Trading Ideas

Remgro definitely one to monitor

$JSEREM definitely one to monitor by SchalkLouw on

Remgro will be a share I’ll be monitoring closely over the next few weeks. Nice little recovery that started in October last year, bringing the price now very close to the Apex of the Symmetric Triangle pattern .

A break below the support (lower ascending trendline ), could see us test R193.60, with a break through those levels, most probably testing the R185.60 levels again.
A break above the resistance (upper descending trendline ), could formally break and keep us in the R200 levels, with R211.30 being my first target. A break through those levels, could possibly take us back to R218.30.
On 7 March 2019, $JSEREM formally had a Golden Cross, which makes a bullish case for the price movement.

According to Thomson Reuters consensus, analysts currently have a price target of R236.67 (19% upside) and a 1yr forward PE of 9.5 times.

Schalk Louw
As Portfolio Manager at PSG Wealth Old Oak and with over 20 years’ experience in the investment industry, Schalk has consistently delivered solid returns to his clients and has certainly become one of South Africa’s most well-known strategists. He started his career in 1994 at the stockbroking company, Huysamer Stals (later ABN Amro). He joined SMK Securities in 1997, (later became BoE Personal Stockbrokers) and was later appointed as director and branch manager. In 2001 he co-founded Contego Asset Management and managed the company as CEO up to March 2014, after which he joined PSG Wealth Old Oak. Schalk has also become a regular household name with investors, with his reports being published in many of the national press. He completed his MBA in 2008.

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