UPDATE: Transaction Capital heading up to target 2 - R11.53

Transaction Capital has been the come back duck since October.

It's reached the first target of R6.88 in December. It then moved in a consolidation sideways pattern that formed a W Pattern.

Since it broke above the neckline, the momentum has been on fire.

This is just an update that the price is on its way to the next target at R11.53.

UPDATE:

Transaction Capital aims to generate between R900 million and R1.25 billion through the sale and issuance of shares in WeBuyCars.

Preceding the proposed separation and independent listing of the successful second-hand car dealership.

The strategy includes offering new shares to the asset manager Coronation, along with the issuance of additional shares for acquisition by new investors, which will result in a reduction of Transaction Capital's stake in WeBuyCars from 74.9% to a range of 57% to 67%.