Well after the long weekend markets are looking rather bullish but dont let this fool you into just buying anything , the markets will suck you in & spit you out. This is a time to be very cautious , markets are very top heavy & the slightest bit of bad news will ensure a decent pull back. That being said I am looking to purchase 2 shares this week the 1st being SHP ( shoprite ) & the 2nd being SHF ( steinhoff ). SHP has had a nice pull back with all the other retailers but is still the strongest choice amongst the food retailers producing great results.
SHP:
Entry: 74.00
Target: 80.00
Stop loss: 71.50
Please note you should create your own targets &; stop loss strategy as only you will be able to feel when it is time to sell depending on your investment plan.
SHF is technically moving through its cycle & at the moment it is at the bottom of its cycle sitting on a low pe of 8.02. It is a fundamentally a good company & always a good purchase.
SHF:
Entry: 19.50
Target: 22.00
Stop loss: 18.50
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