Remgro - trading into a support zone, with a positive divergence as per the 7-day RSI.
Fundamentally, a 48% discount to NAV.
Also, a slight improvement in candle structure.
The share has started to find support off the provisional buy range.
My comment last week 02 April 2024 was as follows:
REM REMGRO - (1) Aggressive selling pressure but attempting to settle around multi-year support (it can fluctuate around this level) - down from 16300c at the beginning of the year (2) 48% Discount To Net Asset Value (NAV 23695c vs Last Close...
Johann Rupert's Remgro (REM) operates as an investment holding company, boasting a diverse portfolio of investments. Notably, it holds a 28.2% stake in Rand Merchant Bank Holdings (RMH) and a 3.9% interest in FirstRand. Additionally, Remgro owns Mediclinic, an international healthcare company with divisions in Switzerland, Southern Africa, and the United Arab...
Remgro, led by Johann Rupert, operates as an influential investment holding company with a diverse portfolio spanning various sectors. It holds a significant 28.2% stake in Rand Merchant Bank Holdings (RMH) and a 3.9% stake in Firstrand. Beyond its financial sector investments, Remgro's interests extend to healthcare through Mediclinic, now delisted from the JSE,...
The stock has pulled back to an area of interest after reaching a swing high of R164. (200ema)
The R151 - R147.50 is also the fib retrace zone for the last major leg up. I will be watching for a confirmation to go long here.
Note: Earnings coming up in March
Remgro Ltd
Sideways to Bearish: Remgro's Price Action Anticipates a Dip
The price has demonstrated a sideways trend since 2021; however, given the current price action, it may potentially decline to the R120 region.
1.Price Formation: The price has broken out from an inverted cup&Handle (M formation) price formation on a daily chart.
2.Moving Averages: The 7-day...
Remgro is trading in the apex of its falling wedge pattern that has brought prices back to value into the support level of R138, longs are favoured with a 2:1 reward to risk ratio
The stock has broken out of a down sloping wedge pattern and is likely to get support in the current buoyant market.
MACD crossover with a diverging RSI.
First hurdle to overcome with be the 200dma .
Stoploss below R141
Remgro is consolidating in the form of a bullish flag. I would look to buy off the bottom of this flag where the anchored vwap from May 23 lows come in at around R150 - short term target R171.50 if and when break above R160.00 occurs. Use stop loss at R146
Johann Rupert's Remgro (REM) is an investment holding company which owns 28,2% of Rand Merchant Bank Holdings (RMH) and 3,9% of Firstrand. But that is not Remgro's only investment. It also owns Mediclinic, an international healthcare company with divisions in Switzerland, Southern Africa and United Arab Emirates which has now been delisted from the JSE. Remgro...
Box formation formed after a couple of months and the price broke above the resistance.
Since then it's been on a solid uptrend with a good inclination.
The price has also broken above the Falling Pennant which is confirming the buyers are driving the price.
We have additional indicators showing upside.
MAs - 7>21>200
RSI>50
Target R191.31
Bullish
Box formation formed on Remgro.
Now this is an update to show the upside that's on the way, and what is to come.
As a short term trader one can set the target at R169.00.
As a medium term trader one can set the target to R191.00.
All depends on the R:R placement method and term to hold.
Either way, this thing is heading up.
MAs - 7>21>200
RSI>50
Target...
The last coverage of Remgro was on 24.03.2023, link below.
The support level has held and the technical pattern no longer fits that of a head & shoulders.
I do not have an investment thesis on Remgro and it is a very slow mover but price looks bullish at this point.
For long-term holders, buys can be initiated with a stoploss below the support level.
Box formation has been in the process in the last few months...
In this case, it looks like it'll be a continuation pattern. The prior trend was up, we have a consolidation process now and soon we should get a breakout.
I'm guessing up.
MAs - 7>21>200
RSI>50
Target R191.31
ABOUT THE COMPANY
Remgro Limited is an investment holding company based in South...
Box formation has clearly formed on Remgro.
It started last year this time, and the price has been jumping between the high and low range.
But now the price has broken up and out of it. This could be the boost it needs to rocket up to the next target.
MAs - 7>21>200
RSI>50
Target 1 is set to R170.00. But there is a caveat.
Bullish
CAVEAT
The JSE ALSI 40 is...
Remgro is forming a IHS pattern with the right shoulder currently being formed off the R132.00 level which if we start to move higher from here will complete the pattern once prices reaches its neckline at R144.50.
A brief update on the original analysis shared on the 27th of October 2022, link below.
The head and shoulders outlook is still intact.
After making a new high on the right shoulder, price has fallen and is now testing the support neckline.
The share is still trading generally sideways so I will continue to sit on my hands on this one.
Ascending Triangle is forming nicely on Remgro.
We see the 7 and 21 MA above 200.
But more importantly, Price >200 - Bullish
RSI>50 - Bullish
Target R165.55
ABOUT THE COMPANY
Remgro was founded in 1990 (Stellenbosch, South Africa) by Johann Rupert, a South African entrepreneur and businessman.
The company was established as an investment holding company...
