Any ideas why GRT taking such a big knock. They successfully raised monies through issuing unit at R28.00 & have withdrawn their offer for Fountainhead. On high div yield (5%+) and recent OST Tech report indicates it's MEGA oversold (RSI) but could go further down to R25.85. Should one look at going long now?
Mmm, Surfer - Looks like your point is true. Foreigners had increased their holdings from 3% to 18% in GRT and now they could be bailing out. Did not think about rand and foreigners effect on GRT. Anyone care to predict when GRT will bottom now that its fallen below R25.80
Anything related to increased interest rates are getting a cold shoulder - look at retail shares. They are all getting nailed. Exporters (precious metals) and rand hedge shares are the place to be right now.
Hi. Looks like there's support at around R23.50-R24.00. Any chance that forumite 'Sponono' can assist with a Tinypic url to see where GRT is headed next? Based on urls for WHL and DSY I'm going to hold them so it would be good to see GRT (and if possible NEDBANK)- this for cfd's 4 to 6 week views.
Once again if you join the lows of March 2009 and September to November 2011 you will see the stock is trading at support; the sell divergence on the weekly RSI is obvious: the stock had better not fall below R170 otherwise you are looking at a fall to about R130 (23%)