Reinet Investments: Approaching Target at R550 / Current Higher By 10% Thus Far Today
- Lester Davids
- 6 days ago
- 1 min read
Research Notes For 09 to 13 June > https://www.unum.capital/post/r0913june
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Previous Post (10 June): Trading Reinet Investments: A Familiar Consolidation
In February at R474, we discussed RNI, highlighting a massive base while also stating that the share has room to run. The share recently crossed above R500 and has developed a consolidation below the highs which appears similar to the one seen in 2023 (see yellow circled area). A break above resistance opens the upper boundary of the channel (~R550) as a target.
Amidst today's red, RNI, with it's relative strength caught my attention:
Massive multi-month base, with a short term bull flag.
Not extended, room to run.
Lester Davids
Senior Investment Analyst: Unum Capital
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