Redefine Trade Update still on the way down to R3.20 BUT...
Updated
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 in 1999 and is headquartered in Sandton, South Africa.
It is also listed on the London Stock Exchange (LSE) as a secondary listing.
Redefine Properties owns and manages a portfolio of over 500 properties valued at more than ZAR 70 billion as of March 2023. The portfolio includes office buildings, shopping centers, industrial properties, and hotels.
The company has a well-diversified customer base, including multinational corporations, small and medium-sized enterprises, and government entities.
They own many famous buildings like
Alice Lane towers (Sandton)
Centurion Mall (Pretoria)
Kyalami Corner
East Rand Mall, Boksburg,
Rose Bank Mall
Benmore Gardens etc...
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 in 1999 and is headquartered in Sandton, South Africa.
It is also listed on the London Stock Exchange (LSE) as a secondary listing.
Redefine Properties owns and manages a portfolio of over 500 properties valued at more than ZAR 70 billion as of March 2023. The portfolio includes office buildings, shopping centers, industrial properties, and hotels.
The company has a well-diversified customer base, including multinational corporations, small and medium-sized enterprises, and government entities.
They own many famous buildings like
Alice Lane towers (Sandton)
Centurion Mall (Pretoria)
Kyalami Corner
East Rand Mall, Boksburg,
Rose Bank Mall
Benmore Gardens etc...
Trade closed: target reached
UPDATE Redefine hit R3.20 Target and could turn up from hereWe 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 to R3.90. I've posted the new analysis today.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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