JSE Top 40 index: Thursday 02 may 2024 As per Tuesday’s pre-market above, the index traded higher followed by a failure to hold it’s highs. This resulted in what’s known as a ‘dark could cover’ candle formation. The price action is reflective of short term selling/distribution following the strong preceding upside move.
You know that trading is a mental game. And if you play it wrong, it can be very draining on the mind and the soul. Your aim is to make trading effortless and not overstressing. And to do this, you need to avoid making these draining trading habits. That’s what we’ll cover in this piece. Personalise Losses: The Emotional Pitfall Ever felt like the market...
Astoria Investments Ltd. (ARA) is structured as an investment company with the aim of providing investors access to a diverse portfolio of equities primarily located in developed economies. After a period of suspension from September 2020 to April 2021, the company's shares have resumed trading, albeit at a price significantly below its net asset value (NAV),...
See link below for previous analysis. There's a case to be made that the five wave decline from 3150 is complete. If that is the case, 914cps should hold and the bear market bottom is in. I am looking at the advance from 914 to 1218 as wave (i) and the pullback as wave (ii); wave (ii) may not yet be complete but should terminate above 914 for this bullish...
See link below for previous analysis. Argent has had a strong run from the 2015 bottom at 302cps. The advance is unfolding as a five wave Impulse labelled wave (1) to (5); the stock is currently in wave 5 of (3) with wave 4 having terminated at 1101cps. Wave 5 of (3) itself looks to be unfolding as a five wave impulse that is currently in wave {iii}; wave {iii}...
See link below for the long-term view. Looking at price action from 14662: The advance to 20300 is a leading diagonal for wave 1. The correction to 15503 is a zig zag for wave 2. The stock is now in the early stages of wave 3 which can only be a five wave impulse. Waves {i to v} in green give the idealized road map for wave 3. 15503 is the secondary...
They are down nearly 40% since its peak in March 2022. This pullback mirrors similar trends observed in other South African Inc stocks. Currently, the share price has retreated to the lower trend line that has been established since 2022, finding support at R86.50. This pullback may potentially position the stock for a rebound. Our Entry: R88.00 There are some...
This is the first time of ARM. The big picture is one of very volatile swings in price as can be seen by the points and percentage changes in price when the stock is in bear mode. 2005 to 2008 was a great bull market where all one had to do was buy and hold. 2008 to 2016 was a big bear market that unfolded in a three wave zig zag pattern. The advance from 2016...
A price action above 9100 supports a bullish trend direction. Further bullish confirmation for a break above 9400. The target price is set at 9800. The stop-loss price is set at 8800. The price action is counter-testing the lower range of the declining channel pattern. Remains a risky trade.
A price action above 19800 supports a bullish trend direction. Further bullish confirmation for a break above 20700. The first target price is set at 21500. The second target price is set at 22800. Remains above both the confluence of its 200-day and 200-week simple moving averages. Also appears to have found support at its 38.2% Fibonacci retracement...
An effective way of assessing opportunity is via the JSE technical summary, which is published daily. In south africa, or on the jse, there is a lack of breadth data which has forced one to use alternative tools to measure breadth. Fortunately, the tools and methodologies have served clients well. Most recently, the market pulled back, which saw 21 shares in a...
NPN Naspers The print into overbought conditions has been an opportunity to sell. Look to enter at lower levels.
PRX Prosus The print into overbought conditions has been an opportunity to sell. Look to enter at lower levels.
Anglo American (AGL) effectively mitigates the typical risks associated with commodity stocks through two main strategies: diverse mineral operations and a strong financial foundation. The company's diversification across different minerals helps buffer against downturns in any single commodity market, while its robust balance sheet provides substantial resilience...
Efora Energy (EEL) is an African oil and gas company that has been a part of the industry landscape since its incorporation in 1993. The company was listed on the Johannesburg Stock Exchange (JSE) in October 1994 and has engaged in various sectors of the oil and gas industry, ranging from production to distribution across several African countries. Efora operates...
Finbond Group Ltd (FGL) is a company engaged in micro-lending and insurance operations, with a significant presence in both South Africa and the United States. The company has outlined ambitious plans to expand its operations in the US, aiming for 70% to 80% of its income to come from the American market within the next 3 to 5 years. As of the latest reports,...
Oasis (OAS) is a property company that manages various properties applying the principles of Islamic finance. It also manages institutional investments and retirement portfolios for governments, parastatals, collective investment schemes and private individuals. It has a number of wholly owned subsidiaries that engage in insurance, fund management and property...
Reinet Investments S.C.A. (RNI) is an investment holding company, with its primary asset being a significant stake in British American Tobacco (BAT), constituting roughly 2.12% of BAT's shares. This stake is valued at approximately $1.8 billion and represents about 31% of Reinet's net asset value (NAV), a substantial decrease from 85% a decade ago. The reduction...