JSE:NPK is South Africa's leading diversified packaging manufacturer. As of basic knowledge due to lockdown regulations economic growth has been slower across the world. JSE:NPK also took a great loss due to this pandemic.
Fundamental positives : - Gross Profit Margin : 30,34% ( Relatively Strong ) - Current Ratio : 1,36 ( They have enough current assets to manage short term debt ) - Price/Book Ratio : 0,10 ( They are undervalued because the ratio is below 1 )
Technical Analysis : - JSE:NPK has recently started to move in a upward parallel channel - The support line has a steeper climb than the resistance trendline indicating stronger bullish movement
I would recommend to set Take Profit targets at R2,28
Always use Risk Management when entering a trade .
Are you saying R145 is a good entry point. I can’t see a bullish signal. On the one hour it’s still looks in the downward trend. I’m new so just very cautious and know nothing. But the trade looks awesome if I could get the right entry point.
OT_Forex
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R1,45 not R145 - The long term trend is bearish but the one hour timeframe is very short term and the rising support trendline is steeper than the falling resistance trendline. I believe this is a cheap price for a small upward break