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Easyequities

Purple going into deep red to 30 cents :(Strong Down Channel continues with Purple Group. There are no breakout patterns and now strong supports until we reach 40c and then 30c. This is a no buying zone, despite how attractive the discounted value is. End of the day, we need to wait for the break above the down channel, before bullishness shows. Other indicators confirm downside momentum 200>21>7 RSI<50 Bearish Target 30 cents ABOUT PURPLE GROUP Purple Group is a South African company that offers financial services through its various divisions. Inception: Purple Group was founded in 1998 as an investment holding company. Headquarters: The company is based in Johannesburg, South Africa. Listed Company: Purple Group is listed on the Johannesburg Stock Exchange (JSE) under the ticker 'PPE'. Divisional Structure: The company operates through a number of divisions, including GT247.com, EasyEquities, and Emperor Asset Management. GT247.com: GT247.com is a division of the Purple Group that offers a platform for trading futures, contracts for difference (CFDs), and other financial instruments. EasyEquities: EasyEquities is a division of Purple Group that allows individuals to buy shares in companies listed on the JSE and other global exchanges. It aims to make share ownership more accessible by allowing for fractional share ownership. Emperor Asset Management: Emperor Asset Management is a division of Purple Group that offers investment and portfolio management services to individual and institutional investors. Recognition: Purple Group has received numerous awards for innovation in financial services. Leadership: Charles Savage is the CEO of Purple Group and has led the company through significant growth and diversification. Fintech Innovation: Purple Group is considered a pioneer in the South African fintech sector.
JSE:PPEShort
by Timonrosso
Purple Group Channel and Rights Offer not working right nowThere has been a strong downtrend channel with Purple Group. And if we follow the movement the next price target is to 75 cents... No matter what the company does the price continues to drop. It might be because it is a Penny Stock which is never seemed deemed as valuable to shareholders as blue chips. There may be hidden issues within the books, micro and macro economics - which may soon be revealed. And the Rights Offer that took place has lead to the company losing over 450 million. Let's explain what happened... PURPLE GROUP'S RIGHTS OFFER A rights offer, or rights issue, is a method by which a company can raise additional capital from existing shareholders. When a company decides to conduct a rights issue, it offers shareholders the opportunity to purchase additional shares, usually at a discount, in proportion to the number of shares they already own. Purple Group decided to raise money by offering existing shareholders the chance to buy more shares at a lower price than they were trading on the market. This is called a rights issue. When they first announced this plan, the shares were worth R1.29 each. But the new shares were being offered at a cheaper price, 81 cents each. They hoped to raise R105 million this way. In theory, the value of the company (called the market cap) should have gone up by the same amount - from R1.64 billion to R1.74 billion. This is because the company now had more money and the same amount of shares. However, instead of going up, the company's market cap fell to R1.29 billion. This means the value of all Purple Group's shares on the market together was R450 million less than before the rights issue. That's over four times more than they raised. The current share price is R0.90, which is less than the price when they announced the rights issue. So, people who bought the extra shares have lost money. Now, the shareholders are hoping that the company can use the R105 million it raised to increase profits and push up the share price. The CEO of Purple Group, Charles Savage, seems confident, stating that they have achieved a return of over 1,000% on a previous capital raise of R100 million. But only time will tell if they can repeat this success.
JSE:PPEShort
by Timonrosso
Purple GroupJSE:PPE just released unaudited results; the stock took a bit of (continuous) hammering. Previously, we anticipated R1.10 as the potential support level, the stock is currently trading at that level. Technically, it's a zone to pay attention to, in anticipation of a breakdown or for buyers to step up and push the price up. This week, it'll be a combination of the results and the charts; may the best man win. No position. What's the stock's intrinsic value, and what price are you willing to pay for the company?
JSE:PPE
by Trend_Trader_JSE
1
Bullish Flag on Purple GroupJSE:PPE had a nice upward rally at the beginning of June followed by a slightly downward consolidation period. Because of these moves, we have seen the formation of a bullish flag pattern. A bullish flag is a continuation pattern, therefore the expectation is that the price will continue upwards once the breakout has happened. So far this morning a breakout has occurred, but I may be inclined to wait until Monday before entering a long position. If you take the length of the "flagpole" into account the target for this trade should be around 190.
JSE:PPELong
by RossLarter