ZAR very much on the front foot after another strong day against the dollar. DXY basket is actually up on the day, but ZAR up nearly 0.7% against the greenback. Look for further ZAR strength to 14.14 and then possibly to 13.83
Massmart having a very strong day. Currently up nearly 10% and breaking through resistance around R49. If it keeps its upward momentum, it could run until the mid R60's...offering over 20% of upside. This, however, is in contrast to the fundamentals and the impact anticipated by load shedding on SA retailers
After a good run from Aspen, it looks like the gap up will have to be wait to be filled. The share has run out of steam and tracking lower. Import level here as it should find support near its 50 day MA, otherwise likely to fall back to 200 day MA - which looks to be currently around R100
After a decent run in the woolworths $JSEWHL share price since May '19, the share price has fallen nearly 18% since its recent high in early November. The more recent catalyst for the fall was the trading update on 27th of Nov. Woolies food continues to do well but the rest of the business and Australia, weighing in on sentiment. Look for support around the R49.90...
Market reacting positively to the trading update issued this morning by British American Tobacco $JSEBTI. The price is looking to break out of sideways range and a move above R581 could clear the way for a move up to R610. Above R610 the next profit target is all the way up at R675
Eurostoxx 50 has been on a very strong run. Key level being tested on the 5 year weekly chart. The index has already reached a 5 year high but if can break and hold above the resistence line at 3705 it could head up 3824 and anything above that would be the high going all the way back to May 2008
Exxaro $JSEEXX trending up nicely after having fallen after the payment of the special dividend. On the weekly chart, share price looking like it should reach R150 where it will meet a strong previous support line and its 50 week moving average
Technically gold looks like it should continue trending up to resistance at $1,500. It will however have to push through its 50 day MA, but risk off sentiment with US and China phase 1 trade deal looking further away, could be the catalyst
Blue $JSEBLU has found good support off the 257 level. Share price trending up on news of potential acquisition of Cell C by Telkom. Risk reward ratio is about 3:1 with upside target of 338 and stop loss at 257. Share price looking to break above 50 day MA at current levels
Sappi $JSESAP is approaching strong resistance. Previous support line turned resistance as well as 50 day MA will provide short term resistance but there is also a longer term downtrend that will need to be cleared at around R42 before entering a long position.
Strong day for Mediclinic. Looking to retest resistance around R60. If price can break through and hold above, there is potential upside to R76 (above 18% from current levels). Despite recent pull back, trend is still upwards with higher lows being posted