Shoprite Piercing LineJSE:SHP is showing a piercing line pattern which is a bottom reversal signal. If it continues up, I will enter a long position.
SHP trade ideas
Shoprite Sell on H4Patience is everything.
Let's wait for a retracement and a test of that magic line then it's all systems go.
This analysis is strictly based on previous and current price action and signals
Good luck
Shoprite Momentum Strategy LongJSE:SHP is showing all of the signs for a long position on our trend following momentum strategy.
It would have been better to catch this a bit earlier, but it still has a bit of room to move until it hits the previous resistance.
Shprite looking weakAfter having broken previous support near R180.00, Shoprite is looking perilously weak. This seems to be the case with most retailers but the once "stock market darling" certainly looks to be struggling to gain any upside momentum whatsoever. If support level 2 does not hold, there is a very very long way down. Don't kid yourself, R130.00 is not impossible
SHOPRITE Descending TriangleJSE:SHP has broken out of a small descending triangle pattern which is a signal for a short position.
I have entered a short position and am aiming for around the 16000 target level.
$JSE-SHPJSE:SHP
Trying to break above big box developed over last few months.
So far looking good for bulls.
SHP - Did the handle started on the CUPPossible Cup and Handle scenario.
Lets see if it can break the R178 this time and stay above it.
SHP at a Decision-making resistanceJSE:SHP is trading at a resistance level and if it breaks through, I would consider a long position based on the breakout of the longer term down trend, but if it bounces off, I will go short for a shorter term trade.
But I will wait to see what happens first, before I make a decision.
SHP - Possible Bulls Breakout above R177SHP had a bear trend since Mar 2018.... started moving sideways Jan 2019 to current.
Possible new Support at R166. (Not tested and confirmed yet)
Stong Resistance at R177
Breakout above R177 - R178 and tested may be a bulls breakout indication.
Target 1 - R190
Target 2 - R196
Target 3 - R206
This is just a possible scenario. Any other suggestion will be appreciated
SHOPRITE GROUP LIMITED (SHP) SHORTPrice has been moving in a descending channel, in a series of impulses and correction, and we can expect prices to continue to move to the downside. There is potential for short term long entries due to an inverse head and shoulders pattern, which is a reversal pattern, but first price has to break the neckline and this will give us confirmation to enter especially if there is a retest. My bias is bearish as price seems to be forming the corrective part of a bear flag pattern, and conservative traders can enter on the break of the flag support to the downside, whilst risk-seekers can enter positions on the resistance level of the flag position. It would be even more safer to wait for a rejection of the descending trendline which makes up the channel support before placing any short positions.
Reversal on ShopritePossible reversal on JSE:SHP . It formed a bullish harami pattern on Tuesday at a level of support.
The stochastic is also turning up at the moment which is a good sign for a reversal.
SHP due a bounceSHP showing positive divergence on the momentum indicator. Buy for retest of the downtrend around 173. Stop loss below 150.
JSE:SHP Around Support line.Price has been bouncing around the major support zone on the 15m chart being rejected for the third time now, this must be an indication of bulls are trying to push price away from the resistance zone but every time a move away from the resistance occurs it gets rejected by bears in a major pressure shown by the engulfing candle sticks. NB!! double check analysis before entry.
$JSESHP looking trolley for trolley, beter everydayWe’ve all seen the latest released SA retail figures and subsequently what it’s done to the local retail company trading updates and financial results. Yes, it’s been bad! But, like my kids always tell their old man: “dad…that’s sooooo last year!!”
I recently published an idea on JSE:WHL () and still believe that the company should pull themselves out of the woods. The other company that is catching my eye lately, is Shoprite. A nice little Falling Wedge developing, with the share price moving closer to the top of the wedge. $JSESHP is now trading at its 50-day moving average (R175.87), with a break and close above these levels, possibly taking us to the top of the wedge (resistance) at R185. A break above the falling wedge is perceived to be bullish (look for example at Sasol’s recent break - ) and will be monitored closely. Should we break the R185 level, the 200-day moving average becomes my next target at R197.70.
Should we see a pullback, R158 support becomes critical.
Thomson Reuters consensus forecast currently got a R190.42 target price on the share price.
Shoprite attempting to go for the 'gap'Elevated valuations, weakening rand; I don't see that gap closing soon.
In case it does, there is a falling 50dma (currently at around R179) on the way which has been acting as resistance (for most of the times) since April 2018.
$JSE-SHPJSE:SHP
Busy making flat top triangle. Break above 16500 will open 17400 as first target and maybe even gap close at 17800 as second target
$JSESHP still range boundShoprite seems to have held the R180 horizontal support level even after results which missed market expectations. Possibly a range trade back to R190 with a 2:1 risk reward ratio. Enter 180, s/l 175, target 190
$JSESHP hourlyJSE:SHP
Rising wedge broken and currently been back tested and making bearish flag.
Target is previous lows in 17500-17600 are.
Long SHP - Potential double bottom signals move higher Double bottom confirmed with close above R204. Full target = R230. Pre-empting a long with a tightish stop
Shoprite approching resistance- SHORTING opportunitySHP approaching overhead resistance just below 200.00. Momentum indicators are looking weak which means there is no real buying impetus at current levels. I'll be looking to short after retail figures this afternoon. Levels are indicative only, but i do think this is a high probability short
