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Tactical Trading Levels: Remgro, RMI, PSG Group, Reinet Investments + Updates On Massmart and Redefine Properties – UnumCapital
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Tactical Trading Levels: Remgro, RMI, PSG Group, Reinet Investments + Updates On Massmart and Redefine Properties

Tactical Trading Levels: Remgro, RMI, PSG Group, Reinet Investments + Updates On Massmart and Redefine Properties

Remgro (RMI)

Short Term: bearish bias, with a range-trading opportunities. Look for support at the 12050-12218 range. Long Term: technical structure remains negative with the monthly RSI trending down.

https://www.tradingview.com/x/kCFsS7Xu/

Rand Merchant Investment Holdings (RMI)

A change in trend has taken place with the price breaking below the incline support as well as the 8/21-EMA. Short term, 2300c remains a key zone, of which a break below opens up 2150c and 2000c. Pair: IMP breaking out versus SSW | A bottom has developed since 24 April with the relative chart seeing the price also making higher lows (ascending triangle). The downward trend line has also been cleared with the 8-Day being regained. Remember, with breakouts we often see pullbacks so we may get another (better) opportunity to purchase.

https://www.tradingview.com/x/tyGwFajW/

PSG Group

Short term swing low and support of 13767 be should be monitored by traders as a ultra short term range. Share has shifted below 8/21-EMA which casts a negative bias. Resistance at 17191c.

https://www.tradingview.com/x/JROEszoX/

Reinet

Share is rolling over with a break of the incline support and loss of the 8/21-EMA while the price has respected 0.618 Fib zone. Short term traders, keep 27400c in mind as a level of interest – this was prior support as well as the 0.382 fibonaccci zone.

https://www.tradingview.com/x/hmqmRNiy/

Pair: IMP breaking out versus SSW

A bottom has developed since 24 April with the relative chart seeing the price also making higher lows (ascending triangle). The downward trend line has also been cleared with the 8-Day being regained. Remember, with breakouts we often see pullbacks so we may get another (better) opportunity to purchase.

https://www.tradingview.com/x/EKVvcEMF/

Massmart Holdings (MSM) – Update

Our MSM idea never triggered as a close above 2575c was required for a buy/long. I’ll keep monitoring the share for a another opportunity.

https://www.tradingview.com/x/ep8LtryZ/

Redefine Properties (RDF) – Update

RDF traded right into our accumulation zone before rallying by 12% on Friday.

https://www.tradingview.com/x/ZV4bmN8V/

Lester Davids

Trading Desk Analyst

Unum Capital (Pty) Ltd
An Authorised Financial Services Provider (FSP 564)


T: +27 (0)21 201 7270             W:  www.unum.co.za             E: lester@unum.co.za


Lester Davids

Lester joined Unum Capital in July 2016 and is a Trading Desk Analyst focusing on local (JSE) and global multi-asset class technical strategy and research which includes idea generation.

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