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Timonrosso
Jan 23, 2023 12:52 PM

JSE ALSI showing strong upside thanks to China & January Effect Long

South Africa Top 40 IndexJSE

Description

JSE has been forming a fantastic Cup & Handle since March 2022.
The price broke up and out of the brim level and I want long and bought it.
7>21 (Bullish)
Price >200SMA (Bullish)
RSI >50 (Green back) Bullish
The first target is 83,209

It seems like despite the economic crisis with load shedding, water outages - The rand has gone up a bit since inflation slowed at 7.2%.
Naspers and Prosus are also helping the JSE head on up with the run up on China since the Covid restrictions.
I guess the January Effect is still strong and we should continue seeing upside to come - touch wood.
Trade well, live free...
Timon
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