Grindrod above neckline of W Formation taking it higher

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 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.