Remgro Double Top Target
Remgro Ltd. is an investment holding company established with effect from 1 April 2000, after the restructuring of the former Rembrandt Group Ltd. The Group's interests consist mainly of investments in consumer products; banking; healthcare; insurance; industrial; infrastructure as well as media and sport. The company's activities are concentrated mainly on the management of investments and the provision of support rather than on being involved in the day-to-day management of business units of investees. Subsidiaries not wholly owned include listed companies with independent boards of directors on which this company has non-executive representation. Non-subsidiary investments comprise both listed and unlisted companies not controlled by this company and which are mostly associated companies due to significant influence and board representation.
Technicals
This bullish correction has completed 5 waves which usually means there will be a break to the upside now. It's unusual but sometimes corrective structures form a 6th wave as well so I will still be careful of a reversal when price reaches the top of the structure. A break of the structure currently has a target exactly at the previous high. Smaller time frames will give an entry for the long.
Happy trading!
Linton
Technicals
This bullish correction has completed 5 waves which usually means there will be a break to the upside now. It's unusual but sometimes corrective structures form a 6th wave as well so I will still be careful of a reversal when price reaches the top of the structure. A break of the structure currently has a target exactly at the previous high. Smaller time frames will give an entry for the long.
Happy trading!
Linton
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