Redefine (RDF)

Redefine has been trading in a range of between R10.64 and R9.35 since Q3 2018. It briefly broke out of the range yesterday and reached an intra-day low of R9.25 which now could act as a short-term support level. The 50-day MA @ R9.96 will be a resistance level. The SARB repo rate announcement on Thursday afternoon + Moody’s credit rating decision Friday could lead to volatility.