Is it time to short NRPSlow stochastic has crossed to the downside, MACD is about to also cross over to bearish.
NRP trade ideas
Nepi Rockcastle:Equities | Nepi Rockcastle: The share has been consolidating for the past 3 1/2 months in the form of a falling channel. This forms part of a larger base that has been in palce for 22 months of which an upside range break could see the share gain upward momentum.
Top5 oversold/overbought according to RSI & NEPI RockcastleWelcome back MediClinic! After some pressure years, you’re back into “overbought” after a solid trading update this week.
Top 5 Oversold & Overbought currently according to their 14-day RSI’s:
Oversold:
Hospitality Property B 27
Fortress REIT B 30
Cashbuild 31
Libstar Hlds 34
NEPI Rockcastle 35
Overbought:
Northam Platinum 83
MediClinic Intl 74
Capital & Counties Properties 73
Hammerson 73
Stor-Age Property REIT
This week I want to spend some time on NEPI Rockcastle. After a strong start of the first 9 months of 2019, NEPI took a bit of a breather in October. Note that NEPI has gone ex-dividend (R4.82) on the 9th of October, so some of the price movement was dividend related. Speaking of which - at a historic dividend yield of 7.2%, it's definitely looking attractive from a passively paying income investment.
Technically, NEPI is looking attractive. The share price is still trading above both an up-trending 200-day Moving Average and its longer-term diagonal support line. The RSI (currently 34.91) is not trading at EXTREME oversold levels yet and for those prepared to take the chance, could maybe wait for R126.50 (bottom of diagonal support). A break below this level could see support at the 200-day Moving Average at R125.42. If I was a short-term trader, this will be my stop loss as next support then only arrive at R116.
Should we see a recovery from current levels, could see the 50-day Moving Average at R132 as next resistance level with a break and close above those levels, only looking for next resistance at R138 (top diagonal resistance line). A break and close above this level will be very bullish and bring into play the current Thomson Reuters consensus target price of R141.26.
NRP: look at that bullish MACD crossover!Upward price momentum is starting to support the trend direction.
200-day simple moving average acted as major support.
Kijun rejectionPrice tried twice on the daily to break through the Kijun and failed. Yesterday closing just below Kijun raising alerts then today the gap down confirmation of bears control. My two levels of significance being 13257 and 12748. The former should have been the entry level but the gap down threw us off there,regardless short on close of trading in Joburg with 1st target being 12748 and we appraise price action thereafter.
Entry: 13149/13150 (depending on where it closes but +/- 20 from this price)
SL: 13571 ( 1 ATR from the 1st significant level 13257...which is also a comfortable position above Kijun)
1st TP: 12748 ( Weekly Kijun level)
Never forget that risk management...always half of what you think you are comfortable with. So if you think 1% is you parameter then put just 0.5%:)
Long NRPAfter a lengthy basing out Nepi seems like its ready to go...can wait for a pullback before going long in anticipation of another leg up.
NRP -Nepi Rockcastle Breaking out of a 4 month consolidation.NRP breaking out of a 4 month consolidation.
RR : 1.85
$JSENRP Nepi rockcastle. Bull flag in progress.A break of 13360 could open 14370 target. Wait for the break
JSE:NRP NEPI Taking the Next Step HighterIn a week market, NEPI has been holding up and trading in a narrow range near the top of the TR. With a rally in the market, NRP now looks like taking the next step higher to the yearly pivot point and to of the upthrusts (UT) during the TR. Looking for a break of this for a nice upside move.
Nepi Rockcastle Since June, the share price of Nepi Rockcastle has faced resistance around the R134 level, with each test being met with sellers stepping up. This consolidation has also seen the price develop an ascending triangle formation suggesting that buyers remain interested in accumulating the share. Today, we are seeing the price attempting to break above the overhead resistance, with the price testing a 10-month high of R134.74. Should we see a pullback to below 13300c, this may offer traders an opportunity to take a buy/long position in anticipation of a short term upward trend being developed.
Trade Plan for NRP:
- Buy on a pullback to below 13330c
- Should the price make a sharp pullback, use a stop-loss of 12900c to protec capital
- Take profit at 13950c and 14200c
JSE:NRP Nepi Rockcastle The Next Move HigherI have been following the accumulation range (see link) since a spring in November 2018. Price has now moved to the top of the TR and it looks good for a breakout of the TR to the yearly Pivot Point. Some volume and signs of strength are seen.
NEPI ROCKCASTLE TRADING SCANDAL HURT, WILL IT RECOVER?NEPI Rockcastle owns and manages a portfolio of dominant retail properties in the following high-growth CEE countries: Romania, Poland, Bulgaria, Slovakia, Hungary, Croatia, Czech Republic and Serbia. The Group benefits from a highly-skilled internal management team which combines asset management, development, investment, leasing and financial expertise. Geographically diverse management skills allow NEPI Rockcastle to pursue Central and Eastern European (CEE) property opportunities more efficiently, benefiting from a strategic advantage in the acquisition, development and management of properties. The Group is well positioned for growth, driven by its best-in-class operating platform, as well as its historically proven capacity to deploy existing capital resources into attractive direct property investments. NEPI Rockcastle continues the active investment policy that supported the growth of NEPI and Rockcastle respectively over recent periods, with a strong pipeline of acquisitions and developments currently being pursued in its targeted region.
NRP is however part of a large trading scandal where they were accused of overstating profits and have taken big hits in terms of share price.
Technicals
There are two options here but both setups indicate that there should be further downside.
Option 1
Here we can see the initial impulse move to the downside on the left and I expect the second impulse to complete to the downside at a target price of around 3000. The corrective structure completed 4 waves and broke to the downside and is now on the retest level which means that the second impulse could begin shortly.
Option 2
The same initial impulse move applies but we could see the formation of a larger correction as indicated above. The break to the downside for impulse two will have the same target as option 1 and could occur on wave 4 or alternatively after the completion of wave 5 to the top first.
JSE:NRP NEPI Rockcastle Potential Spring and TestNEPI has been range bound since February. At the end of November we have seen a spring on high volume. There has been a lower volume test and I am waiting for a good bullish bar to start building a position and a jump across the 200Day SMA. However, some caution is still needed as the 200Day SMA seems to be holding. There is divergence on the Volume RSI confirming buyers in the market.
