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MR PRICE GROUP LTDMR PRICE GROUP LTDMR PRICE GROUP LTD

MR PRICE GROUP LTD

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MRP trade ideas

MR Price wants to go back to 200MA to potentially R177.42 SMCBreak above downtrend has occurred for the first time since 2022... This isn't a breakout pattern that I normally look at, but it's still a breakout move. Price<200MA (elastic) This means, the price has a likelihood of moving up to the 200MA (Equilibrium) to take out the inefficiency. Target R177.42 BREAKAWAY GAP formed in December, and since then the price has been coming down. Now that the orders have balanced at the "bottom" means, we could see a gap fill soon. SMC: Sell Side Liquidity Order Block this is where there is Buying from Smart Money. Hence there was a strong move up. I'm cautiously bullish with Mr Price.
JSE:MRPLong
by Timonrosso
$JSEMRP - Mr Price: Bears Still In ControlA technical update from the prior analysis with link below. The bear market from 24225 went lower since the previous forecast prompting and update of the wave count. The updated wave count still implies a combination pattern is unfolding, in this case a double zigzag with a triangle wave (X). The stock is in the later stages of wave C of (Y). There are no indications of the trend reversing as yet and it is a bit late for me to go short so I will sit on my hands and monitor price action.
JSE:MRP
by Loyiso_BlaqueSoros_Mpeta
Inv Cup and Handle on Mr Price heading to R133.00Inv Cup and Handle formed on Mr Price. The price broke below the brim level and is showing downside momentum. There is a previous support that still needs to break before all systems go, but my signal definitely gives a sell here. Indicators all look bearish 200 > 21 >7 MA RSI <50 - Bearish divergence Target R133.00 ABOUT The company Mr Price was founded in 1985 by Laurie Chiappini in Durban, South Africa. The company started as a small clothing store called Mr Price Fashion, which sold affordable and trendy clothing for young adults. Mr Price has since expanded its product offerings to include homeware, sportswear, accessories, and beauty products. The company operates in South Africa, other African countries, and Australia.
JSE:MRPShort
by Timonrosso
Mr Price (MRP): The Bearish ScenarioMr Price had an intermediate low on the pink arrow then made a higher low on the green arrow denoting the first daily cycle out of intermediate low. A bullish cycle would have been supported by price not going lower than the green arrow. What is the expectation: 1. Price remains bearish restricted by the green trendline 2. A rejection on that green line with a swing high confirmation allows opening of short position 3. The trendline below recent price is support but given downward force, can be expected to give in, in that case we can look at the dotted black line to offer support forming a broadening wedge 4. In the short-term we can expect price to reach a low end of October, for traders wanting to ride the move a 7% gain long before turning short at the green trendline
JSE:MRPShort
by runyamhere
$JSEMRP - Mr Price: Remaining Long-term Bullish!Mr Price released a trading update for the 13 weeks ending 31.12.2022 (Q3'2023) on Friday, 20 January 2022. As much as the update looked good on the surface, excluding the newly acquired Studio88, the comparable results looked dim. Load shedding continues wreak havoc on operations and the high inflationary environment coupled with high interest rates and negative real wage growth has resulted in continued financial constraints for consumers. Credit sales are likely to be hampered in the short-term as there was a reported increase in new credit accounts with subsequently decreased approval rates. The market clearly did not like the trading update and the share closed the day at -7.28%. The technical picture is where we see a ray of sunshine. After the five advance from 9820 to 24225, the consolidation has been well contained in a descending channel. The price action is clearly choppy which is consistent with corrective price action and the current wave count suggests a combination pattern is unfolding. In the short-term, I will monitor 15199 as key support but if price breaks below this level, I will simply update the wave count. As long as price remains contained in the descending channel and above 9820, I remain bullish on the medium-long-term prospects.
JSE:MRPLong
by Loyiso_BlaqueSoros_Mpeta
$JSEMRP Mr Price Group Ltd - R164,55 A Key Level To HoldLike many stocks that bottomed in March 2020 after the Covid-19 sell-off, MRP made a strong recovery and peaked in August 2021 at R242,25. The advance from R98,20 to R242,25 unfolded in a complex five wave pattern (1) to (5) which is either wave or of one larger degree. The pullback which has a current bottom at R164,55 looks corrective in nature and is well contained in a down-sloping channel. The price bounce at R164,55 is at the 50% to 61.8% Fibonacci retracement level of the entire advance from R98,20. The expectation is a breakout from this channel for wave or . The bias is bullish though there is downside potential if price breaks below R164,55. short-term traders: buy: @ market stop-loss: below R164,55 Investors: buy: @ market stop-loss: N/A
JSE:MRPLong
by Loyiso_BlaqueSoros_Mpeta