Hudaco still remains one of my favourite small/midcap share on the JSE. For our full summary on the company currently, click on the following link to read the full report (free): http://oldoak.co.za/wp/index.php/2020/10/23/get-to-know-your-jse-companies-hudaco-industries-ltd-jse-hdc-2/
From a technical point of view, HDC finds itself back into its longer-term channel, currently flirting with the 200-day Moving Average (EMA). Should we see a break a close above R79.10, my next target becomes the top resistance line of the channel (R95), with a break and close above this, bringing our target price of R100 into play.
HDC does find itself at EXTREME OVERBOUGHT environment according to the 14-day RSI, which could see an interim breather on the share price. Should we see a pullback, support level to watch is the 50-day EMA at R72.10, which will be a strong buy level.
From a technical point of view, HDC finds itself back into its longer-term channel, currently flirting with the 200-day Moving Average (EMA). Should we see a break a close above R79.10, my next target becomes the top resistance line of the channel (R95), with a break and close above this, bringing our target price of R100 into play.
HDC does find itself at EXTREME OVERBOUGHT environment according to the 14-day RSI, which could see an interim breather on the share price. Should we see a pullback, support level to watch is the 50-day EMA at R72.10, which will be a strong buy level.
Trade closed: target reached