Redefine Properties (RDF) - from my research note (Sunday 10 May 2020)
Previous Short, Now Potential Long Reversal Upon Trigger | RDF one of the recent short ideas, with the bear flag technical formation continuing to develop. The price is however nearing the recent lows, which may trigger interest and a potential breach of the bear channel. In addition, Friday’s increase in volume is also of interest. Provisionally, traders should monitor 178c – 168c as a potential accumulation zone. SL: 144. Target: Open.
Previous Short, Now Potential Long Reversal Upon Trigger | RDF one of the recent short ideas, with the bear flag technical formation continuing to develop. The price is however nearing the recent lows, which may trigger interest and a potential breach of the bear channel. In addition, Friday’s increase in volume is also of interest. Provisionally, traders should monitor 178c – 168c as a potential accumulation zone. SL: 144. Target: Open.
