Small bull flag in the making. Buyer has been collecting stock at R105. Stop loss below previous lows at R103. First target at R110 with full target at R115
Since the 7th of September Remgro has been making a series of higher lows off the support line in blue with price meeting the upward resistance lines in pink around the R101.30 - R104.60 area. On a fundamental basis, the last set of financial results published for the period ending 30th of June 2020 showed an intrinsic NAV of R154.47 per share which would imply...
Update on $JSEREM, it just broke out for a long next target R118
Remgro remains one of my favourite “SA Inc” type of company by a country mile. Even after a 16% run over the past week, still leaves the company trading at a current discount to its intrinsic value of over 40% (compared to an average 10-year discount of 15.6%). We therefore firmly believe in the longer-term opportunity REM offers, even at current prices. Also,...
JSE:REM has been trading in a consolidation since July. It is currently around the top of the consolidation area and is showing some signs of upward momentum. If it breaks out through the top, we could see a bit of an upward move - possibly even going up high enough to fill the gap from the 3rd of June. I am waiting for a confirmation of an upward breakout before...
The bulls seem to be defending the 82-84 zone well.The convincing break of weekly tenkan is very encouraging and might result in price hitting Kijun (which is the target). The lagging is free to move. Entry: 9410 SL : 7909 TP : 11 699 RR : 1.5
I'm a big fan of this set up. The lack of effort leading up to the breakout and 3 thin real bodies showing not much supply coming to this market. A retest of breakout on the 2nd day has given a chance to enter if the breakout was missed. Potential target could be 11846. We also note the large unfilled gap. Stop - 8864 or a tighter one just below the breakout candle.
A decent cup and handle pattern on Remgro. The share looking quite bullish at the moment. perhaps we could see the gap close
Remgro looks like its starting to gain a bit of momentum. We initially had the 3 white soldiers now, we have a bullish flag. perhaps the share is looking to close the gap. WE wait and see
We need to go back and close that market gap and H&S will help us with that!!
Seems like I am a bull in a bear market today. Although there is a gap to fill to the upside, I feel the short term trend is still negative. Stochastic is overbought, and price is against a strong downward trend line. I will sell at 9297, with a short stop of 9705 and a small target of 8295.
JSE:REM WE have the three white soldies on Remgro. break above 9636c we could that gap fill
Remgro still has a good undervalued Portfolio, I will wait for the actual earnings to get some see-through on the NAV. If you believe SA can recover this is one to own.
Analysis & trade summary on chart
Entry - Break and close above 13097 Stop - 12265 1st Target - 13853 2nd Target - Around 14500 where the 50 Day moving average comes in.
a short term recovery is possible on this company as it bounces off a key level
Lets see if this resistance will turn into support then we go up