Shoprite crossing the 200 day MAJSE:SHP might close this week below the 200 dMA. I don't hold anything trading below this level.
SHP trade ideas
SHPLevels/thoughts via my ultra short term model. I think there's merit to having some type of automation. Why? (1) It removes human emotion and aligns with the tape and (2) it can save time.
I run levels on a daily basis for the all the large cap names (can extended to mid cap) and offshore equities.
For more research insights, including trade ideas, get in touch today.
Shoprite, double top?Initially I was hoping that JSE:SHP was gonna break above the previous high of R246, it couldn't. It's been pulling back to the 30 wMA, and it's currently trading below it, not a good thing. Also, it seems like it has formed a double top, I may be seeing things, but a double top and price below the 30wMA is not a recipe for success (except shorting success).
SHOPRITE - Earnings Release- Shoprite released earning's yesterday and the sold it back to the 200 day moving average.
- Bulls will need to defend R214 to prevent a further sell off towards the supply zone below (green).
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
JSE:SHP
SHP likely to outperform SPP?Pairs trade idea: Buy SHP vs Sell SPP
A price action above 1.4805 supports a bullish trend direction. Crossing below this level will negate the bullish stance.
Further bullish trend support above 1.4845.
Consolidation from 1.4955 to 1.5220.
Crossing above 1.5220 might target 1.5625.
The potential MACD bullish crossover might support the trade idea.
SHP - ObservationShoprite SHP (24082c) - short term traders, if you're holding. Technical Perspective:
> Daily Candle structure bearish following strong run
> Rejection at (exactly) the prior swing highs.
> Rejection at parallel channel
> The share was highlighted pre-market yesterday in the "strong but near overbought' scan.
For more research, including trade ideas, get in touch today.
ShopriteThis could be an entry trigger on Shoprite for a move to 260.
They released an Operational update earlier today, so it may be wise to give it 'The 3-day rule' first before initiating any 'Longs'.
SHP - Covering Monday's Short IdeaOriginal Idea Attached. Covering Short/Sell Idea from this past Monday (27 June). Share down 7.5% or -1600c over the 3-4 days, testing sub-19700c. Maybe there's more to go on the downside but it's always good to continuously be 'banking'. Also, it could be extended vs it's 8-EMA, so an ultra short term bounce is possible. Original short/sell at 24500c in April (share was on a 24 PE then vs a LT average of 18x) so it's been a sharp move lower over the medium term. Full target was 19300c but I'm happy for traders to take profits here (~19700c).
Shoprie is losing groundJSE:SHP share price is under pressure, and it has broken below a support level. JSE:SHP has been trading below key MAs for a while now, it's no surprise that the down ward move is gaining traction. It's not wise to keep on buying the stock at the moment, let it fall without you, unless you'e short. JSE:PPH is another weak retail stock.
SHPContinuation Sell? The share is developing a bear flag technical formation which is triggered either (1) on an immediate break below 21100c or (2) on a breached of the incline support i.e. lower boundary of the bear flag structure. The current consolidation is on the share’s 200-day moving average (SMA) which raises the risk of a break below the SMA and a moderate acceleration of the recent downward trend which commenced in the fourth week of April. I also note the price being rejected at it’s declining 50-day exponential moving average, which acts as a guide over the medium term. In addition, the share is possibly developing a head and shoulder (bearish) technical formation. Note: I previously called a short/sell in the mid-240s in the first half of April while I also called for a countertrend buy/long at 205 and re-sell should it have traded in the 22600c-23100c range.
TRADING LEVELS:
Selling: 21283c-21380c or on a breached of the incline (lower boundary of bear flag structure)
Target: 19300c
Stop-loss: 22140c
SHP: ShortContinuation to the downside?
Stop loss: R216.33
Take profit: R197.62
*No.1 Manage your risk*
SHP possible end of bearish trenda close above R217.00 will be a bullish breakout out of a 2 month bearish channel.
SHOPRITE - Bear flag brokenFollowing up on the previous post of the major trend break down, SHOPRITE continues to move lower which possible support now at around the 200 day moving average R197.50 - R202.50
It will need to get back over R225 to reverse the short term trend
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
SHPShoprite SHP. In my 21 March research report (23391c) I was looking for a print into the mid-240s followed by a decline. It traded into that level followed by a sell-off into 211 last week Friday. Now close to the prior breakout & consolidation range. Short term trading perspective: the re-sell & re-buy zones I have in mind (provisionally) is on the chart.
SHP supportA small H&S (not perfect with right shoulder a bit high) played out. Hitting support now. R212 level needs to hold for a bounce back to R230.
Trade ideas are my own and not financial advice
SHOPRITE - Trend end?- Shoprite has been on a super trend since SEP 2020
- Currently price has pulled back below the 50 day moving average which has been a very supportive moving average. This could form part of a distribution phase or possibly be the top of this move. I will be cautious taking any longs at this level.
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
SHOPRITE - Triangle BreakoutSHOPRITE's price has broken out the top of a symmetrical triangle pattern signaling a long position.
AG Capital -Storm trading Morning Call 8 March 2022We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
@VIllageTraderZA Shoprite continues to eat retails for lunch Shoprite continues to eat food retailers for lunch. Strong update from the company. With PicknPay and spar falling rapidly Shoprite is the only food retail play in town
@VIllageTraderZA - Ascending triangle ready to breakIn this week's stocks in play
Shoprite $SHP Ascending triangle looking ready for a breakout. Let's wait for the close and see
#JSE
Possible Pairs Trade: Long Spar vs Short ShopritePossible Pairs Trade: Long SPP vs Short SHP
Ratio level: 0.86
3-Month Perf:
SHP: +8.6%
SPP: -16.2%
R165 is a big level for SPP, so consider the idea PENDING.
For more real-time insights and trade ideas, including market neutral/pairs get in touch today.
SHP pullback to breakout levelSHP can provide a good buying opportunity if it retests the R190. level
reward to risk 1.5:1
ShopriteShoprite - possible bull flag technical setup. Potential price path highlighted on chart. I'm monitoring for entry.
Most recent trading long 29 July at 15720c.
This note is an extract from today's report for the week commencing 15 November 2021.
