South African stock alert

SAFR

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.

Note

The stock has outperformed 78% of the South African market over the past 6 months.

TODAY'S ALERT

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)

ISIN: ZAE000012084

PermID: 4295888469

Source: www.BuySellSignals.com