$JSEPPC - PPC Ltd: A Turn Around Story On The Horizon?
To say a lot has happened at PPC over the last two years would be an understatement.
The group has sold of a few non-core assets and most importantly, slashed its debt load.
The fundamental picture in South Africa is starting to look positive on the infrastructure spending front.
From an EWP perspective, from the November 2020 low of 43 zac, the share rallied in five waves to peak at R5,91.
The correction from that peak has thus far unfolded as a double zigzag (w)(x)(y).
The bounce from R1,86 has unfolded in three wave so far and is tentatively labeled (x)?.
Until we get a clear five wave advance, its best to sit on your hands for now.
As long as price holds above 43 zac, the bullish wave 1-2 outlook remains valid.
The group has sold of a few non-core assets and most importantly, slashed its debt load.
The fundamental picture in South Africa is starting to look positive on the infrastructure spending front.
From an EWP perspective, from the November 2020 low of 43 zac, the share rallied in five waves to peak at R5,91.
The correction from that peak has thus far unfolded as a double zigzag (w)(x)(y).
The bounce from R1,86 has unfolded in three wave so far and is tentatively labeled (x)?.
Until we get a clear five wave advance, its best to sit on your hands for now.
As long as price holds above 43 zac, the bullish wave 1-2 outlook remains valid.
