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South Africa JSE Top 40 Stock IndexSouth Africa JSE Top 40 Stock IndexSouth Africa JSE Top 40 Stock Index

South Africa JSE Top 40 Stock Index

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AFRICA40 trade ideas

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JSE:J200Education
by Timonrosso
1
JSE Top40: Overbought on Daily TimeframeThe JSE Top40 daily chart is showing exhaustion, one can make a case for a confluence of resistance around current price level while RSI is turning from an overbought position. Today (16th Nov) price has confirmed a swing high which increases the confidence that we are heading down & price will have to go below the blue uptrend support before finding a low. The index itself is not ideal to short, however it gives a guide for picking those shares that offer higher reward & have a positive correlation to the index. For those who are long underlying shares, it affords the opportunity to open short hedging positions who profits can add to long to medium term holdings when the index turns upwards.
JSE:J200Short
by runyamhere
JSE ALSI 40 ready to rock to 73,300The JSE ALSI 40 is finally showing strong upside since April 2022... It's broken up and out of a box formation and is showing the first target to 73,300... This is based on following the recent America's rally with the inflation rate coming down finally and dropping below the expectations. GDP is picking up and jobs have added over 261,000 jobs. The leaders of the pack was Naspers, Anglo American, Sasol and Shoprite helping push up the JSE. Bullish Bias...
JSE:J200Long
by Timonrosso
1
JSE Top40: The Bearish CaseWhile expectation is for the US dollar to give respite to risky assets, there is a hidden possibility that the JSE Top 40 has resumed a downtrend after an attempt of a rally from 15 July to 16 August (Bear Market Rally). 1 September would have marked a cycle low but a higher high, the breach of this price means downtrend has resumed with possible bottom in late October to first week of November with the lower trendline supporting the price. If one is long, it would help to open short positions & close them when a swing low is formed at the end of October/beginning of November. The swing high from there would be an opportunity to open new short positions to hold into mid to end of December. An exit strategy from long positions would be to buy the swing low then exit at break-even.
JSE:J200Short
by runyamhere
The line of least resistance still facing to the floorIt seems the line of least resistance is still point downward. The strongest group of stocks (financials) seems to be also giving grown and losing their will to rise. As the US S&P500 failed to break its 50 day EMA reversing with a bearish engulfing candle and shooting right through the 50 day EMA. Seems the US has sneezed. We normally catch a flu. rates still going higher Fed adding another 75 points. The wedge is narrowing. and that's worries some.
JSE:J200Short
by VillageTraderZA
Choose your loss buy or sell We are currently in a very difficult trading environment for the JSE ALSI 40 (and the stocks in the index) and I believe world wide (with most markets). This sideways movement has been going since July 2022... The world is in a rut with major issues like high inflation, ongoing interest hikes, currency collapses, US dollar strength, UK economic collapse, East wars and COVID recovery. Our hands are unfortunately tied, how long this will last and what the damage will be (drawdown wise). But we will control it with lowering our losses from 2% to 1.5%. This will all be guided through a process until we overcome it... But it's part and parcel with trading and it's something that is very common on a yearly basis... HOWEVER! This is crucial to understand as a trader. Since the derivative markets, the algorithm of movement (between buying and selling) has changed drastically. From the markets moving in strong trends (70% of the time) from 1940 - 2007 where a monkey could have thrown a dart and profited from any Blue Chip stock for 20 years. To now we are seeing the markets trend around (20% of the time, if that) from 2007 -2022. We have no choice but to make the stop loss and take profits prices tighter and to hold for less period of time. This will be a patience game but will be worth it in the end. Only those strong enough to stick around and act accordingly with their correct risk management will reap the rewards. What are your thoughts?
JSE:J200
by Timonrosso
1
JSE Top 40 IndexJSE TOP 40 INDEX - Strong upside follow-through from support between 56823 and 57482 - the range we discussed last week (circled area). The index reclaimed the 8-day EMA and has closed in line with the flat 21-EMA. At current levels, I'm expecting a consolidation (after yesterday's strong rebound). The rating has shifted from WEAK to NEUTRAL while the index is trading in the mid-point of the 2 std deviation 20-day linear regression channel. For more research, including traded ideas, get in touch today.
JSE:J200
by techpers