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SPP

THE SPAR GROUP (SPP)SPP's price is currently moving within a trend channel, and it's testing the upper trend line as we wait for this week's earnings announcement. Looking at how the stock behaved before, we can see that attempts to break key support levels were met with resistance, forming lower highs. Target 1 around the 96.68 area. Caution: If the stock breaks above the trend channel with support, it could indicate a shift to a more bullish trend. NOTE: On November 23rd, Spar ($JSESPP) shared a trading update that caused a 7.1% drop in its stock price at the opening. They expect the operating profit for this year to be between R1.6 billion and R2 billion, down from R3.4 billion in FY2022. The expected earnings per share (EPS) could be 76% - 86% lower, and the headline earnings per share (HEPS) might be 43% - 53% lower compared to last year. Results will be published on SENS by 08:00 on Thursday, November 30, 2023.
JSE:SPPShort
by MarketMeistersTrading
EUR/USDHello. How are you? We start the first trading day of the week. Important news was released last week, which created a range of movement between 1.06357 and 1.07807. When the ceiling was broken (the area I marked with D), a character change with the abbreviation CHoCH symbol was formed. Of course, if we used the trend line, it completely confirmed that the channel ceiling had been broken and now we should wait for a possible pullback and upward movement. Now pay attention to the areas I marked with A, B, and C: Area A is a kind of cash collection that we call SPP in our style. Since this SPP line has been broken with the shadow of the candle, we can risk the market going up. Note that there are two other areas below Area A. Areas B and C are potential buy orders. They can be called potential demand areas. The area that I marked with B has been optimized and marked in a 5-minute timeframe. If the market reaches this area, which is approximately 1.06755, I will look for confirmation to enter a buy trade in a lower timeframe. My stop loss is under the bearish candle level, which means 1.06602. Additionally, area C is identified as the 50% area of an order block in the origin.
Long
by mohamadrezaKhorsand
Spar just broke below and it's BAD! Target R103.61Inverse Cup and Handle has formed over the last month for the retail giant. The price yesterday broke below the Brim level. This makes it bearish for downside to come. 200>21>7 RSI<30 Target R103.61 SMC - Above the Handle of the Cup is a Buy Side Liquidity Order Block. This is where Long traders BOUGHT and Short Traders got stopped. Where the BUYING took place with retail traders is where Smart Money came swept the liquidity and sold into it causing strong selling. With the bad rand, the load shedding, the world markets in turmoil - we are seeing selling to come for JSE stocks as of late.
JSE:SPPShort
by Timonrosso
Spar setting up for the next upside to R171.37 -SMC explainedCup & Handle formed on the Daily chart. Price is only breaking above the brim level now. This is good news for the bulls. Other indicators showing upside. 7>21 >200 RSI>50 Target R171.37 SMC Sell Side Liquidity Order Block is clear where there is buying from Smart Money. ABOUT THE COMPANY The Spar Group was founded in the Netherlands in 1932 and has since grown to become one of the largest retail and wholesale businesses in the world. The company operates in four main regions: Africa, Europe, Asia-Pacific, and the Middle East. As of 2021, the Spar Group operates over 13,800 stores worldwide, employing over 400,000 people. There is even a Spar store in Greece in Athens... The company's stores range from small convenience stores to large hypermarkets, and they offer a variety of products, including groceries, fresh produce, baked goods, and household items.
JSE:SPPLong
by Timonrosso