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Grindrod above neckline of W Formation taking it higherW 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 African company with a diversified business portfolio spanning various industries, including shipping, logistics, financial services, and trading. Establishment: The company was founded in 1910 and has its headquarters in Durban, South Africa. Bulk Commodities: The company specializes in transporting bulk commodities such as coal, iron ore, agricultural products, and more. Container Shipping: Grindrod operates container shipping services, facilitating the movement of goods in containers between Logistics Solutions: Grindrod provides integrated logistics solutions, including warehousing, distribution, and supply chain management services. Financial Services: Grindrod Bank, a subsidiary of Grindrod Limited, offers a range of banking and financial services, including personal banking, business banking, and asset management. Rail Services: The company has a presence in the rail sector, providing rail services for the transportation of goods and commodities. HOW IT GOT ITS NAME Grindrod Limited, the South African company, was named after its founder, Charles Grindrod. Charles Grindrod was an influential figure in the company's early history. He established the company in 1910 as C. H. Grindrod & Company in Durban, South Africa. The company initially focused on shipping and maritime operations.
JSE:GNDLong
by Timonrosso
UPDATE Sanlam hit our price target and still heading upSince the last update, Sanlam formed a Falling Wedge, The price broke up and out of it and headed up. Then the sellers kicked in and tried to bring the price back down. However, the new established support was proven to be what kept the bulls strong. This was also a great opportunity to go long and buy the conservative entry level. Before we knew it, the price headed straight to its first target of R63.69. So what now. Look the trend is up, the JSE is up. So might as well stick with the trend and look for the next buying opportunity. But I'll let you know.
JSE:SLMLong
by Timonrosso
UPDATE: Old Mutual heading to target 1 and next target is...Falling Wedge formed on Old Mutual and the price broke up and out of the pattern. Since then it's been going to our first target of R12.61. It is still on course. Last few weeks, OMU has formed a W Formation (another breakout pattern). Once the price breaks this one, the next target could be as high as R13.38. Other indicators confirm upside to come: 7>21>200 RSI>50 Target 1 -> R12.61 Target 2 -> R13.38 SMC: Above the W Formation is a Break of Structure to the Upside. This is when the price breaks and closes ABOVE the wick of the previous HIGH in an UPTREND. ABOUT THE COMPANY: Origins: Old Mutual is a multinational wealth management company originating in South Africa. Founded in Cape Town in 1845, it's one of the oldest existing financial services companies in South Africa. Expansion: Since its establishment, Old Mutual has expanded to operate in 14 countries across two regions: Africa (including South Africa) and Asia (including China). Services: The company provides a broad range of financial services, including life assurance, asset management, banking, and general insurance. Managed Separation: In 2016, Old Mutual announced a "managed separation" strategy that aimed to separate its four main businesses into standalone entities. This resulted in the creation of four independent businesses: Old Mutual Limited, Quilter plc, Nedbank Group, and Old Mutual Wealth. Employment: Old Mutual employs over 28,000 people worldwide.
JSE:OMULong
by Timonrosso
UPDATE Redefine hit R3.20 Target and could turn up from hereWe based the short trade off a Symmetrical Triangle. The price broke below and then took quite a while, but eventually hit the target at R3.20. Now there is a new Cup and handle formation in the process. The 7 has crossed above the 21MA and there is a higher low creating an uptrend. We need the price to break before we can expect a relief rally to the 200MA to R3.90. ABOUT THE COMPANY Redefine Properties is a real estate investment trust (REIT) based in South Africa. It was founded in 1999, making it one of the older established REITs in South Africa. Redefine Properties' portfolio included a diverse range of primarily commercial properties, such as offices, retail spaces, and industrial properties. The company has made significant investments outside of South Africa as well, with assets in Australia, the United Kingdom, and Poland. Redefine Properties managed assets worth over R90 billion. Some of the properties include: Rosebank Towers. Jozie. 90 Rivonia, Sandton, Johannesburg. Mall of the South, Johannesburg: Centurion Mall, Centurion: Matsulu Shopping Centre, Mpumalanga:
JSE:RDFLong
by Timonrosso
Cashbuild about to crash to R100.00Right now it's anyone's guess. The market has been so illiquid with low volatility, that the only signs are pointing are down. Box Formation (but not a strong one as three supports and resistances have not touched). However, there is a range bounded movement with lower highs and very little confirmation of upside. It needs to break out of the downtrend before we look to any potential longs. Price<200 - BEarish RSI - lower highs - But classical range for RSI with low moving stocks. Target 1 will be to R100 Low probability trade ABOUT THE COMPANY Cashbuild is a South African retail company specializing in building materials and related products. Cashbuild was founded in 1978. Its first store was located in Pretoria West, South Africa. The company operates in the southern African region, including countries like South Africa, Namibia, Lesotho, Botswana, Swaziland, Malawi, and Zambia. Cashbuild operates over 260 stores across the regions it serves. The company follows a business model where they operate in both urban and rural areas, especially in the lower-income regions. This business model allows the company to reach and serve customers who might not have access to such stores otherwise. Cashbuild is known for being a one-stop-shop for a wide range of high-quality building materials, like cement, bricks, paint, timber, plumbing, and sanitaryware, at affordable prices.
JSE:CSBShort
by Timonrosso