Growthpoint looking to point up after W breakout

2023年8月1日

W Formation has formed on the property company over the last 3 months.
Today we are seeing a strong breakout to the upside.
Also, the downtrend has broken and the price has moved into a bull market showing strong momentym up.
Other indicators show upside to come:
7>21 Bullish
Price<200 - Bearish but, price action is showing upside to come.
RSI>50
Target R14.44

ABOUT THE COMPANY

Growthpoint Properties Limited is a South African-based real estate investment trust (REIT) and one of the largest property investment companies in the country.

Name:
Growthpoint Properties Limited is commonly known as Growthpoint.

Establishment:
Growthpoint was founded in 1987 and has grown to become a prominent player in the South African property market.

REIT Status:
Growthpoint is classified as a real estate investment trust (REIT), which means it enjoys certain tax advantages and must distribute a significant portion of its earnings as dividends to shareholders.

International Presence:
While primarily focused on the South African property market, Growthpoint has expanded its footprint internationally, with investments in several countries.

Diverse Portfolio:
Growthpoint's property portfolio is diverse and includes office buildings, industrial properties, shopping centers, and retail properties.

Property Assets:
The company owns and manages numerous properties, including landmark buildings and shopping malls across South Africa and abroad.

SOME OFFICES AND SHOPPING CENTRES INCLUDE:

OFFICES:

• Sandton City Office Tower
  
• The Place
  
• 85 Grayston Drive
  
• Growthpoint Kings Park
  
• The Estuaries
  

SHOPPING CENTRES:

• Canal Walk Shopping Centre
  
• East Rand Mall
  
• The Atrium on 5th
  
• Northgate Shopping Centre
  
• The Constantia Village