Falling Flag formed on Redefine and the price is officially breaking up and out of the range.
This is bullish for the company as the JSE ALSI is also showing strong upside to come.
We also see the 7=21 and is about to cross.
Price>200 - Bullish
RSI>50
Target 4.39
ABOUT THE COMPANY
Redefine Properties Limited is a South African-based real estate investment...
JSE:RDF printed its last exciting high of R12.17 in April 2018. The stock has since been on an impulsive sell off that saw some buyers interested to correct the movement from R1.39 in March 2020. Price took another breather at R3.46 in April 2020 marking a level of interest.
Considering internal structure, price has been forming an upward slanted support since...
Redefine has been easy to probability predict in the last two years.
It's been on one strong trajectory down.
And after each crash, there is a relief rally to buy and profit from.
However, now we are in tricky territory.
There is a Broadening Triangle being formed which can break either way. That's the difficulty with Broadening patterns.
My bet is DOWN...
Redefine (RDF) is the second largest real estate investment trust in South Africa (after Growthpoint) with assets worth R72,9bn against a market capitalisation of R25,1bn. The company mainly holds industrial and office properties with investments in Poland, the UK and Australia. In our view, this is a massive REIT which has a large exposure to South African office...
Redefine (RDF) is the second largest real estate investment trust in South Africa (after Growthpoint) with assets worth R72,9bn against a market capitalisation of R25,1bn. The company mainly holds industrial and office properties with investments in Poland, the UK and Australia. In our view, this is a massive REIT which has a large exposure to South African office...
Symmetrical Triangle formed last year and the price broke below the apex.
It has been a very slow moving trade analysis, but that's what happens with blue chip companies.
The companies do what they can to fight for the price (and rightfully to do so).
21>7 >200 - Mixed
RSI <50 Bearish divergence
Target R3.20
ABOUT The company
Redefine Properties was founded...
We based the short trade off a Symmetrical Triangle.
The price broke below and then took quite a while, but eventually hit the target at R3.20.
Now there is a new Cup and handle formation in the process. The 7 has crossed above the 21MA and there is a higher low creating an uptrend.
We need the price to break before we can expect a relief rally to the 200MA...
A price action above 320 supports a bullish trend direction.
Further bullish confirmation for a break above 340.
The target price is set at 360.
The stop-loss is set at 320.
The start of upside momentum supports the bullish trend direction.
Seems like the price action is building a base.
A price action above 380 supports a bullish trend direction.
Further support is from the 200-day which might act as some support.
Increase exposure for a break above 400.
The target price is set at 410.
The stop-loss price is set at 370. Negate the idea for a break below this level.
Remains a risky trade.
Symmetrical Triangle formed on Redefine.
We saw the price breakout to the downside.
21>7 >200 MAs - Mixed
RSI <50 Bearish divergence
Target R3.20
ABOUT:
Redefine Properties Limited (Est. 1980s in JHB SA) is a leading South African real estate investment trust (REIT) and one of the largest property owners and managers in South Africa.
It has a diverse portfolio...
Redefine has been coming down since November 2021.
The channel was strong and continuous. That was until last year, where the price finally broke up and out of the channel.
This entered into a sideways consolidation range -hence creating a Symmetrical Triangle.
We are still in undecided mode and so we'll need to wait for a breakout before buying.
7 =21 -...
Inv Head and Shoulders formed on Redefine which we went long.
It's been a long hold, but it's because the market has been pricing in an Cup and Handle.
This means, we can expect even more upside to come.
Target R4.83 and possibly R5.20.
Bullish
Redefine has pulled back to support (around 388 - 390) after breaking its downtrend (yellow TL) and pushing to 440. This is probably a good area to build up a long position but keep enough dry powder for a further move lower at around 340 should this support not hold.
A price action above 400 supports a bullish trend direction.
Crossing below this level will negate the bullish stance.
Testing its 200-week simple moving average. Crossing above this level will classify the long-term trend as bullish.
Targetting 440 - which is the 50% Fibonacci retracement level.
A scenario of walking the Bollinger Bands might occur.
Highlighted as a buy/long on 4 occasions since May 2020 at 188c (all ideas attached as proof). Now 184% vs original level. Results out - market pleased.
Vertical lines on weekly chart reflects dates of comments.
- 11 May 2020
- 09 Nov 2020
- 26 May 2021
- 15 Sept 2021
Looks like it wants keep going...but of course if you've been long since last year then...
The narrow upward sloping range (inclining channel) remains of interest.
RSI leaves enough room for further upside price potential.
Remains above its 200-day simple moving average.
Above R4.30 supports a bullish trend direction.
Downside momentum is forming a trough - supporting a bullish trend direction.
