The stock is currently in a short term up trend and testing its 52 week highs.
Volume is encouraging and we possibly formed a cup and handle formation which could propel it further. The hurdle to pass is the swing high at R2.64.
SA Corp (SAC) owns a group of 199 industrial, retail, storage, residential and office properties in South Africa plus a 50% stake in a joint venture in Zambia with 3 properties. The bulk of this portfolio is in retail (43%) and industrial (28%). The company has problems across its portfolio, and especially in its office and industrial properties where it has been...
A bearish trend is applicable and the ideal short entry is a price action close to below 236.
Increase exposure for a break below 228.
Stop-loss set at 250.
Profit target set at 210. (wave C of the Elliott wave analysis).
Since SAC has appointed a new COO, will it give a boost on its share value? Anyway, technically, we having a head and shoulders formed. Which might take us to R2.20
Besides the technical analysis, the other property companies have made big recoveries since march, looks to me that SAC is about to get its time to shine!
The premise for this analysis is hinged on the monthly Ichi. The Monthly tenkan is acting as a good support and last Month tried but failed to break through. This month we tried again and were repelled. As such i would buy this and put my 1st tp at about 350.
Entry: Yesterdays close at 323
SL: Put it at at 15unit below the daily SSB level so around 290
TP: 350
$JSESAC has taken while to set up pattern and share price is heading in the right direction BUT the formation is not complete yet
Looking for a close above 340/2 to confirm the full set up (Watch list for now)
