Growthpoint Properties: Target Exceeded + New Highs + New Price Action Model Reading

Research Notes 18 - 22 August > https://www.unum.capital/post/r1822august

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Update: Over a period of 16 months, the share rallied from below 1040c to a high of 1487c, with strong upside follow-through from both the manual and automated triggers. At current levels, this is what the price action model reflects:

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• 15 August 2024: SHORT TERM TRADERS CAN BANK / TAKE PROFIT ON THIS IDEA

• Notes on Slide

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Previous Post (Friday 12 July)

Scanning for opportunities in the U.S last night, the real estate sector stood out as a theme, with several ETFs being reflected on my screeners.

Screener as of 21h30, Thursday 11 July

Considering local opportunities, GRT is a setting up as a potential continuation trade. The share is developing pennant formation which is triggered above 1247c, with a target of 1302c. The setup is temporarily invalidated on a daily close below 1216c.

GRT chart after Thursday's close.

Lester Davids

Senior Investment Analyst: Unum Capital