Kiwi Property Group (KPG:NZX)
Technical Summary: KPG has moved upto $1.20 since we last recommended a BUY at $0.90 in April and then again in May at $1.02. The company has announced that since the return of Level 1 the foot traffic to its property portfolio has increased by 1% on the same period last year. Many of their centres have recovered strongly in Auckland and Palmerston North. The company has also mentioned in the latest announcement that it intends to resume dividend for the year ending 31 March 2021. We see that the chart is trading in its Uptrend Zone and at a good discount to its NTA of $1.26. With the latest positive update, we see the stock is set to move higher in the coming weeks towards its first resistance at $1.20 and from there towards its NTA of $1.26. In the longer-term chart is set to touch the $1.40 level of resistance.
