Trdae Idea: Spar Group
Key Drivers
• Share price under pressure due to the deteriorating SA consumer environment.
• From trading above R220 in March, we now trade near R170.
• SPP is an SA retailer with rand hedge qualities (operates in UK and Europe).
• Approaching technical support, with incline going back March 2014.
• Testing prior breakout level.
• RSI daily chart signals near oversold conditions."
Code SPP
Entry (buy below) R 171.00
Stop-loss R 167.00
Take Profit Target R 182.00
Potential % Return 2.37%
Risk -4.09%
• Share price under pressure due to the deteriorating SA consumer environment.
• From trading above R220 in March, we now trade near R170.
• SPP is an SA retailer with rand hedge qualities (operates in UK and Europe).
• Approaching technical support, with incline going back March 2014.
• Testing prior breakout level.
• RSI daily chart signals near oversold conditions."
Code SPP
Entry (buy below) R 171.00
Stop-loss R 167.00
Take Profit Target R 182.00
Potential % Return 2.37%
Risk -4.09%
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