Interim results for the six months ending 31 December 2013 expected on the 18th of March 2014
Remgro Ltd. is an investment holding company whose interests consist of investments in banking and financial services, glass products, medical services, mining, petroleum products, food, wine and spirits, media, technology and various other trade mark products.
Remgro Ltd has guided that it expects Headline Earnings Per Share (HEPS) for the period to be 125% to 129% higher than that of the 2012 first half comparative.
The 2012 comparative was however impacted by once off charges relating to Mediclinic refinancing. Should these charges be excluded, the HEPS growth for the current interim period is expected to be between 18% and 22% higher.
The price of Remgro has broken up out of the sideways consolidation marked with the red dotted lines.
The price has also recently crossed above the 200 day simple moving average (200MA) suggesting that the long-term trend bias is no longer down, but rather up or sideways. The recent strength witnesses Remgro outperforming the general market.
The indicator suggests this on our chart, as the Relative Strength Comparison compares the price performance of Remgro to that of the SA40 index. With these bullish considerations in mind, further upside is favoured with resistance at 20350 considered.
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