RE7 trade ideas
REMGRO 1D - SHORT TERM NEGATIVITYSeems like I am a bull in a bear market today. Although there is a gap to fill to the upside, I feel the short term trend is still negative. Stochastic is overbought, and price is against a strong downward trend line. I will sell at 9297, with a short stop of 9705 and a small target of 8295.
three white soldiesrs on RemgroJSE:REM
WE have the three white soldies on Remgro. break above 9636c we could that gap fill
$JSEREM trading statement was release this morning.Remgro still has a good undervalued Portfolio, I will wait for the actual earnings to get some see-through on the NAV. If you believe SA can recover this is one to own.
REM - Possible long setupEntry - Break and close above 13097
Stop - 12265
1st Target - 13853
2nd Target - Around 14500 where the 50 Day moving average comes in.
Ohhh no...Remgro!I can’t say that this graph is making one feel warm and fuzzy, especially if you’re an investor. For a moment Remgro broke 3-year support line (bottom of the falling wedge), just to bounce back and close at the danger-zone. We can clearly see that the trend is still very much against the share price, with very negative momentum. We will further note that Remgro’s share price has been underperforming the FTSE/JSE All Share pretty much most of the time over this 3-year period.
Short-term traders that’s been long, should monitor the next few days closely as I’m sure that a few stop-losses might be triggered should we see further weakness.
I’m however going out on limp in saying that I think it might be good time to nibble. We recently covered the company via one of our reports and I must say that it’s getting really interesting on a valuation basis. It’s trading at one of its highest discount to intrinsic value, since 2011. Both the Forward PE (Source: Thomson Reuters) and Price/Books are at 5-year lows and the Dividend Yield at a 5-year high. You are more than welcome to download the full report for free here: oldoak.co.za
Should we see a recovery from current oversold levels (according to its 14-day RSI), levels to monitor would be firstly the 50-day Moving Average (R172.89) followed by the top of the falling wedge formation at R183. A break and close above these levels would be seen as (technically) very bullish and could then possibly only see resistance at the 200-day moving average (R188.58). My personal medium-term price target technically is R191 and longer-term R200. Note that the longer-term target corresponds with our Fundamental Price Target of R208, as mentioned in our report above.
$JSEREM DAILYThe Gap is providing SUPPORT at the moment for the REMGRO DAILY. 200 Day MA(Green line) is flattening out but still pointing down and the RSI has just come out of the OVERSOLD area. All GAPS must close, eventually
REM longREM H&S breakout and close above resistance now support level
has volumes to back it up
could have a sell off due to gap up new high
wait for confirmation or nibble some
RemgroStill watching. I saw quite a few notes on this one at the same time I was watching. managed to catch a small part of the up move today. I will be waiting for a breakout or a breakdown to re-enter. cc Lester Davids cc Shaun Murison
REMRemgro | The price has breached the year-to-date channel, testing 18200c in the last two sessions. A potential price action scenario I am considering is the price testing the 18550c swings high before retracing the top of the channel formation – a pullback level where traders could look to accumulate. This comes in at around 17570
$JSEREM WEEKLYRemgro WEEKLY is breaking its DOWN trend, after a test and failure last week can it hold and follow through? The RSI is pointing upwards which indicates momentum is to the upside
REM broken out of channelJSE:REM has been trading in a downward channel for quite some time and has just broken out of the channel in an upward direction. It has also broken through a fractal level and is looking good for a long position.
$JSEREM WEEKLYRemgro WEEKLY is pushing up against the DOWN trend RESISTANCE, will we have a break this week?
Remgro - Downward parallel channelJSE:REM has formed a definite downward parallel channel from as far back as 31 Jan 2019.
It has been bouncing off the top and bottom regularly since then.
Once again, it has recently bounced off the top of the channel and is looking good for a short as it heads for the bottom again.
$JSEREM DAILYCan REMGRO hold above the downtrend RESISTANCE today? After a break last month but then a move back into the down trend REMGRO broke through yesterday and closed above the down trend.
