South African stock alert


Morning Alert: Bid Corporation increases 0.8% - outperforming 82% of stocks 18 October 2017 10:50 SAST


Bid Corporation Ltd (J:BID) has increased ZAR2.50 (or 0.8%) today to trade at ZAR312.19 and has outperformed 82% of the market in the past six months. A price rise combined with a high relative strength is a bullish signal.

SECTION 1: The past week

Current indications of bullish signals that support the trend in the unusual trading

1.1 At a glance

Weekly: Bid Corporation increases October 17, 2017 17:00 SAST

Bid Corporation Ltd (J:BID), South Africa's largest Food Processor company by market cap, has increased 65.75c (or 0.2%) in the past week to close at ZAR309.69. Compared with the FTSE/JSE- Africa Top 40 Index which rose 147.4 points (or 0.3%) in the week, this represented a relative price change of -0.1%. The volume was 0.7 times average trading per week of 4.8 million shares. The stock rose for a third week on Tuesday bringing its a three-week rise to ZAR19.66 or 6.8%. In the past week the market cap has risen ZAR220.5 million.

SECTION 2: Technical indicators


The positive 3.38 MACD (Moving Average Convergence Divergence) indicator suggests a bullish signal (12-day minus 26-day Exponential Moving Averages). Both the 12-day and the 26-day EMA are rising - another bullish signal. In the past week, the stock's MACD has been positive every day, a reinforcing bullish signal.

The 3.6% discount to 12-month high of ZAR324.0 against the 40.7% premium to 12-month low of ZAR221.83 suggests the stock continues to push for new highs.

In the last three months the stock has hit a new 52-week high once.

The price increased 1.0% in the last week and 2.0% in the last month.

The present value of ZAR1,000 invested one year ago is ZAR1,244 [vs ZAR1,154 for the FTSE/JSE- Africa Top 40 Index], including a capital gain of ZAR226 and dividend reinvested of ZAR17. The total return to shareholders for 1 year is 24.4%.

SECTION 3: Ranking

DescriptionValueRank In Market
MCap $US billion7.8In Top Quartile
Price/MAP2001.1In Top Quartile
52-week Range (in ZAR)221.8-324.0
1-month Range (in ZAR)287.5-319.0

SECTION 4: Recent News of Bid Corporation

October 11: Bid Corporation announces AGM

Bid Corporation has announced its Annual General Meeting will take place on Thursday, November 09.

October 04: Bid Corporation Limited - Disclosure Of Significant Holding Of Bidcorp Ordinary Shares

Source: Sharenet

September 29: Bid Corporation Limited - Dealing By Director

In compliance with Rules 3.63 - 3.74 of the Listing Requirements of the JSE Limited, the following information is disclosed in relation to the dealing in the Company's securities:

Source: Sharenet

September 01: Bid Corporation Limited - Disclosure Of Significant Holdings

In compliance with Section 122(3) (b) of the Companies Act, 2008 (Act 71 of 2008), as amended ("Companies Act") and paragraph 3.83(b) of the Listings Requirements of the JSE Limited ("JSE"), shareholders are advised that Bidcorp has received notification in terms of section 122(1) of the Companies Act that J P Morgan Chase & Co ("JP Morgan") has acquired of a beneficial interest in the securities of the company, such that their entire beneficial interest amounts to 10,48% of the total number of securities in issue (previously held 9,56% of the total number of securities in issue).

August 29: Bid Corporation announces dividend

Bid Corporation today announced a final dividend of ZAR2.0 per share. The record date is Tuesday, September 19, 2017 and it is payable on Tuesday, September 26.

Bid Corporation Ltd (J:BID; JNB:BID; SJ:BID)

ISIN: ZAE000216537