RDF trade ideas
Breakout soon? Redefine is currently in a falling wedge and shows signs of breaking out. It has been bouncing of support since march.
Very dangerous Support level for RedefineWould not be buying Redefine yet as it is currently trading at an especially important support line. We can see a clear Bearish Flag pattern. According to DailyFX.com a Bearish Flag is:
Identifying a bear flag can be easy once traders understand the components, and this is applicable to all financial markets. The pattern itself is divided into:
1. Traders will need to find the flagpole which will be identified as an initial decline. This decline can be steep or slowly sloping and will establish the basis for the trend.
2. The bear flag is identified as a period of consolidation after the completion of prices initial decline. During this period, prices may slowly channel upward and retrace a portion of the initial move. At this point traders will wait for price to break to lower lows in the direction of the trend.
We are awfully close to a bottom breakout, which in technical terms will be unbelievably bad for Redefine. I would recommend that traders wait for either a break below the support line (which will be confirmation not to go long for now) or a break above the 8-day Exponential Moving Average (EMA) at 277cps before consider taking a long position. Personally, I would wait for a break and close above the 21-day EMA (300cps) before going long.
Short term and long term outlook on Redefine PropertiesPure Supply and demand based technical analysis.
Looking to seeing the pair between R5.00 & R6.00 prior to finding more Demand
#Redefine Properties $JSEMy view is still bullish here and the target area is 409. Market is currently at a resistance zone and may drop to retest support at 285 for an opportunity to buy, then advance to the upside to target profit taking price.
$JSERDF looking betterWith the company working hard to sort out its balance sheet with 2 disposals in recent days, the market might be feeling a little more comfortable regarding their ability to sort out their debt and reduce the loan-to-value ratio. Technically the chart looks good putting in higher lows since bottoming out and the break of the recent horizontal trading channel between R2.65 to R3.10 could see it move to targets of R3.50 and R4.00.
Redefine Properties Elloit WaveVery similar chart as SOL before the breakout. Expect it to go down to R2.50 level before going up again to R4 levels
#JSERDF LongUptrend continuation from Redefine. I have strong feeling we'll see this stock at above R5
Redefine midday Analysis I’m a bit more optimistic about Redefine, multiple supports and resistance being created. At worst I’m expecting the share price to hover around 340 - 347 and at best(optimistically) aiming for 390, but I’ll accept 360. I’m very optimistic about Redefine and I’m holding on to these until we possibly hit 600 hopefully by August or September.
RDF - REDEFINE PROPERTIES LTDThis is my own view and should not be taken as Financial advice
This chart aged well, even though it has been the leader for volume on JSE the resistance has proven too thought to be flipped
Expecting this share to go below 200 very soon.
If the 197 support breaks we will see a new all time low.
plus side the Monthly and weekly RSI is oversold
I would wait to see if there's any bullish signs on the 4H and 1Day before diving into it.
Follow me on Twitter
@Muazcoin
RDFRedefine Properties (RDF) - from my research note (Sunday 10 May 2020)
Previous Short, Now Potential Long Reversal Upon Trigger | RDF one of the recent short ideas, with the bear flag technical formation continuing to develop. The price is however nearing the recent lows, which may trigger interest and a potential breach of the bear channel. In addition, Friday’s increase in volume is also of interest. Provisionally, traders should monitor 178c – 168c as a potential accumulation zone. SL: 144. Target: Open.
REDEFINE - 2003 Levels!- Monthly chart shows Redefine at levels last seen 17 years ago
- I will be keeping on the watchlist and targeting any sort of bottom in the future weeks to come...
JSE:RDF Redefine Prop Markdown ContinuesThe re-distribution of Redefine has completed and price is breaking lower. The markdown is gaining speed. See posts below following distribution.
JSE:RDF Redefine Markdown Continuing Following the markdown of Redefine Properties (See posts below), we have seen a smaller redistribution trading range (TR). There have been signs of weakness (SOW) with volume increasing on the highs pushing price lower. After an upthrust (UT) and Test, we are seeing price being marked down. This could just be the start of the further markdown.
REDEFINE - #JSERDF Long Idea - Price looks to have found a bottom
- Double bottom + cup/handle pattern
- Volume shows steady accumulation
- TP & SL on chart
- MANAGE YOUR RISK -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
$JSERDF - Shallow rounded bottom still in play? (4hr)Price action broke above both the NL & 14hr MA (788/9)
If the setup plays out, TP 822
Caution: indicators are showing signs of fatigue
Double BottomJSE:RDF has formed a double bottom support level and it could mean a slight move upwards.
RDF Massive Engulfing CandleJSE:RDF formed a massive bearish engulfing candle yesterday which is a top reversal signal. It is not technically at a "top", but it is possibly signalling the end of the retracement. I will consider a short if it confirms lower.
