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UPDATE Reinet Rounding Bottom with target on track to R460Reverse Cup and Handle formed broke out and went up. Now there is a Rounding Bottom (V shape) and the price is showing strong demand still. 7>21>200 RSI>50 Target 1 remains at R460.00 ABOUT THE COMPANY Reinet Investments S.C.A. is a Luxembourg-based investment vehicle founded in 2008. The company was created after a restructuring of the Swiss luxury goods company, Richemont. The purpose of Reinet is to allow investors to directly participate in a diversified portfolio of high-quality assets. Reinet is listed on the Luxembourg Stock Exchange and its depositary receipts are listed and traded on the Johannesburg Stock Exchange (JSE). The company's investment strategy is largely focused on long-term capital growth. Reinet's portfolio spans multiple asset classes and sectors including private equity, listed securities, real estate, and more. HOW IT GOT ITS NAME Reinet Investments S.C.A. is named after Reinet, one of the three daughters of Johann Rupert, the company's chairman and a prominent South African entrepreneur. The Rupert family has had a significant influence in the South African business landscape, with stakes in luxury goods, wine and spirits, and other industries. Naming the company "Reinet" serves as a tribute to the Rupert family.
JSE:RNILong
by Timonrosso
Reinet setting itself for great upside to R460Reverse Cup and Handle has formed on the daily chart. The price broke above the brim level, and since then has made higher lows. There are other indicators showing upside to come including. 7>21>200 RSI>50 Target 1 = R460.00 CONCERNS: The price action is very volatile and jumpy. This is not conducive for trending and breakout trading systems as there can be shakeouts and fakeouts. Albeit it being bullish, the risk should remain small 0.5% to 1% for this kind of trade in my books. ABOUT THE COMPANY Reinet is primarily an investment holding company that invests in a diversified portfolio of assets, including listed and unlisted companies, private equity, and real estate. The company's investment strategy is focused on creating long-term value through active management and engagement with portfolio companies. Reinet Investments SE is a Luxembourg-based investment holding company. It was founded in 2008 as a spin-off from the South African tobacco company, Richemont. Reinet is a long-term investor in a diversified portfolio of assets, including listed and unlisted companies, private equity, and real estate. The company has a market capitalization of over R130 billion (as of April 2023). Johann Rupert, the founder of Richemont, is the Chairman of Reinet Investments. The company's portfolio includes significant investments in British American Tobacco (BAT), Pension Corporation, and Miura Holdings. Reinet Investments owns a 2.4% stake in BAT, making it one of the largest shareholders in the tobacco giant. Reinet also owns a significant stake in the South African telecommunications company, MTN Group.
JSE:RNILong
by Timonrosso
JSE:RNI Reinet Accumulation?Reinet has been under pressure but the latest range shows signs of accumulation. Price has potentially formed a Phase C spring and the spring has been tested. Divergence with the volume RSI indicates upward volume pressure. Volume has been declining during the current trading range possibly indicating that the supply has been absorbed. Price is now testing the top of the trading range and now we need to see if it can break out and successfully retest the trading range.
JSE:RNILong
by SteynTrade