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Pick n Trade - Spar vs Pick n Pay Trade Idea

22 August 2017 / Technical Takes Posted by: Barry Dumas
SPAR-VS-PICK-N-PAY.png

SPAR-VS-PICK-N-PAY.png

Spar Group Limited [JSE:SPP] vs Pick n Pay Stores Limited [JSE:PIK]

The rally in the retail stocks we saw yesterday presented two trade opportunities, so let’s see which one comes out “Tops”, excuse the pun.

1.The Spar Group Limited (SPP)

Spar-logo.jpg

I had my eye on this company and yesterday The Spar Group Limited (SPP) broke through resistance and closed above 17000c. This is a good opportunity to go long (buy) and enter your trade. Some retracement can happen in the morning so make sure your risk management is in place.

TRADE: The Spar Group Limited (SPP)

  • ENTRY: Long (Buy): 17200c
  • STOP: 16344c
  • TARGET PRICE 1: 17699c
  • TARGET PRICE 2: 18270c

Spar.png

Source - Bloomberg

 

2. Pick n Pay Stores Limited (PIK)

Pick-n-Pay-logo.png

With the Pick n Pay Stores Limited (PIK) opportunity I am waiting for a close preferably above my entry of 6398c before placing my buy (long) trade. Price might also retrace from yesterday so make sure your risk measures are in place.

TRADE: Pick n Pay Stores Limited (PIK)

  • ENTRY: Long (Buy): 6398c
  • STOP: 6059c
  • TARGET PRICE 1: 6603c
  • TARGET PRICE 2: 6825c

Pick n Pay.png

Source - Bloomberg

 

Always remember to apply your risk management measures before placing your trades as this will keep you trading in the markets.

Read more notes by Barry HERE.

 
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Barry Dumas | Trading Specialist at GT247.com
 

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