South African stock alert


Afternoon Alert: Grindrod Preferrence hits 52-week low second time in six months 16 January 2018 12:50 SAST


Grindrod Ltd. Pfd. (J:GNDP) hit a 52-week low of ZAR70.0 earlier today for the second time in the past six months, but later rebounded higher to ZAR71.45. Trading volume was 2.1 times average so far today.

Current indications of bearish signals that support the trend in the unusual trading:

+ The negative 0.24 MACD (Moving Average Convergence Divergence) indicator suggests a bearish signal.

+ In the last three months the preference stock has hit a new 52-week low once.

+ The price dropped 3.4% in the last week and 2.7% in the last month.

Other Bearish Signals include:

+ EBITDA growth has shown signs of deterioration in recent years.


Grindrod Preferrence today is at a discount of 12.9% to the 12-month high of ZAR82.0 on 19 Jan, 2017. It is at a premium of 2.1% to the 12-month low of ZAR70.0 on 16 Jan, 2018.

The preference stock has underperformed 59% of the South African market over the past 6 months.

Grindrod Ltd. Pfd. (J:GNDP; JNB:GNDP; SJ:GNDP)

ISIN: ZAE000071106

PermID: 4295889214