There GOES...REMGRO!Remgro remains one of my favourite “SA Inc” type of company by a country mile. Even after a 16% run over the past week, still leaves the company trading at a current discount to its intrinsic value of over 40% (compared to an average 10-year discount of 15.6%). We therefore firmly believe in the longer-term opportunity REM offers, even at current prices. Also, read our recent report on the company: oldoak.co.za
Technically, the resistance level of R96.50 which REM struggled to convincingly break, since July this year, has now been broken, with a run to its 200-day Moving Average (EMA) at R115.75, now becoming highly likely. REM’s 14-day RSI however is getting awfully close to EXTREME OVERBOUGHT levels, which might not make this a “straight line to glory” yet. We could therefore see some profit-taking soon, which could see me reload on some more.
