A price action above 6000 supports a bullish trend direction. Furhter bullish confirmation for a break above 6200. The target price is set at 6400 (its 38.2% Fibonacci retracement level). The stop-loss is set at 5800 (its 0% retracement level). Testing major resistance. A bounce from oversold territory on the RSI supports a speculative long opportunity.
There are two potential rising formations to come for Sasol. Either Rev Cup and Handle or Inv Head and shoulders We do need the confirmation though for upside to continue to come. Moving averages yield a Medium Probability setup with Price>20 Price<200 Oil is also confiriming a short to medium term rally which will help push up the price Target R228.61
The weekly real yield is in uptrend, which should act as support for the USDOLLAR and as a headwind for the risk markets. This video is intended for the users of Stratos Markets Limited, Stratos Trading Pty. Limited and Stratos Global LLC, (collectively “FXCM Group”). Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high...
See link below for previous analysis. MTN released its FY'23 results on the 25th of March and it was a mixed bag of results. Salient features: Group service revenue grew by 6.9% (13.5%*) to R210.1bn (2022: R196.5bn) EBITDA (before once-off items) down by 0.5% (9.8%*) to R90.5bn (2022: R90.8bn) EBITDA margin lower by 3.0 percentage points (pp) to 40.9% (1.2 pp*...
JSE Sector Relative Change vs Top 40. Data as of end of Friday 05 April 2024
JSE Sector Ratings This data shows a sector's technical rating across multiple time frames, relative to the JSE Top 40 Index.
Technical Summary: Mid & Large Caps, as of Friday's close. Here, you are able to view which phase a share might be in. Overbought, High Bullish Momentum, Strong, Neutral, Weak, High Bearish Momentum, Oversold.
Reading Time: 1 Minute On Thursday, AGL traded above R500, exceeding the R478 upside target. At current levels, the share is in a high bullish momentum phase, while also approaching an overbought range. Traders need to monitor for a deteriorating short term candle structure which could mean that the upside momentum is being lost. Failure to the previous...
Previously known as Mine Restoration, this company invests in mining resources. It owns the Langpan Project which mines and processes chrome with a high concentration of platinum group metals (PGM). The Langpan orebody consists of 3.1 million tonnes of open cast resource and over 4.9 million tonnes of underground resource, as confirmed by MSA Competent Persons...
Harmony (HAR) is probably South Africa's most marginal gold mine. A marginal gold mine is one which has a cost of extraction which is relatively close to the current gold price. This means that small movements in the rand price of gold can have a radical impact on the mine, pushing it from profit to loss and back to profit very quickly. The result tends to be a...
See link below for previous analysis. The best way to describe the ascent from the May 2020 low is creepy-crawling. SBK stock has been steady with price well supported by the mid-sloping trendline. As price has continued making higher highs, the MACD has made lower highs giving a bearish divergence signal. This does not imply a bearish reversal but that a...
Naspers has found the going tough since the January 2023 peak, trading sideways in a wide range. The consolidation has not been a textbook rectangle with supporting shifting zones but the resistance has been stern around 355300 cps. The stock caught a big at 267330 and is again approaching the resistance for a third attempt to break above it. I am neutral at...
See link below for previous analysis. Discovery has traced out the three wave decline I forecasted after the five wave advance from 10073 to 16042. The decline is labelled as a zigzag with a triangle wave and wave is now near the support trendline of the falling channel. There is no evidence of a reversal yet. For this bullish, bigger picture ABC outlook to...
See link below for previous analysis. Jubilee has continued to trade lower and having breached 128, i am tentatively abandoning the five wave count as wave (4) has penetrated the price territory of wave (1) violating one of the golden rules of an impulse. The bear market from 426 is forming a falling wedge which is bullish but price can still go lower. I will...
See link below for previous analysis. Sasol has continued its strong selloff, going well below the support zone of my previous analysis. Price action is giving better Elliott Wave context. I am looking at the bear market from 43860 as a zigzag with the bounce from 13226 for wave (iv) of . The zigzag is well contained in a falling channel and a clear break out...
Grinship JSE is above the 1 Week VWAP. However this stock has a low volume trade. The latest SENS seems to taken as a positive signal due to the upcoming Capital Reduction. As with all Investment's one must do their own research or get expert advice. I hope this ticker is discussed on the Business TV news so more insight can be gleaned. If you do Trade, always use...
Oando (OAO) is an oil and gas company located primarily in Nigeria. It has listings on both the JSE and the Nigerian stock exchange. The problem with a share like this from a private investor's perspective is that it is highly risky. Firstly, it is a commodity share whose fortunes are determined by the international price of oil. Secondly, its business is located...
Spear (SEA) is a real estate investment trust (REIT) focused on properties in and around Cape Town, benefiting from the expertise of its founders and management team in the local property market. Since its inception, Spear has demonstrated consistent growth in its property portfolio, currently valued at around R4.5 billion, despite its market capitalization...