RMI has been trading in a defined channel for 255+ trading days. Bottom of the range is roughly around the 2900 level and top of the range at around 3360. Top of the range has been reached, and overhead resistance could be difficult to be breached. Short position could potentially be attempted if resistance levels can't be breached.
RMI is one too watch here as it moves above the Weekly 200EMA, perhaps breaking out of the range its been trading in. A close above 3355 on the weekly chart will be continued bullish momentum for price.
Looks like it's developed a flag in recent weeks. Also, breached the downward trend line extending back the 11 Nov 2020 highs. Has traded sideways for an extended period but now appears to be eager to advance. Can make a push to the late 3500's, then +3680, then 3800c over the medium term. Stop: 3130c.
Both daily and weekly RSI's in a bullish regime.
Current: 3292c
This share has been stuck in a trading range between 3360 and 2930 for 280 days. A break above 3360 will be quite an achievement and would indicate a target of 3800 to a level where strong resistance could be met. Currently this one is good for a watchlist only.
Rand Merchant Investment holdings moving in a sideways channel for some time now. Building a big right shoulder on this inverted head and shoulder formation. Since stochastics are in no mans land i will not enter trade quite yet. You could buy at the bottom of the channel and wait or buy at the breakout to the top which will also breach the 200 day MA, and confirm...
We had a nice bullish divergence pattern on the stock. The share since made higher lows and ultimately forming a head and shoulders pattern. To add to the wind the right shoulder formed an ascending triangle pattern. I;m looking for a break above the 3278c neckline. My minimum target on the trade is 4804c
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We have a nice looking inverse head and shoulder pattern on Rand merchant. The formation of the left shoulder and the head, also saw the share had a bullish divergence. I’m looking for a break above the neckline at 3278c. The 30w EMA is looking to cross the 60w EMA (my trend indicators).
JSE:RMI is trading in a neutral triangle pattern for now, but a breakout could be imminent. Depending on the direction of the breakout, we could be in for a nice move. I will keep an eye on this one before making any decisions.
Following Rand Merchant Investments distribution and markdown (see posts below) since 2018 price has marked down significantly. Volume has been increasing on declines and decreasing on increases. RMI is weaker than the market. Price is now approaching a significant volume node from the previous markup. However, there has been no significant volume spike indicating...
There is a trendline that seems to be getting respected from end of August. I expect this to continue and will turn last weeks 3 bearish daily candles into bulls this week. Also supporting this thesis is the fact that on the monthly we seem to be getting rejection from a support area that was initial resistance broken in April 2014.
Entry: 3 small positions...
RMI has undergone distribution and is now in the markdown phase (see posts following distribution below). The expectation is for the markdown to continue after the recent correction.
I have been following the distribution of Rand Merchant Inv play out since October 2018 (See posts below). The distribution and backup seem to be complete and the markdown seems to be starting.
