vs the 200w has showed negative divergence by making lower highs. This is often a precursor to a breach of the 200w. (2) The distance vs the 200w is narrowing while a downside breach of long term support is possible which may eventually see the price price losing support at the 200w. If there was any stock that has shown absolute resilience over the long term, it's JSE:CLS ...however at a 33 price-to-earnings ratio and a price to book ratio of 15x, the technical factors and structure, combined with the valuation should be borne in mind.
JSE:CLS
by techpers
Room for a retracement on Clicks?JSE:CLS has been on a good run lately and has continued to form new all-time highs up until the previous high on the 22nd of September. At the same time, it has been consolidating sideways mostly since mid August. With today's downwards price action, we have broken out of the bottom of the consolidation area. If this downward momentum continues, I think we could see a retracement down towards the .5 or .618 Fibonacci levels before turning again upwards to potentially form new highs. Let's see what happens.
JShort
by RossLarter
Clicks GroupExtract from pre-market client note. Printed a ‘piercing’ candle pattern where the price traded below the prior day low (27110c) then reclaimed and closed above that level (27149c). Tuesday’s low was also in line with the 61.8% Fibonacci retracement level and just above the prior breakout. On Wednesday, the share needs to hold the 27000c level to signal a potential short term bullish reversal. Above-average volume relative to prior 3 days. Previous short around the 29700c level on 19 July. Got stopped out for -1.6%. The share subsequently traded higher before making a sharp decline to the current level. For more insights and real-time trade ideas, get in touch today.
J
by LD_Perspectives
1
Short Term Trade Setup: Sell ClicksVia my research, I've maintained two views on CLS: 1. The medium term ascending triangle is positive and could see higher levels being tested (possibility of 31300c/32200c), however 2. In recent days (the ultra short term), the price appears to be extended well above it's mean, with the technical indicators suggesting the price in overbought territory and, with the reward-to-risk starting to appear attractive for an ultra short term retracement. Technically, the drivers for a short term pullback are as follows: - Price extended outside of it's 200-period Linear Regression Channel - Price overextended vs both 20-EMA and 50-EMA - 7-RSI RSI at 94; 14-RSI at 85 - both in overbought territory - Considering the Bollinger Band indicator (not visible), we note the price trading well above it's mean. On this basis, we consider a sell/short, with the following levels: Sell/Short at current levels 29533c, or higher Stop-loss: 30315c Target: 28200c Links to recent short term and medium view are attached.
JShort
by LD_Perspectives
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