Reinet Investments: R550 Target Exceeded; Corporate Action Sees Share Reach All-Time High

Research Notes For 30 June to 04 July > https://www.unum.capital/post/r3004july

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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.

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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