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MRP
Ideas

MR PRICE GROUP LTD

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MRP trade ideas

Triple Top Resistance JSE:MRP is once again showing a bearish engulfing candle pattern, but this time, it is also coinciding with a triple top resistance level. The last bearish engulfing didn't play out, but because of the strong resistance, this one is more likely to.

Short

MRP Trend Reversal We have a Bearish Engulfing on JSE:MRP which was formed yesterday. This could mean a possible trend reversal from the short term up trend. I have entered a short trade at this morning's opening.

Short

Updated

Mr Price running with the bulls Mr Price has had a mixed year so far. In January, it dropped a massive -16.69% in one day falling from R259.14 to R215.24. It then spent the next two months trading a range between R205.00 and R225.00 before finally dropping to R180.00. Since then, the stock has discovered some bullish vigor, running all the way up to R221.82. The MACD also broke above the the zero-line indicating a bullish trend is back in force. My only concern is the Slow Stochastic. It has been indicating the stock is overbought for a while now. I expect some minor bearishness before the stock continues its bullish run. I will thus look to buy MRP on weakness. Action: Place a Limit Order to go LONG with your Limit Price set to R205.00. Set your Stop Loss to R180.00 and your Take Profits to R230.00 and/or R250.00.

Long

by UnknownUnicorn3689126

MRP - Go Long Above R223 Cup and handle breakout. Resistance at R223. If break through here a possible R259 in sight. Strong Support at R196

by oliebobbenos

$JSEMRP Mr Price. Inverted head and shoulders in the making Neckline break of 11600 will open 22650 and 25200 targets. Wait for a neckline break.

$JSEMRP Mr Price Bull flag breakout Looks like a bull flag breakout on Mr Price. Target 206 for this flag.

Long

Updated

$JSEMPR Mr Price Bull flag break target hit.Good showing by the bulls

Mr. Price Mr. Price through the neckline resistance; next is the previous support (now resistance) around R204/R205.

by Innocentmaponde

mrp buy buy buy

Long

by SlondeSGumede

$JSEMRP Mr Price. Bottom gap close could become a target The gap at 17800 - 18800 could become the target for bears after the recent bear flag break.

Short

Updated

Mr. Price: Rising wedge on the hourly chart This morning we witnessed what looked like a 'false' break to the upside of the wedge pattern. Currently -1.2% down, as the wedge pattern seem to be playing out.

Short

by Innocentmaponde

Updated

Mr Price Mr Price moved 1.94% on Friday higher to close @ R210. The 200-day moving average @ R205.83 needs to hold as support. R230.67 at the 61.8 fib level will act as short-term resistance.

Mr. Price bouncing off support Mr. Price 'very happy' in today's session, up an impressive 4.4% so far. But how far can it go? In its way, we have falling 50 and 200 day moving averages between R226 and R231 which may potentially limit further gains. I'm monitoring these levels for a potential short Support comes in around R205 on the daily chart. Looking at the weekly, again there is support around the R205 area which also coincides with the 200dma. A weekly close below these levels potentially opens up for further downside.

Short

by Innocentmaponde

$JSE-MRP JSE:MRP Flat bottom triangle, still not confirmed but once it does lots of downside possible

JSE:MPR Redistribution Complete Mr Price has been showing some weakness and was being redistributed. In a previous post I was too quick to call it but now we have seen a change of character. After a small pullback, we are looking for the TR to be broken and a markdown to begin.

Short

Mr. Price at the 'mercy' of 200dma on the Weekly Last week MRP released Trading Update which wasn't received well by the market, which took the price from last week's highs above R250 to current levels below R215. Technically, looking at the weekly chart, we have a rising wedge pattern which has since broken to the downside, and now we have the 200 day moving average sustaining the price. If the 200dma is breached, it could expose the R180/R185 area. I'm monitoring for a Short once we close below that 200dma.

Short

by Innocentmaponde

Bear flag on $JSEMRP Possible bear flag that if it plays out will take us to our 18500 target

Short

MRP Upward price channel JSE:MRP has been trading in an upward price channel for quite some time and it has broken through the mid line recently and is looking good to go upwards. Along with this, the stochastic has recently turned up through the 20 line and the two EMA's have crossed upwards. I will look to enter around the 25000 level with a target around the 26200 level

Long

Updated

Weekly bear flag break - Target 185 Hindsight is 20/20, but looking at this weekly chart, it looks like a bear flag break on volume with a 185 price target.

Short

MR Price Set to break above rising wedge formation Mr Price Rising Wedge formation– set to break to the upside Strong support at R 240.00 (consolidations) …position for a brief pullback towards this level will support a long position for a break above R 260.00- Target of R 280.00 / 285.00

Long

Mr. Price-Rising Wedge I'm seeing a bearish rising wedge on the MRP daily chart... At the same time we have just seen a bullish golden cross involving the 50dma and the 200dma.... I'm bearish all the same!

by Innocentmaponde

MRP - Ascending Triangle JSE:MRP 's unaudited results came out on the 23rd of November, and the market loved them……up 6.14% on the day. Since then it has broken up through the resistance line of the ascending triangle. It might come back down to test the support, but things are looking good for a long position on this instrument. Exit could possibly be around the 27550 level.

Long

Updated

$JSEMPR JSE:MRP Cup and handle in place.

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