Redefine Trade Update still on the way down to R3.20 BUT...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...
RDF
JSE:RDF Redefine Properties the Move is Now OnI have been waiting for this significant bar since March - see post below -. A significant bar with some increased volume yesterday could get things going to higher prices. It is pushing away from the yearly pivot point and we could see some momentum now.
JSE: Redefine Properties Markup?After following Redefine down since mid-2019 it is time to follow it up - see posts following it down below - it is now time to follow it up. A base was formed starting in March 2020 which has turned out to be an accumulation trading range. A last point of support (LPS) was formed making higher highs with signs of strength (SoS) with some volume behind the move. After reaching the top of the trading range we have seen a pause but the price has not been able to break back into the trading range and we are now watching for the markup to begin with a significant bar higher.
RDF - REDEFINE PROPERTIES LTDThis is my own view and should not be taken as Financial advice
This chart aged well, even though it has been the leader for volume on JSE the resistance has proven too thought to be flipped
Expecting this share to go below 200 very soon.
If the 197 support breaks we will see a new all time low.
plus side the Monthly and weekly RSI is oversold
I would wait to see if there's any bullish signs on the 4H and 1Day before diving into it.
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