Growthpoint (GRT) is South Africa's largest real estate investment trust (REIT) with a primary listing on the JSE. Prior to COVID-19, it consistently grew its dividends 3% above the inflation rate on average over the last 15 years. The company owns 434 properties in South Africa worth R71bn. In addition, it has a 62.2% interest in Growthpoint Properties Australia...
I think once can accumulate Growthpoint between 1020-1030 for an eventual pop to 1070, 1090 and 1110 (200day ma). There is some forced selling due to the MSCI index rebalancing but once this is over the stock should get some legs again. If buying use a stop loss as a close below 1000.
the 20dma which was previously resistance has now turned into support and the...
After going ex-div and dropping to a low of R 9.14 a relief rally is possible here to test the down trending 20/50ema
This is a counter-trend trade (reversion to the mean)
MACD crossover
RSi divergence
Falling wedge breakout
Stop-loss below swing low R9.14
A Monthly chart here with an enormous Head & Shoulders pattern, with the neckline even slightly sloping to the right. If the price stays here until month end, the neckline will definitely be broken to the downside and perhaps share holders should start giving some serious attention to this, if not concerned yet. Their luck will be that at least the price cannot...
Growthpoint is showing 2 opposing scenarios, a bullish downward slopping parallel channel depicted by the pink lines and a bearish rising parallel channel depicted by the black lines. Price fell out of the rising parallel channel and is now backtesting it from below where it meets the 30 week moving average, if we convert the chart to a daily timeframe we see that...
Stock goes ex dividend of 65c on the 18th of October. At current prices that is a dividend yield of approx 6.5%! Given the doji candlestick, reversal after 2 days of elevated volume, i have every reason to feel like a short term bottom is in here which could see the stock rise into the dividend date next week Wednesday. my two targets are the 23.6% and 38.2% fib...
Another stock at its 52-week low and reaching the next previous support level around R10.40
R11.50 is now major resistance which needs to be overcome if bulls want to reverse this back towards the 200dma.
Below R10 things could get ugly. (S2 pivot support at next wing low).
Growthpoint (GRT) is South Africa's largest real estate investment trust (REIT) with a primary listing on the JSE. Prior to COVID-19, it consistently grew its dividends 3% above the inflation rate on average over the last 15 years. The company owns 434 properties in South Africa worth R71bn. In addition, it has a 62,2% interest in Growthpoint Properties Australia...
Capital 98%
Risk on trade - 1%
Expected Return - 2.5%
Trades are fictional and conducted for portfolio building purposes.
Strategy: Multi-Timeframe Market Structure Long Model
Pure technical strategy to capitalise on order-flow trends.
Growth-Point had a false breakdown out of the rising wedge. It is now expected to backtest the trendline forming a triangle with the lower support line. This backtest is worthy of long position with expectation that price will trend towards the upper resistance of the rising wedge.
W Formation has formed on the property company over the last 3 months.
Today we are seeing a strong breakout to the upside.
Also, the downtrend has broken and the price has moved into a bull market showing strong momentym up.
Other indicators show upside to come:
7>21 Bullish
Price<200 - Bearish but, price action is showing upside to come.
RSI>50
Target...
The last update on Growthpoint was on 27.11.2022 and price has respected the triangle rules.
Price pushed a little further up from the day of the analysis but remained below 1610.
From March 2020, the sideways move is best labelled as a contracting triangle for wave 4 and price is now pushing down to complete wave 5 of (C).
The large structure from May 2013 is...
A price action above 1170 supports a bullish trend direction.
Confirmation for the bullish trend above 1200.
The target level is set at 1250 (200-day simple moving average).
The stop-loss level is at 1130 (lower range of the linear regression channel pattern).
MACD (lower panel) gave a bullish crossover, confirming a change in trend direction to bullish. This...
H&S formed on Growthpoint.
We mentioned this was one of those low probability trades.
However, the overall trend won (as most of the time it does) and down it went.
The target hit at R11.88
And unfortunately, I see further downside to come.
LOADSHEDDING AND PROPERTY COMPANIES!
It seems like the 6 hour - 12 hour day Eskom load shedding is having...
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Note that this view might be in contrast to the higher time frames (weekly/monthly) which suggest a downward/weak trend . Preferred entry at 1172c or slightly lower. At current levels, the share may be in the early...
What was a low probability trade has turned into an extremely high probability trade.
The H&S broke below the neckline.
We then had all other signals kick in bearish.
21>7 - Bearish
Price < 200 - Bullish
RSI<50 - Bearish
Target can easily be R11.88
