Redefine Properties (RDF ZA)

Redefine Properties is a leading South African Real Estate Investment Trust (REIT). Their diversified portfolio includes directly held and managed retail, office, industrial and specialised real estate assets across South Africa, complemented by a strong presence in retail and logistics property assets in Poland.

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Technically, a price in a developing triangle pattern makes the share an interesting candidate for a long position (see the black converging trendlines on the main chart). This pattern often indicates a period of consolidation before a potential breakout. Investors can view the formation as a base for accumulation, with a breakout supporting the bullish stance.

The return of bullish swing momentum after a period of consolidation is also supportive (see the insert). This momentum, with a recent green bar, signals a renewed upswing in price traction following a sequence of alternating bullish and bearish swings.

Upside momentum, according to the Moving Average Convergence Divergence (MACD) histogram indicator, supports our bullish stance.

We suggest a medium capital at-risk allocation to this trade. Increase exposure for a break above R4.80.