Octodec ready for the next push up to R10.87 - NB Investment TipOctodec has had a challenging year with the price constantly on the downtrend.
That was until 27 June 2023... We can see a huge wick where there was most likely buying from Smart Money and financial institutions...
Since then the support has been tested numerous times and it's since then formed a W Formation (Double Bottom)...
We do need the price to break above the neckline for further upside but things are looking good.
IMPORTANT TRADING TIP AND MEDIUM TERM INVESTMENT TIP
Also, with lower liquid and high volatile stocks, I like to extend the stop loss quite broad. I normally move the stop loss BELOW the entire pattern to give room in case there are jumpy moves along the process to stop us out...
ALSO because there aren't CFDs or derivatives, these strategy works very well for medium term investments using technicals and fundamentals.
Other indicators state the following:
Price<200
RSI>50 - Bullish
Target R10.87
ABOUT THE COMPANY:
Octodec Investments Ltd is a real estate investment trust (REIT) operating primarily in South Africa.
It was established in 1959 and is listed on the Johannesburg Stock Exchange (JSE).
Octodec focuses on property investment and property management, primarily in the commercial and residential sectors.
Company Background:
Octodec Investments Ltd is a well-established and respected real estate investment company in South Africa.
Real Estate Focus:
Octodec primarily invests in and manages a diverse portfolio of properties, including retail, commercial, and residential real estate.
Geographic Focus:
Its property portfolio is mainly situated in key urban areas within South Africa, including Johannesburg, Pretoria, and other high-demand regions.
Property Portfolio:
The company owns, manages, and leases a range of properties, including office buildings, shopping centers, and residential complexes.
Income Generation:
Octodec earns income through rental collections from its property portfolio.
