Trend: Short term sideways; medium term technically down. Long term up.
Strategy: Traders buy on a pullback. After getting close to line 1 support (of a broadening formation with line 2) Remgro has rallied from its 200-day moving average (which provides loose support). It’s now broken out above line 3 resistance. Any pullback towards line 1 will be a buying opportunity. The daily stochastic oscillator (on top) is moving up from its oversold region and has more upside to go before becoming overbought. Traders buy it ideally on a pullback to R107 or lower (the closer to R105 the better). Take trading profits in the R113 to R114 zone. It’s a “hold” for investors. Historically, Remgro has been a very defensive stock during large market corrections. The initial stop-loss for traders is a close below R104,50.