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Shoprite is the largest supermarket retailer on the African continent. Their latest quarterly update for the period ending in September 2019 reported the following: turnover increased by 7.3%, Supermarkets RSA grew sales by 10.3% during the quarter. The Group’s other operating segments, which include the OK Franchise, Computicket, MediRite pharmacies and Checkers Food Services, reported a 6.4% increase in sales. The OK Franchise division grew sales by 8.6%.
The stochastic indicator confirms the oversold situation of the share and the positive divergence implies that the probability for more upside is more likely.
The share is caught within a descending channel (positive) between line A (R105-73) and line B. The optimism of the formation was confirmed when line A changed into a support. The possible target of the formation is R118-59 should it play out.
The 3 & 8 day moving average are still pointing downwards and only when the shorter 3 day moving average (R106-47 – green line) break upwards through the longer 8 day moving average (R108-52 - red line) will the short term sentiment towards the share change to positive.
A tweezer bottom (positive) was confirmed above line C (R107).
For traders – Buy or consider a long above R107-20 but use R102-50 as stop loss to protect capital. The possible targets towards the top are: R109-20, R110-50, R111-55, R112-60, R114-15 and R116-05.
For medium to long term investors – The 40 week moving average (R123-17) on the weekly graph is still a resistance which means the long term sentiment towards the share is still negative.
Frans & Christelle
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Shoprite is die grootste supermark handelaar op die vasteland van Afrika. Hul nuutste kwartaallikse opdatering vir die periode geëindig in September 2019, het die volgende berig: omset het met 7,3% toegeneem, Supermarkte in RSA se verkope het met 10,3% in die laaste kwartaal gegroei. Die groep se ander bedryfsegmente, wat die OK konsessie, Computicket, MediRite-apteke en Checkers Food Services insluit, het 'n toename van 6,4% in verkope getoon. Die OK konsessie-afdeling het die verkope met 8,6% laat styg.
Die stogastiese aanwyser bevestig die oorverkoopte situasie van die aandeel en die positiewe afwyking impliseer dat die moontlikheid vir ‘n bons na bo meer waarskynlik maak.
Die aandeel word vasgevang binne 'n dalende kanaal (positief) tussen lyn A (R105-73) en lyn B. Die optimisme van die formasie is bevestig toe lyn A in 'n steun verander het. Die moontlike doelwit van die formasie is R118-59 indien dit sou uitspeel.
Die 3 & 8 dae bewegende gemiddelde wys steeds afwaarts en slegs as die korter 3 dae bewegende gemiddelde (R106-47 - groen lyn) opwaarts kruis deur die langer 8 dae bewegende gemiddelde (R108-52 - rooi lyn), sal die korttermyn sentiment teenoor die aandeel verander na positief.
'n Haarnaaldbooglaagte (moontlik positief) is bo lyn C (R107) bevestig.
Vir spekulante – Koop of oorweeg ‘n lank bo R107-20 maar gebruik R102-50 as keerverlies om kapitaal te beskerm. Die moontlike teikens na bo is: R109-20, R110-50, R111-55, R112-60, R114-15 en R116-05.
Vir medium tot lang termyn beleggers – Die 40 week bewegende gemiddelde (R123-17) op die weeklikse grafiek is steeds ‘n weerstand wat die lang termyn sentiment teenoor die aandeel steeds negatief hou.
Frans & Christelle
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