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PICK N PAY STORES LTDPICK N PAY STORES LTDPICK N PAY STORES LTD

PICK N PAY STORES LTD

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PIK trade ideas

Pick n Pay (PIK) Near Buying ZoneWe have previously laid out a plan for a short entry on PIK (see linked idea), now we are in a range of taking profit & looking to go long. Ideally the following must give confidence in a bullish reversal: 1. Price forming a swing low on the daily time frame. 2. Price closing above the green resistance line. Closing above the 10 day moving average would have been the third criteria but it some 10% above, too much profit to sit out. It would be great for price to go lower than R43.02 so that there is a longer runway to the upside. Failure to go lower means there is risk of any bounce turning bearish without going much higher. We will update as we see price action unfold.
JSE:PIKLong
by runyamhere
Pick N Pay downtrend about to continue to R23.20 - Fundamentals Downtrend has been forming on Pick n Pay since 8 Dec 2022. It's been a difficult period for retailer and looks like there is more downside to come. 200>21>7 - Bearish RSI<50 - Lower highs Target R23.20 Apart from its distribution channel issues, I think the weakening rand is the main culprit for retailers downside. There are a few fundamental reasons such as: Import Costs: Pick n Pay, like many other retailers, imports a significant portion of its products. When the rand weakens, the cost of importing goods becomes relatively cheaper. This may lead to lower procurement costs for Pick n Pay, allowing them to reduce prices and remain competitive. Reduced Demand: A weakening rand can indicate economic instability or uncertainty, consumers may feel worried about their finances and may become more price-sensitive and demand lower-priced goods. This gives Pick n Pay the undesirable incentive to respond by reducing prices. (Not that we've seen this!) Supplier Negotiations: When the rand weakens, suppliers may face higher costs for raw materials or imported goods. In order to maintain their business relationships and secure supply, suppliers might negotiate lower prices with retailers like Pick n Pay. These cost reductions can be passed on to consumers through lower prices. Inflation Pressure: A weaker rand can lead to higher inflation. Imported goods become more expensive, which can lead to higher overall prices for consumers. If inflation rises faster than wages, consumers may cut back on spending.
JSE:PIKShort
by Timonrosso
EXPLAINED: Runaway GapLESSON OF THE DAY Runaway Gap A Runaway Gap is a continuation move where the price gaps in the middle of a trend e..g Up or Down. The gap is a void (where no prices overlap between two candles) And then the price follows the previous trend. I like to think of a Runaway Gap as a horse that goes from trotting to galloping. The trend then starts to accelerate and continue in the direction. Specifics for this example: · Previous price moves in a downtrend. · Price then gaps. · Price then follows the continuous downtrend. Please react so I know to provide more daily lessons...
JSE:PIKEducation
by Timonrosso
2
$JSEPIK: Pick This Stock N You Will Pay....DearlyI probably do more grocery shopping at PnP than at any other store but it is one food share I avoid at all cost for investing. The share price performance over the last five or so years has been underwhelming and continues to do so. The company released a trading update for the 43 weeks ended 25 December 2022 today and despite improvements in sales, Mr Market did not seem to like it by gapping lower at market open and the share is still under pressure. Load shedding is also providing major headwinds with diesel generation costs sky rocketing as the electricity crisis worsens. All that said and done though, the technical picture is not any better. This is not the best trending stock with price action very choppy and generally sideways. The lows of August 2020 and March 2022 provide a two touch point support trendline where I will be looking for price to react. The Group plans to release its financial results for the 52 weeks ended 26 February 2023 (FY'2023) early in May 2023 and until then, I will sit on my hands on this one.
JSE:PIK
by Loyiso_BlaqueSoros_Mpeta