Capitec Holdings

Capitec Bank Holdings Ltd is set to release 1H2018 results on the 26th of September 2018.

Top Line estimates

Previous guidance from the company has suggested that headline earnings per share will be between 2087 cents and 2140 cents per share, representing an increase of between 18% and 21% compared to the 1769 cents per share reported in the prior year’s comparative period ended 31 August 2017.

Average Broker Ratings (Institutional View)

The average broker rating for Capitec Bank (from a poll of nine brokers surveyed by Thompsons Reuters) is a buy. The long term price target (12 month), as gauged by a median of analyst estimates is considered at R1052,82.

IG Client Positioning (Retail trader View)

Capitec remains popular amongst IG clients with 65% of traders holding the stock (as of Thursday the 20th of September) expecting the price to rise over the near term. 57% of trading activity in the last week amongst IG clients have been on the sell side, while 53% of the last months trading activity on the stock has been on the buy side.

Technical View

The daily price chart of Capitec has pulled back from the short term high at 103200c. The pullback resembles a bullish flag formation, which is highlighted with the parallel blue lines. The long term trend remains up, while the flag formation suggests that the short term trend might be setting up to realign with this longer term uptrend. A break above the blue resistance line of the flag formation would confirm the patterns relevance. In this scenario, a move to the previous high at 103200 is favoured, a break of which further favours a move to the next level of resistance considered at 107700c. Should the price instead move to close below 90500c, the bullish indications would be deemed to have failed.

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This information has been prepared by IG, a trading name of IG Markets Limited and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. International accounts are offered by IG Markets Limited in the UK (FCA Number 195355), a juristic representative of IG Markets South Africa Limited (FSP No 41393). South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance and may not use credit or debit cards to fund their international account.

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