Growthpoint’s Golden Cross Currently trading within a year-long base/consolidation range, Growthpoint Properties (GRT) has developed a golden cross technical signal whereby the 50-day Simple Moving Average (SMA) crosses above the 200-day Simple Moving Average (SMA). This suggests a potential change in trend and an acceleration on the short term time frame....
First such signal since March 2019
Growthpoint Properties managed to close above 1375 resistance. Long Targets are 1480 and 1600.
JSE-GRT: Broke the NL 1210 and looking for 1284 as full TP
Growthpoint building base here, getting above the trendline and the 50 day (blue line) will be bullish.
We had a false break on growth point as well. Seems like the worse isn’t over just yet for the property stock. I’m looking for a close below 1026c targeting 746c. Should be interesting to see if the trend channel resistance holds as new support or the share trades back into the range.
GRT seems to still be comfortable on this down channel, lets see if they will finally break it!!
- Property stocks have not been getting any love from investors - Growthpoint looks set to test the March 2020 lows - NO POSITION -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Growth point givings with a Bearish flag. Target still remains the width of the symmetrical triangle
$JSEGRT the one to watch, for a long once hit resistance.
JSE:GRT - Breaks below the rising trend line on intraday basis (1178). Opens up 1130 on the downside
Good news on Growthpoint has decided to pay a 40c dividend as the final Dividend.
A break above the resistance cluster here could offer a good long entry.
$JSEGRT about to break the resistance on the upside
a short is still favored on Growth Point as fundamentals and aftermath of COVID-19