The W Formation target reached at R12.60. We then had a skew Cup and Handle, which the price has broken above its brim level today. It's another High Probability position as the Price>20 Price>200 Next target will be at R14.40. WIll update you on anything if it changes.
Grindrod (GND) is an international freight and financial services company operating in twenty-eight countries. In mid-June 2018, Grindrod unbundled and separately listed its loss-making shipping division, Grinship (GSH), which explains the significant drop in share price at that time. Post-unbundling, Grindrod has concentrated on its two core divisions: freight...
See link below for previous analysis. I am updating wave 5 to an ending diagonal aka rising wedge. Price can still make new highs but MACD/price divergence is a clear sign that upward momentum is waning. I am still bullish to neutral as I am forecasting two more waves to complete the ending diagonal.
Looks like a nice area to get long for the next move higher.
Grindrod recently came out with a very good set of interim results reporting record export volumes at its Maputo port and growth in excess of 20% in revenue and headline earnings. A purely fundamental reasoning would suggest one should buy the stock now. A look at the Elliott Wave structure from the April 2020 low shows a need to be cautious. The rally from April...
On our analysis of JSE:GND on the 28th of August, we saw how price was in the last phase of a bullish penant on the Weekly Chart. price had left a gap around R10.00~R10.20 levels that has to be closed before confidence can be put into any further upward movement, although the presence of a rising tripple bottom on the daily time frame with a bullishly broken...
Grindrod (GND) is an international freight and financial services company which operates in twenty-eight countries. In mid-June 2018, Grindrod unbundled and separately listed its loss-making shipping division (Grinship - GSH). This accounts for the "cliff" in the share price at that time. The company is now focused on its two remaining divisions - freight and...
W Formation formed on Grindrod since March 2023. And the price has finally broken above the neckline. This gives a decent signal that there is upside to come from the buyers. Other indicators confirm too: 7>21 Price>200 RSI>50 Target 1 will be with a Risk to Reward of 1:2 at R12.60 ABOUT THE COMPANY Diversified Group: Grindrod Limited is a South...
JSE:GND has had an unbelievable turnaround in its share price. In june 2014 the share price kissed its tripple top resistance goodbye and the price took a massive beatdown. Price found some support in the R9.56 ~ R10.60 zone, which it then broke and immediate started a falling wedge. The falling wedge played out beautifully and price formed a cup back to the...
A price action above 970 supports a bullish trend direction. Increase long exposure for a break above 1000. The first target is at 1020 (78.6% Fibonacci retracement level). The second target is at 1050. Stop-loss is at 960. Testing its 200-day simple moving average, which might act as major support. Earnings are due on 25 August 2023.
I'm anticipating an inverse H&S pattern on this stock over a long term. The channel will provide a critical support levels from which we expect the stock to bounce.
A price action above 1070 supports a bullish trend direction. This is also the ideal entry price range for a long position. Increase exposure for a break above 1100. First profit target is set at 1130. Second profit target is set at 1170 (upper range of the linear regression channel pattern). Stop-loss for a break below 1060. The price action might progress upward...
A bullish trend is applicable. Ideal long entry around 1050. Increase exposure for a break above 1100. Target price is set at 1140. Stop-loss at 1030. Negate the bullish bias for a break below this level. I like the potential repetitive fish-hook pattern. Remains a risky trade.
A typical Elliott wave count is unfolding. A corrective wave back to 760 and 520 seems likely. A break above wave b which is around 1150 will negate the wave count. The Elliott Wave theory is a theory in technical analysis used to describe price movements in the financial market. Waves can be identified in share price movements and in consumer behavior. Investors...
- The powerful uptrend and channel has broken down on Grindrod together with the 20ema crossing below the 50ema, first time since January 2022 where it began its rally from R4.50 - I would be cautious to the long side aalthough corrective pullbacks are likely. - Next supports is R7.92 and the 200dma at R7.30 .
JSE:GND , following a good run, has pulled back to a rising, probably flattening, 30 MA. Can play the dip, keeping in mind that most of the dips kept on dipping.
drindrod is the hottest kid on the block right now a strong move up to fill the gap is pretty much intact
My GND long idea is higher by 52% over the 11 months. It looks like the upward momentum is in place, however traders who have been in from the 470c level could use the higher levels to partially reduce. NOT saying it can't go higher! I just like when my clients to bank profits:) Original idea attached.