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BID CORPORATION LTDBID CORPORATION LTDBID CORPORATION LTD

BID CORPORATION LTD

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BID trade ideas

$JSEBID - BID Corp: Finally Catches A Bid And Then Some...Bidcorp stock has been underwhelming since listing, generally moving sideways in choppy fashion and as a result has not been in my watchlist, until now. From September 2022, the share price started to rally in an impulsive manner and on the 1st of February 2023 released a positive trading statement expecting HEPS and EPS to increase between 43% to 49%. The market loved the news and the share continued its rally. What is clear from an Elliott Wave point of view though is that from the September 2022 low of 27500 zac, the stock has traced a five wave impulse and is therefore due a pullback in three waves. With the release of its results for the half year ended December 31st 2022 on or about February 22nd 2023, I will sit on my hands and not chase momentum until i see a clear three wave pullback before joining the bulls.
JSE:BID
by Loyiso_BlaqueSoros_Mpeta
BIDCORP: ShhortFirst of all...How does this price even make sense? But besides that, we now have a bearish reversal candle (long upper tail, failed high) at over-bought levels as well as a potential double top scenario. We may be betting against the trend here (which we are) but surely sanity must prevail. I am of the opinion that we are beginning to see the start of some profit taking and I wouldn't be surprised if we saw a retracement to at least 330.00 where it was just the other day (27th December). We have shorted today's close and looking to make about R19.00 on the trade.
JSE:BIDShort
by RobbyP
Bidcorporation still in the Twilight-zoneIt definitely can seem tempting to buy (go long) a stock like Bidcorp as by theory it's broken above the Cup and Handle pattern and the moving averages look great 7>21 >200. However, it's also good to look at the broader picture of price action. Bidcorp has been moving in a sideways rectangle formation since February 2021... I think only above R30.00 will give me some semblance of hope of a new bull run... Until then, I'm hesitant to go long.
JSE:BID
by Timonrosso
2
BID Trade Idea UpdateBID Corp - Trade Idea Update (Buy/Long, 03 October - see attached) Now trading +15% (ungeared) with massive upside follow-through on the back of this morning's capital markets trading update. Going forward, two levels to monitor: 1. The 61.8% FIB - thus far, the market has pushed the price through this zone. 2. Approaching 2x standard deviation over 200 days (upper boundary). This is around 32700c-33000c. Initial buy was at 2x to 2.5x std deviation on the downside If still long, one could use the strength to bank/take profit.
JSE:BID
by techpers
BID Corp: A +900c Cash Flow TradeDid you manage to get your hands on some BID Corp? My pre-market plan (published on Sunday 18/07) highlighted BID as a buy at the 50-EMA, with comment as follows: Bid Corp (BID, 31833c) | Coming into last week we considered the potential for an overshoot followed by a retracement. The share has since retraced moderately, with the 8-EMA losing upside momentum while the 21-EMA continues to trend higher (minor support). The candle structure is weakening however we consider the 50-EMA (now ~30648c) as a provisional ‘next accumulation zone’. This is also in line with the 50% Fibonacci Retracement. On Monday & Tuesday we saw the share rebound off this level, withe follow-through on Wednesday to above 31500c for a +900c gain. Note, the price also exceeded our most recent short target range of 313-316. Our clients have access to these and other opportunities. Get in touch today.
JSE:BID
by LD_Perspectives
BID CorpProvisional plan going into next week. The share has surpassed our buy/long target range of 31200c to 32000c from the suggested entry of 29300c, having tested it's highest level since February 2020. While the price remains in an active sequence above a rising 8 and 21 day EMA, the 7-day RSI is strong but nearing 'near overbought' territory. Having advanced from a low of 27169c on 13 May to Friday's high, we question whether the short term trend is becoming overextended and whether there is an opportunity for tactical short sellers to generate cash flow? Consider the following (only applicable early in next week): the share may trade above Friday's high however, if the high does not hold then it may create a tactical short/sell down to the 31300c/31600c range. It may continue higher so I'll be monitoring in real-time (for clients) for the best entry (no 'short' tag added to this idea as yet). Price at time of publication: 32743c
JSE:BID
by LD_Perspectives