JSE:NPK continue with its downtrend. R1.20, potential support level.
JSE:SZK just clocked a 52 week low. What went wrong? Probably FOMO, the IPO was R40/share. Nature is healing.
JSE:PRX has closed its June gap, JSE:NPN is yet to fill its gap. PRX is trading below key MAs, if there's no bounce here, it might go test the recent low at R710.
JSE:TGA is approaching an area of value. The 200 MA is near R240/share, in case there's no support at this potential support level.
JSE:GND , following a good run, has pulled back to a rising, probably flattening, 30 MA. Can play the dip, keeping in mind that most of the dips kept on dipping.
JSE:SDO is currently on the list of 52 week high and a potential breakout on the weekly timeframe. There's a noticeable heavy buying volume in the past few weeks, possible accumulation? Breakouts have been failing lately, anything can happen but this is a promising long setup.
Fundamentals aside, there was a time where JSE:NPK had promising technicals. Bought the stock and it failed to move up, after months of waiting I had to pull the cord. With the benefit of hindsight, that was a good thing to do. The stock is closing the week below R2/share and on the list of 52 week low stocks.
JSE:CPI released results, good/bad/whatever, this week. The stock rallied a bit a day before the results, but the market hasn't been kind to JSE:CPI and other banks. Currently the stock is trading near R1560/share. R1530-ish once acted as an area of value, resistance turned support. Will the "support" level hold?
TVC:UKOIL is still on the downtrend, and JSE:SOL seem to be following it. At the moment I wouldn't be surprised if JSE:SOL test R245/share.
JSE:INP JSE:INL had an incredible run in 2021. Like most stocks, it's experiencing challenges in 2022. The stock has been trending lower; above R75, it can find support. Below R74 things could be worse. Our charts show that the financial sector, and banks, is weak. Not hopefully that R75 will hold but the market will decide.
Initially I was hoping that JSE:SHP was gonna break above the previous high of R246, it couldn't. It's been pulling back to the 30 wMA, and it's currently trading below it, not a good thing. Also, it seems like it has formed a double top, I may be seeing things, but a double top and price below the 30wMA is not a recipe for success (except shorting success).
JSE:J200 is back at the recent lows (58.6K-ish). Most stocks are weak, what are the odds that the Top40 can bounce here? Add the middle of nowhere low near 56K. Rough market.
JSE:NPN & JSE:PRX traded above the 200 dMA mid-June, bringing a glimpse of hope. A decent move it was for Naspers (the move resulted in a profitable position, in a tough market, sibonga noma yini) but Prosus is now below the level and there's a gap that might be filled. Naspers is still above the MA, but for how long?
NASDAQ:PYPL close below the 10 wMA negates the attempted recovery. Stock still trading below declining key MAs. We've seen other attempted recovery failures with stocks that traded near (or above for a while) the 200 dMA.
JSE:CPI broke below R1900-ish last week. The stock continue to show signs of weakness, if the downward move persists, the next potential support level is near R1500/share. The financial sector is still under pressure with the other banks trending lower as well.
JSE:J200 is trading below a declining 200 dMA. Ja. That's all I can say.
It's hard to say that JSE:SBK is at an area of value. Financials are weak, it'll take a decent amount of buying to keep the stock above this "support" level.
JSE:SNH traded below R2 today. The end isn't near!