$JSEPPE - Purple Group: Bullish On Fundamentals & Technicals

See link below for previous analysis

Purple Group released its interim group results for the six months ended 29 February 2024 yesterday and the market loved it.

Highlights:
-Group revenue increased by 29.3% to R188.8 million
-Group operating expenses decreased by 0.4% to R141.8
-Profit attributable to ordinary shareholders of R10.9 million, compared to a loss of R10.6
million in the prior comparative period, representing an increase of 202.3%.
- Group basic and headline earnings per share increased 192.9% to 0.78 cents per share
- The Group's net asset value per share increased by 7.4% to 41.60 cents

Technically, we have all that I previously mentioned; mainly
-the target of 46cps has been reached to the cent
-a clear break and consolidation above the zero-line by the MACD
-12/50EMA has given a buy signal and the EMAs are now providing support
-strong volume over the last 14 trading sessions

These are good reasons to be optimistic that a bottom is in at 46cps.