Sun International has been a roller coaster of a ride.
Been swinging between R38.00 and R42,50.
Well, lately we've seen higher lows, and the price keeps touching the top.
It's like hitting thin ice. Eventually it'll break up and out.
So, let's see what it does.
UPDATE:
Over the past year, the most notable insider purchase was made by CEO & Executive...
Similar to the previous analysis with City Lodge I just did, Hospitality, Hotels and entertainment sectors are showing strong upside to come.
Whether it's because of the strong earnings, pause of interest rates, more foreign investments with the weakening dollar - Who knows.
But the charts, are showing upside to come.
We have the Cup and Handle formation, a...
Inverse Cup and Handle has formed for this stock since 17 March 2023.
The price breakdown took place on 23 June 2023.
Momentum is showing downside to come with the next support to R28.00
Price<200 21>7
RSI <50 lower highs
Target R27.38
ABOUT THE COMPANY
Sun International is a South African-based company primarily involved in the gaming and hospitality...
JSE:SUI came out with excellent results last week. Price action is encouraging, however, the general market is weak. A long trade can be taken with caution. Breakouts tend to fail in weak markets.
JSE:SUI interim results show improving fundamentals. The Group revenue grew by 37% and basic EPS up > 100% (94 cents), and the company declared a gross interim dividend of 88 cents.
Technically, the stock has been finding support in a rising MA, but kept short of breaking above R32/share. Hopefully these results will help push the price to a new 52 week high,...
JSE:SUI has made a strong upward move in the last two days. It is up over 11% in just today's price action. Currently it is trading at a strong trendline. It could either bounce off and make it's way down before turning up again, but if it breaks through, I think we can potentially see an extended upward move.
