We haven't had our breakout yet but it's most definitely forming higher lows. ANd it's above the 200MA with a predominant uptrend.
This is all great news for potential upside.
We'll set the first target at R6.03
FUNDAMENTALS:
Calgro M3, a South African property development company, has been experiencing a rally in its stock for several reasons:
Impressive Financial Performance: Calgro M3 reported strong financial results for the fiscal year ending in February 2023.
This included a significant increase in earnings per share and overall revenue, demonstrating the company's ability to generate sustainable profits and manage costs effectively.
Robust Revenue Pipeline:
The company has a solid revenue pipeline in residential property development, with a forecast of R15.9 billion.
This includes over 22,000 opportunities and the inclusion of a major development project, Frankenwald, which is expected to add at least 20,000 opportunities.
Successful Residential Developments:
Calgro M3 has been successful in its residential property development segment, with a large number of completed and under-construction opportunities.
This success is a key driver of the company's revenue and growth prospects.