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Afrimat

UPDATE: Afrimat on target to R66.75 and a new pattern arisesCup and Handle was the last pattern we used to make this prob prediction. Lately, we have had the price fall into a Falling Flag consolidation formation. And the price has already broken up and out of it. This means, we can expect upside to continue and head to our first target of R66.75. 7>21>200 RSI>50 Target R66.75 ABOUT THE COMPANY Afrimat Limited is a leading black empowered open pit mining company in South Africa. Name: Afrimat's name appears to be a combination of "Africa", reflecting its roots and primary operational region, and "mat", which could potentially be derived from "materials", representing the company's core business in supplying construction and industrial materials. Founding: Afrimat was founded in the early 1960s as the Lancaster Group, and was rebranded as Afrimat Limited in 2006. Listing: The company is listed on the Johannesburg Stock Exchange (JSE), and its listing took place in 2006. Headquarters: Afrimat's headquarters are situated in Durbanville, Cape Town, South Africa. Operations: Afrimat operates nationally in South Africa, and internationally in Namibia. It provides a range of materials, including aggregates, industrial minerals, and commodities. Aggregates: The company started as a producer of building aggregates, but it has since diversified into a wide range of mining and related sectors. Industrial Minerals: Afrimat expanded into industrial minerals and now produces dolomite, limestone, silica, and others. Leadership: Andries van Heerden is the Chief Executive Officer (CEO) of Afrimat.
JSE:AFTLong
by Timonrosso
Afrimat showing strong upside after C&H break up to R65.43Afrimat after a volatile period of ups and downs, seems to have chosen a direction. It's been making higher lows, which has solidified the Cup and Handle formation. We see indicators pointing up including: 7>21>200 RSI>50 My first target is to R65.43. This will give it enough room for upside and will give room in case the market jumps back down. SMART MONEY CONCEPTS Below the Handle and the Cup is clearly a Sell Side Liquidity Order Block. With the wicks coming down and for the bodies closing near the highs, states that buying is stronger. And so with SSL Smart Money buys into positions (and sweeps liquidity) from traders who are long (get stopped) and for short traders who enter into their trades. ABOUT THE COMPANY Afrimat Limited is a leading black empowered open pit mining company providing industrial minerals and construction materials in South Africa. Founding: Afrimat was founded in 1965 as Prima Klipbrekers, primarily a mobile crushing company. Name Origin: The name Afrimat is a combination of "Africa" and "Materials," indicating the company's African identity and its focus on materials. Public Listing: Afrimat was listed on the Johannesburg Stock Exchange (JSE) in 2006. Diversified Portfolio: Afrimat's portfolio of products includes crushed aggregates, limestone, silica, and other industrial minerals. Geographic Reach: The company has operations across South Africa, has expanded into other African countries. Acquisitions: Afrimat has grown through a series of strategic acquisitions, including Lancaster Quarries and the Glen Douglas dolomite mine. Construction Materials: The company supplies construction materials, primarily concrete-based products, to the construction industry. Industrial Minerals: Afrimat also has a strong presence in the industrial minerals sector, supplying materials for various industrial applications.
JSE:AFTLong
by Timonrosso
Afrimat showing a strong bounce up to R60.00Cup and Handle formed on Afrimat following the downtrend that's been extended since 2022. We then had a break above the Brim Level showing demand and buying was in play. MAs -Mixed RSI>50 But there are higher lows. Target R60.00 SMC: SSL - Order Block This Sell Side Liquidity order Block is most apparent BELOW the entire formation. We can see sweeping of sells over the last month, and the buying into it has cause the price to rocket. Afrimat is looking strong for upside.
JSE:AFTLong
by Timonrosso
Afrimat retesting Cup and Handle - Target R68.55 7>21 SMA - Bullish Price >200SMA - Bullish - Green background Cup and Handle has formed and the price has recently retested the Brim Level. RSI >50 (Green background) - and is showing higher lows - Bullish First target is R68.55 This also is showing upside as the local resource market continues to move up in 2023. General Info Afrimat is an acronym for "African Material Supplies", which is where the company got its name from. The name is reflective of the company's focus on providing industrial minerals and construction materials to customers throughout Africa. It specialises in mining and supply of industrial minerals, including construction materials such as aggregate, sand, and granite. It operates in certain places in South Africa like Western and Eastern Cape, KwaZulu-Natal, and the Free State.
JSE:AFTLong
by Timonrosso
Our Club PortfolioLast year, on the 14th December 2020 we wrote an article about our Investment Club software and our in-house company portfolio which we run on that software. As we said in that article, running this portfolio has proved to be a highly motivating exercise for our staff. Since 14 December last year, there has been just one change to the portfolio, when the Clicks share price fell at the beginning of 2021, we decided to take advantage of the situation and bought additional shares – which brought our average cost for Clicks down. Aside from this one change, the portfolio has remained the same. Capitec has appreciated sharply as that company increased its market share and continued to grow rapidly. Our investment has grown by 31% since December last year and is now up over 100% since we first acquired the shares. Capitec has been a been a remarkable investment since it was listed in 2002 growing a hundred-fold from 180c to R1800 per share. Consider it's chart. Transaction Capital is up almost 60% over the 10 months since December 2020 and we believe it will continue to grow. Its two primary businesses - mini-bus taxis and buying up debtors’ books - are both likely to continue benefiting from the conditions that prevail in South Africa. The company is very well run and conservatively managed. Prosus has fallen out of favour with institutional investors since we bought our shares mainly because of the clamp-down by Chinese authorities on the business of Tencent and also because of the recent highly complex transaction that Prosus executed with its parent company Naspers. We think that both of these negatives will cease to impact the share price in time and that Prosus will continue to release shareholder value and benefits from its acquisitions (like the recent acquisition of BillDesk in India). It is our intention to buy more Prosus shares when we have sufficient funds so as to bring our average cost down. We regard Clicks as an iconic share which should be accumulated on any weakness and should be a part of any portfolio. The company has proved that it is almost immune to national calamities like the pandemic and the civil unrest of July. We were happy to buy more of these shares at the lower prices which prevailed in March this year. We regard it as a highly defensive and conservatively managed growth share that will continue to expand its store base and grow steadily. Afrimat is somewhat risky because it is exposed to commodity prices, but the company has executed an amazing transition from being a construction company to being a producer of base metals and minerals. Other construction companies, like Aveng and Murray & Roberts, were gutted by the destruction of the construction industry following the 2010 World Cup. Afrimat has managed to completely re-invent itself showing remarkable perspicacity and management acumen. You can see that our approach is typical Warren Buffett. We try to find high-quality blue-chip shares and buy them when they are out of favour with the big institutions. We are not in any sense traders, we are investors. Like Buffett, when one of our shares falls, we celebrate because that enables us to buy more at lower prices and bring our average cost down. We did that with Clicks, and we are about to do it with Prosus. Overall, the portfolio is up just over 40% since its inception and the whole process of running an investment club has become highly motivating for our staff. DISCLAIMER All information and data contained within the PDSnet Articles is for informational purposes only. PDSnet makes no representations as to the accuracy, completeness, suitability, or validity, of any information, and shall not be liable for any errors, omissions, or any losses, injuries, or damages arising from its display or use. Information in the PDSnet Articles are based on the author’s opinion and experience and should not be considered professional financial investment advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Thoughts and opinions will also change from time to time as more information is accumulated. PDSnet reserves the right to delete any comment or opinion for any reason.
JSE:CPI
by PDSnet