Close to the bottom of this channel and support. A small position can be taken with a top of channel target. Very volatile, stick to stop losses.
Local property, in general, has been struggling for the past 2 years, with good reasons. I just finished my report (will publish here soon) on the sector and although many of these reasons still persist, there are some reasons to slowly but surely put the sector on your personal "BUYING-RADAR". My personal preference still lies with the biggest counter in the...
Growthpoint has been undergoing distribution since 2013. After an upthrust after distribution (UTAD) and last point of supply (LPSY) the trading range has now been broken and the markdown is gaining momentum. (See posts below following the markdowns start)
Growthpoint Properties – Breaking down from a key level here. See the Triple Top technical formation? Lowest monthly close in 7 1/2 years.
JSE:GRT is trading at a previous support level from all the way back in December 2015. If it fails to break through this level, we could possibly see a retracement or a reversal. I will keep an eye on this one for a possible long opportunity.
Patiently following the distribution of Growthpoint (see posts below). Last week was a high volume down week indicating that the decline could gain momentum and break below the trading range (TR).
JSE:GRT is showing a descending triangle pattern which is a neutral candle pattern. Depending on the breakout, we could be looking at a move in either direction. Keep an eye on this one for when it breaks out.
$JSEGRT pushes below the rising support trend line that's been in place since beg of Oct 19
JSE:GRT formed a gap between the 1st and 2nd of October that it looks like it might fill soon. Gaps are generally quite tempting to close for traders. The stochastic seems to be turning up, which is also a sign of a possible reversal. Keep an eye on this one for confirmation of a long position.
Following the larger distribution trading range (TR) of Growthpoint (See link below) in Wyckoff speak we are falling through the ice. This the markdown in Phase D taking place. We are now looking for a break of the trading range (TR), a backup (BU) and then the markdown to start in Phase E is expected to start.
JSE:GRT bounced off of a support level earlier this week and it has broken through a fractal level that it has been struggling with. It is looking good for a long position.
Lets have this baby go up again while we are awaiting a breakout on this rising flag!!
I know local property has been the “ugly stepsister in the family” for the past year or so, but Growthpoint is looking like a nibble. Since September last year (2018), the share price found support around the R23 levels. With the recent pullback in both the market and Rand, we’ve seen the share price back at the R23 levels and extremely oversold according to its...
JSE:GRT is showing a piercing line pattern which is a bottom reversal pattern. Definition of Piercing Line: After a preceding downtrend, the green candle opens below the previous days close and closes above 50% of the previous red body. The candles MUST be different colours.
A close back in the channel for Grindrod looks like we might see a bottom forming here
Growthpoint has been in a trading range since 2013. After a good uptrend, there was a throw over of the upward stride and a climax formed. The volatility to the downside has increased and Signs of Weakness (SoW) can be seen. Now after an Upthrust after Distribution (UTAD) and a test we have now seen a Last Point of Supply (LPSY). Looking for a high volatility...