More Upside Before The Next Wave Down

2019年2月28日

Pepkor Holdings Ltd. is a diversified retail group that has a significant footprint in Africa that is listed on the Johannesburg Stock Exchange. With over 5100 stores in 12 countries, Pepkor is truly a retail giant in Africa. The group has 17 store brands over the retail industry, ranging from affordable quality clothing outlets to high-class furniture outlets. The group supplies an extremely wide range of products over various retail sectors. It is their vision to supply African consumers with all of their basic needs and through their various stores, they are not too far from reaching that goal. Pepkor Holdings owns Incredible Connections, HiFi Corporation, Tekkie Town, Timbercity, Rochester and of course Pep (to name but a few).

Technicals

Looking at the weekly time frame, I am expecting price to break the high of wave 1 before starting wave 4 to the downside.


The H4 chart shows a corrective structure which broke to the upside. This ties in with the weekly view that there is more upside to come.