Mr. PriceLooks like we have an inverse head & shoulders technical pattern on the weekly chart, which could take price to new all time highs.
Measured target is above 280.
A convincing break above 200 confirms the pattern.
MRP trade ideas
MRP Trading at bottom of rising channelCurrently trading at the bottom end of the rising channel. 50DMA seems to be providing support.
Looking to take a long here. Profit taking area 200-205 area.
MRP breaks a long term resistance with volume The volume preceding and during the breaks is pretty good
Nice Monthly breakout on MRPNice breakout on MrP. looks the shopping spree by the company is giving the stock some legs
Mr Price acquisition boosting the stock Mr Price
Mr Price is looking very good at the moment. The stock was boosted by the acquisition of Yuppiecheff announcement. I’m waiting for a close above 19360c level. The last time the stock closed above this level was in july 2919. If we get a close above 19360 I will add to my position and trail my stop loss accordingly.
Trade Summary 22 March 2021
Average entry: 18283c
Position size: 6.4
Stop loss: 16670c
Risk: +10323c
Risk%: -1.24%
MRP bullish engulfingMRP formed a bullish engulfing candle on Friday. A move to recent highs possible now.
MPR breaks back to a higher box with a bull flag breakoutNice breakout on MR price. As the stock breaks back to a higher box nice entry with a 16670 stop
MRP - Bull flag in the makingA break above R180 triggers the long idea with 1st target at R190 and full target at R210. Stop loss is a close below R170.
Some great wind at the backPosition
Everage Entry: R181..99
Quantity: 4
Stop loss: R163.95
The stock looks very good. I entered the trade on the break of the cup and handle and the R149 - R177 box. It recently broke to the R178 - R205. Still trading at the bottom of the R178 - R205. There’s a nice combination of bullish chart patterns. Head & Shoulders and Cup & handle. The neckline being. R187. There’s a great deal of wind at the back.
Daily chart.
There’s a nice bullish flag on the daily chart. Waiting for a break for the flag and close above the R187 (Neckline of the Head & Shoulders pattern) then I will add to my position.
MR Price Group breakout above resistance triggers long tradeAs posted on Twitter 04 February. The breakout above 180 resistance triggers the long trade with targets of 187.50 and 195.
A nice cup and handle on MRPA nice Cup and Handle on the stock. Broke out of the bullish flag/handle with a fair bit of volume of the past couple of weeks. With a fair bit of volume. I’m waiting for a breakthrough 17790c. Projecting the height of the cup My target for Mr. Price is 25070c. the 30w EMA is looking like it’s crossing the 60w EMA.
Tested the 50d EMA on Friday’s lows. The 50d EMA has been good support for Mr Price.
Bullish divergence + Cup and handle We had a nice bullish divergence on the stock between August 2019 and March 2020. The stock since made higher lows and higher highs. We now have a nice cup and handle pattern. To add to the wind at the back the company’s acquisition of power fashion adding to their cash generative Mr price shops. Targeting most the Mid-lower LSMs. Looking for a break above the 17790c resistance level. My trend indicators are also looking close to changing to the up-side, as the 30w EMA is quite close to crossing the 60w EMA. My minimum target on this trade is 25000c
checkout the weekly game plan here: villagetrader.co.za
MRP - 1D - SHORT ON LONG TERM TRENDGenerally i do not like trading against the trend, however we are on the top of a long term downward trend. Rising channel within a descending channel. ATR sell signal and weekly stochastic 14 overbought. Upward channel broken to the downside.
Mr Price breaks through the 200 week EMAMr Price breaks through the 200 week EMA for first time since 2019. Starting to look good on the long side. more especially since their recent acquisition of power fashion
JSE:MRP MR PRICE not Looking GoodMr Price has had some volume at the end of last week but was unable to make any progress to break above 15000. A clear reversal bar this week could takes back down to test 10000.
#JSEMRP - LONG Idea- A long trade has triggered on the hourly for MR PRICE.
- Looking for a move towards the ambush zone of R131.50 to R133.50
- Tight SL below the swing low or wider one around R120 level
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
MRP - MonthlyThe mid-point of the multi-year double top pattern continues to be a major resistance zone for the share. Next failure to hold R114.10 on a monthly close would open R102.84 as a new target zone. The technical indicators are near 'oversold' territory however could also be considered 'weak'.
