Mr Price 15 Month Channel - continues but heading up to R153.25Mr Price has been in a lingering downtrend channel since March 2022.
It's been a trading haven for range bounded traders who look for this kind of activity.
However for a breakout trader, it's been a waiting game.
So best we buy at the bottom of the range sell at the top and repeat.
Right now the price is heading back to R153.25.
If we get a breakout, we'll buy more. If it turns down, I'll send out the next signal.
Let's wait and see!
~ Mr Price Group Ltd. was established in 1985 and is headquartered in Durban, South Africa.
~ The company operates various retail brands, including Mr Price, Mr Price Sport, Mr Price Home, Miladys, Sheet Street, and Power Fashion.
~ Mr Price primarily targets the value-conscious consumer market by offering trendy and affordable fashion and lifestyle products.
~ The company started as a small store called "Mr Price" in Durban and gradually expanded its operations to become a prominent retail group in South Africa.
~ The name "Mr Price" was chosen to represent the company's focus on providing good value for money and affordable prices to its customers.
~ The company has also expanded internationally and operates stores in other African countries, including Namibia, Botswana, Lesotho, Eswatini, and Ghana.
CHANGE IN NAME
Over time, the company has rebranded its stores to display the name "MRP" instead of "Mr Price." They did this to appeal to a wider customer base. Despite the change in store branding, the company's official name remains Mr Price Group Ltd.
