Steinhoff hit my price target and I am very worried for it now!We saw a major drop of 44% with Steinhoff to just 90cents and Its market capitalisation lost as much as R3bn in the fall from R6.9b yesterday
Steinhoff is in troubled waters with a debt of R185 billion.
There is a deal where if Shareholders will agree, they will end up owning 20% of the company.
The Creditors will own the rest.
The problem is the company will no longer be listed on the stock exchange.
From my experience when a company goes from listed to private it means a few things.
1. Liquidity issues
Volume will be low where you might not be able to exit a position with a rightful buyer or sell
2. lack of transparency
This leads to uncertainty for the business as shares holders won't have the transparent information like they would with a public company.
3. Valuation
With a company listed privately, this can lead to investors pricing in the business rather than shareholders. This can result in slower performance in the price of the share.
4. Market perception
The fact that a company has been delisted can be seen as a negative development by some investors, who may view it as a sign of financial distress or poor management. This can affect the market's perception of the company and its shares, which can in turn affect the value of your investment.
I would not touch Steinhoff with even my pocket money for sweets at this stage.
Trade well, live free.
Timon
MATI Trader
SNH
Steinhoff is not a Steinway that's for sure!BEARISH
4 Hour
Box Formation - Consolidation
Break below and target R1.00
|Steinhoff forecast| Price expectationI am expecting price to give us a bit of a relive so that we can pump again
Steinhoff Cup and Handle ENG/GERSteinhoff is in the process of forming a Cup and Handle formation, I expect a setback to the 23 retracement line and then an increase to up to 0.1564 €
Steinhoff ist dabei eine Cup and Handle formation zu bilden, ich rechne mit einem rücksetzer auf die 23 retracement linie und dann mit einem anstieg auf bis zu 0.1564€
STEINHOFF IdeaIs STEINHOFF trying to recover? Is this the best price we will see in a long time?
Testing some price action ideas. Testing.
Wait for the new monthly pivot, watch what price does on lower time frames, be cautious.
Price can do anything.
Beware the anchor.
Steinhoff - near double Bottom - RSI bull divRSI shows a bull div
we are near double bottom
uptrend could now go slower, patience is key; at least i am looking for Christmas business that Steinhoff gets new, good figures
no trading advice - my own opinion
SNHBUY SNH WHILE ITS CHEAP
- LATE DECEMBER / BEGINNING OF JAN looks like some bullish momentum is on its way
