Grindrod (GND) is an international freight and financial services company operating in twenty-eight countries. The significant change in the company's structure came in mid-June 2018, when it unbundled and separately listed its shipping division, Grinship (GSH), leading to a notable drop in its share price. Post-divestiture, Grindrod's focus sharpened on its...
The W Formation target reached at R12.60.
We then had a skew Cup and Handle, which the price has broken above its brim level today.
It's another High Probability position as the
Price>20
Price>200
Next target will be at R14.40.
WIll update you on anything if it changes.
Grindrod (GND) is an international freight and financial services company operating in twenty-eight countries. In mid-June 2018, Grindrod unbundled and separately listed its loss-making shipping division, Grinship (GSH), which explains the significant drop in share price at that time. Post-unbundling, Grindrod has concentrated on its two core divisions: freight...
See link below for previous analysis.
I am updating wave 5 to an ending diagonal aka rising wedge.
Price can still make new highs but MACD/price divergence is a clear sign that upward momentum is waning.
I am still bullish to neutral as I am forecasting two more waves to complete the ending diagonal.
Grindrod recently came out with a very good set of interim results reporting record export volumes at its Maputo port and growth in excess of 20% in revenue and headline earnings.
A purely fundamental reasoning would suggest one should buy the stock now.
A look at the Elliott Wave structure from the April 2020 low shows a need to be cautious.
The rally from April...
On our analysis of JSE:GND on the 28th of August, we saw how price was in the last phase of a bullish penant on the Weekly Chart. price had left a gap around R10.00~R10.20 levels that has to be closed before confidence can be put into any further upward movement, although the presence of a rising tripple bottom on the daily time frame with a bullishly broken...
Grindrod (GND) is an international freight and financial services company which operates in twenty-eight countries. In mid-June 2018, Grindrod unbundled and separately listed its loss-making shipping division (Grinship - GSH). This accounts for the "cliff" in the share price at that time. The company is now focused on its two remaining divisions - freight and...
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...
JSE:GND has had an unbelievable turnaround in its share price. In june 2014 the share price kissed its tripple top resistance goodbye and the price took a massive beatdown. Price found some support in the R9.56 ~ R10.60 zone, which it then broke and immediate started a falling wedge. The falling wedge played out beautifully and price formed a cup back to the...
A price action above 970 supports a bullish trend direction.
Increase long exposure for a break above 1000.
The first target is at 1020 (78.6% Fibonacci retracement level).
The second target is at 1050.
Stop-loss is at 960.
Testing its 200-day simple moving average, which might act as major support.
Earnings are due on 25 August 2023.
I'm anticipating an inverse H&S pattern on this stock over a long term. The channel will provide a critical support levels from which we expect the stock to bounce.
A price action above 1070 supports a bullish trend direction.
This is also the ideal entry price range for a long position.
Increase exposure for a break above 1100.
First profit target is set at 1130.
Second profit target is set at 1170 (upper range of the linear regression channel pattern).
Stop-loss for a break below 1060.
The price action might progress upward...
A bullish trend is applicable.
Ideal long entry around 1050.
Increase exposure for a break above 1100.
Target price is set at 1140.
Stop-loss at 1030. Negate the bullish bias for a break below this level.
I like the potential repetitive fish-hook pattern.
Remains a risky trade.
A typical Elliott wave count is unfolding.
A corrective wave back to 760 and 520 seems likely.
A break above wave b which is around 1150 will negate the wave count.
The Elliott Wave theory is a theory in technical analysis used to describe price movements in the financial market. Waves can be identified in share price movements and in consumer behavior. Investors...
- The powerful uptrend and channel has broken down on Grindrod together with the 20ema crossing below the 50ema, first time since January 2022 where it
began its rally from R4.50
- I would be cautious to the long side aalthough corrective pullbacks are likely.
- Next supports is R7.92 and the 200dma at R7.30 .
JSE:GND , following a good run, has pulled back to a rising, probably flattening, 30 MA.
Can play the dip, keeping in mind that most of the dips kept on dipping.
