South African stock alert
CLOSING UPDATE: Shoprite Holdings hits 52-week high second time in one month 19 January 2018 18:59 SAST
NEWS BITES - AFRICA
This is an end of day Alert, produced after today's South African market close. It concludes the BSS News Bites intra-day Alert series (summaries below).
Shoprite Holdings, South Africa's largest food & drug retailers company by market capitalisation, hit a 52-week high of ZAR244.05 today for the second time in the past one month and last traded at ZAR239.09. Trading volume was 47% of average at the end of the day. Compared with the FTSE/JSE- Africa Top 40 Index which rose 48.2 points (or 0.09%) in the day, this represented a relative price change of -0.3%.
Technical indicators complementing today's significant uptrend:
+ The positive 3.77 MACD (Moving Average Convergence Divergence) indicator suggests a bullish signal.
+ The 2.0% discount to 12-month high of ZAR244.05 against the 40.9% premium to 12-month low of ZAR169.74 suggests the stock continues to push for new highs.
+ In the last one month the stock has hit a new 52-week high twice and in the last three months five times, pointing to an uptrend.
+ The price soared 12.4% in the last week and jumped 6.3% in the last month.
The stock has outperformed 78% of the South African market over the past 6 months.
Morning Alert: Shoprite Holdings hits 52-week high second time in one month
19 January 2018 10:51 SAST
Shoprite Holdings Limited (J:SHP) hit a 52-week high of ZAR244.05 today for the second time in the past one month and last traded at ZAR237.95. Trading volume was 33% of average so far today.
Shoprite Holdings Limited (J:SHP; JNB:SHP; SJ:SHP)