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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

TOP 40 - Simple AnalysisLooking at the TOP40 Index, we may derive the following from the weekly chart: 1. Price is at a notable resistance level where many rejections have occurred. 2. Prince is backtesting the weekly trend line break (purple line). 3. I am favouring a move to downside. 4. Since we are at a high, the risk is far less than trying to short once the move has occurred (if it does). 5. As always - maintain your risk management. Let's see what happens. Note: The views provided herein do not constitute financial advice.
JSE:J200Short
by zeerotrader
1
Top40 - How I miss the good old days!This is not a pretty sight. Should we close at current levels (below 48950), next support levels only seem to be at 47000, which is very much where we started the year. We can clearly see that since the support channel broke on 9 May 2019, that the $JTopi’s momentum turned negative and still worsen every day. The Index is finding itself at extreme oversold levels according to its 14-day RSI. Personally, over the short-term, I will wait for momentum to turn a bit. If not, I will most probably re-evaluate at around 47000 points.
JSE:J200
by SchalkLouw
Buy opportunity on South African stocks.The market is approaching the 48,940 Support. 1M is supported there (RSI = 52.867, MACD = 574.500, Highs/Lows = 0.0000) and the current dip is a solid medium term buy opportunity. Assuming that a roughly -2% Lower High sequence will be maintained we place the next medium term target at 52,200. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
JSE:J200Long
by InvestingScope
JSE:J200 Top40 Waiting for the ElectionThe Top40 has had a great run since the start of the year. On the way up there were two occasions when institutional supply entered the market (seen by the high volume) but was unable to stop the advance. Now the market has reached the highs were previous institutional supply occurred. However, the volume has declined in the leadup to the elections. Trading volume can be expected to be low until the elections are over and the market can decide a direction. Something to note is that the RSI has made a negative reversal and once volume returns to the market we could have a volatile decline.
JSE:J200
by SteynTrade
$JTopi at very interesting levelsI'm very bad at calling "tops" & "bottom". If the market taught me anything over the past 25 years, is to NEVER jump in front of a moving train ;-) Looking at the Top40 technically, it does seem like we're in "overbought" territory according to its RSI. The trend is however very strong (moving averages are also starting to "smile"), we saw a "Golden Cross" on 26 March (very positive) and we could possibly go and test that resistance at 51,850 (if you're short - this could possibly be your stop-loss). Be VERY careful calling a top!!
JSE:J200
by SchalkLouw
J200 top40 looking exhausted... $JSE $j200I have decided to have a deeper look into the technical structure of our top40 index which should give you a better technical view of what to expect from our market. Firstly interesting to note is that price has rejected off the 61.8% fib retracement using the last swing high and low that we saw between August and October last year. We have seen numerous topping tails below this fibonacci retracement whereby the market has tried to rally but price fell back to the lows of the day by the close (bearish characteristic which shows that sellers are appearing on any attempted rallies). Also interesting to note that the RSI has broken out of its uptrend, and has now retested this level and failed today. A convincing close below 49200 should give me confidence that we have seen a top in our overall top40 index. Caution advised going forward..
JSE:J200Short
by MarcoOlevano