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Mr Price - Technical Trade Note

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Trade note on Mr Price Group Limited (MRP)

An opportunity has presented itself on one of my favourite shares and I am taking the trade on Mr Price Group Limited (MRP).

The price action was trying to break through the 25041c resistance level on a few occasions and has finally broken through this level yesterday.

There was also a favourable SENS announcement that came out yesterday after the market close that might support the move higher.

SENS link: https://senspdf.jse.co.za/documents/SENS_20180117_S394397.pdf

Trade: Mr Price Group Limited (MRP)

  • Entry (Buy): at market or 25617c
  • Stop loss: 24106c
  • Target price: 27522c

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