$JSEPPH-Pepkor: How Much Lower Can It Go?
My last coverage on Pepkor was on the 12th of October 2022, link below.
I forecasted a more prolonged correction and gave a stop-loss for risky longs below 1878 and the stock has not disappointed.
Looking at price action, the correction looks more like a zigzag that is currently in wave ((c)) which is unfolding as an impulse and currently in wave (iv) of ((c)).
The stock is also trading in a descending (falling) channel.
I remain bearish in the short-term and with year end results expected in early May, I will look out for trading updates/statements to gauge sentiment.
I forecasted a more prolonged correction and gave a stop-loss for risky longs below 1878 and the stock has not disappointed.
Looking at price action, the correction looks more like a zigzag that is currently in wave ((c)) which is unfolding as an impulse and currently in wave (iv) of ((c)).
The stock is also trading in a descending (falling) channel.
I remain bearish in the short-term and with year end results expected in early May, I will look out for trading updates/statements to gauge sentiment.
