NEPI Rockcastle owns and manages a portfolio of dominant retail properties in the following high-growth CEE countries: Romania, Poland, Bulgaria, Slovakia, Hungary, Croatia, Czech Republic and Serbia. The Group benefits from a highly-skilled internal management team which combines asset management, development, investment, leasing and financial expertise. Geographically diverse management skills allow NEPI Rockcastle to pursue Central and Eastern European (CEE) property opportunities more efficiently, benefiting from a strategic advantage in the acquisition, development and management of properties. The Group is well positioned for growth, driven by its best-in-class operating platform, as well as its historically proven capacity to deploy existing capital resources into attractive direct property investments. NEPI Rockcastle continues the active investment policy that supported the growth of NEPI and Rockcastle respectively over recent periods, with a strong pipeline of acquisitions and developments currently being pursued in its targeted region.
NRP is however part of a large trading scandal where they were accused of overstating profits and have taken big hits in terms of share price.
Technicals There are two options here but both setups indicate that there should be further downside.
Option 1 Here we can see the initial impulse move to the downside on the left and I expect the second impulse to complete to the downside at a target price of around 3000. The corrective structure completed 4 waves and broke to the downside and is now on the retest level which means that the second impulse could begin shortly.
Option 2 The same initial impulse move applies but we could see the formation of a larger correction as indicated above. The break to the downside for impulse two will have the same target as option 1 and could occur on wave 4 or alternatively after the completion of wave 5 to the top first.