Falling Flag - Breakout took place on 18 Dec 2024.
The price stayed above 200MA but lingered between the range of 20MA.
We are seeing lower highs and lower lows. WHich means a broadening formation is forming between the bulls and the bears.
There is no strong indication when the price will rally but the analysis does remain the same until the price either...
Falling Flag formed on Redefine and the price is officially breaking up and out of the range.
This is bullish for the company as the JSE ALSI is also showing strong upside to come.
We also see the 7=21 and is about to cross.
Price>200 - Bullish
RSI>50
Target 4.39
ABOUT THE COMPANY
Redefine Properties Limited is a South African-based real estate investment...
Redefine has been easy to probability predict in the last two years.
It's been on one strong trajectory down.
And after each crash, there is a relief rally to buy and profit from.
However, now we are in tricky territory.
There is a Broadening Triangle being formed which can break either way. That's the difficulty with Broadening patterns.
My bet is DOWN...
Symmetrical Triangle formed last year and the price broke below the apex.
It has been a very slow moving trade analysis, but that's what happens with blue chip companies.
The companies do what they can to fight for the price (and rightfully to do so).
21>7 >200 - Mixed
RSI <50 Bearish divergence
Target R3.20
ABOUT The company
Redefine Properties was founded...
We 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...
Symmetrical Triangle formed on Redefine.
We saw the price breakout to the downside.
21>7 >200 MAs - Mixed
RSI <50 Bearish divergence
Target R3.20
ABOUT:
Redefine Properties Limited (Est. 1980s in JHB SA) is a leading South African real estate investment trust (REIT) and one of the largest property owners and managers in South Africa.
It has a diverse portfolio...
Redefine has been coming down since November 2021.
The channel was strong and continuous. That was until last year, where the price finally broke up and out of the channel.
This entered into a sideways consolidation range -hence creating a Symmetrical Triangle.
We are still in undecided mode and so we'll need to wait for a breakout before buying.
7 =21 -...
Inv Head and Shoulders formed on Redefine which we went long.
It's been a long hold, but it's because the market has been pricing in an Cup and Handle.
This means, we can expect even more upside to come.
Target R4.83 and possibly R5.20.
Bullish
With the company working hard to sort out its balance sheet with 2 disposals in recent days, the market might be feeling a little more comfortable regarding their ability to sort out their debt and reduce the loan-to-value ratio. Technically the chart looks good putting in higher lows since bottoming out and the break of the recent horizontal trading channel...
I’m a bit more optimistic about Redefine, multiple supports and resistance being created. At worst I’m expecting the share price to hover around 340 - 347 and at best(optimistically) aiming for 390, but I’ll accept 360. I’m very optimistic about Redefine and I’m holding on to these until we possibly hit 600 hopefully by August or September.
- Price looks to have found a bottom
- Double bottom + cup/handle pattern
- Volume shows steady accumulation
- TP & SL on chart
- MANAGE YOUR RISK -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
JSE:RDF formed a massive bearish engulfing candle yesterday which is a top reversal signal. It is not technically at a "top", but it is possibly signalling the end of the retracement. I will consider a short if it confirms lower.
JSE:RDF has broken through an ascending support level and confirmed by opening and closing the next candle below it. It is looking good for a short position but I would wait for confirmation from the breakout of the fractal from 8 Jul before entering.
JSE:RDF has formed a dak cloud cover which is a top reversal signal, so we can anticipate a downward move. Bear in mind that there is also a tempting gap to fill above the current price, so if it goes up, I will enter long at the fractal from 3 June.
I have entered a long position on JSE:RDF as it had formed a bullish harami on Friday which often signifies a reversal. It traded higher this morning and triggered my order.
Aiming for the significant resistance zone around the 1050 area.
