Growthpoint’s Golden Cross
Currently trading within a year-long base/consolidation range, Growthpoint Properties (GRT) has developed a golden cross technical signal whereby the 50-day Simple Moving Average (SMA) crosses above the 200-day Simple Moving Average (SMA). This suggests a potential change in trend and an acceleration on the short term time frame. BUY.
Current Price: 1411c
Entry (Range): 1400-1415c
Stop-loss: 1345c (-4.6%)
Targets: 1575-1620c (+11 to +14.6%)
Time Exit: (+-) 15 April 2021
This idea falls in line with our broader view on the SA Listed Property Index (J253) – published 08 February 2021.