PIK
UPDATE: Pick N Pay down in the dumps target still to R10.76Since the last update, we established Pick N Pay formed this M Formation which we were anticipating a break down.
The break down took place and we were initially hesitant as we expected conservative testing of resistances and demand zones.
But the fundamentals caught up to Pick N Pay, and the price continued its slump.
The company is struggling with the inflated prices, challenging distribution channels and of course Load Shedding having a major effect on the business and the suppliers too.
Unfortunately, we will continue to see downside for the retail giant and I hope it will make a come back in the next few years, as it has served an incredible element to South Africa and the variety of products unlike many places in the world.
The target remains at R10.76.
Pick n Pay big bearish formation with a runaway gap to R38.42Bearish box has formed over the last couple of months with Pick N Pay.
The price broke below the support and made a runaway gap.
This is a gap that runs in the direction and accelerates down the trend.
This is very bearish for the stock
200 >21>7
RSI<30
Target R38.42
According to daily analysis PIK go shortHello Traders!
The probability of what I analyzing, is to be true unless the opposite is proven
According to my analysis, this is my opinion about Daily chart for KIDPIK CORP ( PIK )
Feel free dear trader to share with me your opinion, and also your analysis & Keep Watching
Pick the payBuy the bounce off the bottom of trendline. If you caught this earlier, well played sir/mam.
JSE:PIK Pick n Pay BackupAfter a distribution trading range that started in 2016, we have seen a markdown of PicknPay. This has resulted in a high volume selling climax (SC) and automatic rally (AR) back to the trading range. Price can be expected to range at these levels before breaking lower to continue the markdown. We will watch the development of the new trading range.
UpdatePIK up 3.7% this morning after delivering a solid set of interim statemetns.
reported revenue for the H1 of R42.3bn(+6.4%)
Group turnover up 6.4%, with like-for-like turnover up 3.8%...
Volume growth of 3.5% and market share gains over six months...
1H gross profit margin 18.6% (18.6%) internal inflation held at 0.3% against CPI food of 3.5%...
1H trading profit R631.8m (+5.5%)...
Interim dividend per share 0.391 rand (+17.1%)...
1H net income R489m ... 1H turnover R41.2bn...
Strong earnings contribution from South African operations - with trading profit up 11.9% and profit before tax (before capital items) up 16.7%...
Rest of Africa division delivered profit before tax growth of 7.3%, underpinned by a strong performance from TM Supermarkets in Zimbabwe..
Trading conditions are not expected to ease significantly over the coming months
I would give this share some space before implementing a short bias.
