I’m either missing something or this could be quite a nice entry point into a company which I feel could be in serious value territory. They’ve recently been named winner (in Industrial: Basic Industry) by Investment Analysts Society for their reporting awards, which in my view is a big plus if you look at the recent accounting and reporting practice scandals in...
MTN definitely back on the radar. After a few years of constant bad news, good news lately pushed the share price above its diagonal resistance line, which started in January 2018. Over the shorter term, the 14 day RSI are indicating that $JSEMTN are extremely overbought. Should the share price take a bit of a breather, a close below R92 would put the company back...
Remgro is getting very interesting. Despite the fact that the share price is getting closer to the bottom support level of a Descending Triangle, the company still seem fundamentally sound and somewhat oversold according to its 14-day RSI. Consensus target price (according to Thomson Reuters) on $JSEREM is still R234, which make current levels very interesting for...
End of week 10May19. Another bad week for both Resources & some Property Stocks. FTSE/JSE All Share Top5 oversold/overbought according to 14day RSI indicator as follow: Oversold: Hammerson 22 Glencore 25 South32 28 Hyprop 29 Anglo American 29 Overbought: Delta Property 77 Allied Electronics 70 Transaction Capital 69 Tsogo Sun 68 Cartrack 67 Spending...
Although Compagnie Financiere Richemont SA (CFR) has found its share price in a recovery phase since November 2018, the 200-day Moving Average is still very much pointing downwards, which serves as indication that the trend isn’t all that healthy yet. Price movement since March 2019 created a Descending Triangle that could be very positive for CFR, should we see a...
Over the past year, SPG found support around the R32 quite a few times and always manage to stick. We can clearly the Descending Triangle in the share price movement that developed since the end of 2018 that could be very positive for SPG, should we see a break and close above resistance level at R36. This coincide quite nicely with its 200-day moving average as...
We can clearly the Descending Triangle in the share price movement that developed since the beginning of 2018 that could be very positive for CAT, should be see a break and close above resistance level at $142/share. The share price enjoyed a nice bounce with its 14-day RSI moving out of Oversold territory. We’ve seen the recent negative momentum turning somewhat,...
End of week 7 June 2019. Between a raising Gold Price and much weaker Rand, Gold mines enjoyed another solid week of returns. FTSE/JSE All Share Top5 oversold/overbought according to 14day RSI indicator as follow: Oversold: Tongaat 13 City Lodge Hotels 21 Omnia 24 Clover 24 SA Corp Real Estate 27 Overbought: Gold Fields 84 AngloGold Ashanti...
Infighting within the ANC did not only cause the $ZAR to lose 2.5% against the US Dollar, but substantially more if considered that the USD lost 1.5% against Euro and most BRICS currencies gained about 1% against the USD this week. #BRICS currency/USD movements for this week: Brazil +1.2% Russia +1.2% India +0.3% China -0.1% South Africa -2.5% Euro/USD...
I know local property has been the “ugly stepsister in the family” for the past year or so, but Growthpoint is looking like a nibble. Since September last year (2018), the share price found support around the R23 levels. With the recent pullback in both the market and Rand, we’ve seen the share price back at the R23 levels and extremely oversold according to its...
End of week 31May19. Most of the companies finding itself in the top oversold list are there for good reason and would I caution all “bottom-pickers” to be very careful buying into these companies. FTSE/JSE All Share Top5 oversold/overbought according to 14day RSI indicator as follow: Oversold: Clover 15 Brait 18 Tongaat 21 Glencore 23 RDI Reit 23 ...
The $ZAR is a bit stronger this week, mainly due to US Dollar weakness. #BRICS currency/USD movements for this week: Brazil +1.9% Russia +0.4% India +1.3% China +0.3% South Africa +0.3% Euro/USD +0.4% Technically, since the beginning of 2019, the USDZAR developed a nice little parallel channel . $ZAR still find itself near the bottom of the support...
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...
In one fail swoop, Sasol not only dropping 13% in one day, but also broke a very strong support line at R383.50. Main reason was the Lake Charles Project not only seriously going over budget, but also starting to look like the Never-Ending Story. Debt levels are becoming a serious concern and although the lowish PE multiple, the outlook still doesn’t look good....
Following most Chinese Internet Companies, #Tencent succumbing to the Trump tax-blow. A breakthrough it’s 6-month support line does not paint a pretty picture for the share price going forward. Next support level could be around the lows of March (350HKD), with a break most probably testing the 200-day moving average at 334HKD. Share price has lost a lot of its...
The $ZAR is a bit weaker this week, mainly due to US Dollar strength. Out of all the BRICS countries, the Brazilian Real took the hardest knock, with the Russian Ruble bucking the trend by ending the week in the green. #BRICS currency/USD movements for this week: Brazil -3.5% Russia +0.6% India -0.4% China +1.3% South Africa -1.8% Euro/USD -0.7%...
A very nice little channel that developed in Tsogo Sun ( JSE:TSH ) since July last year. A bounce off the resistance line, could see the price move back to the 50-day & 200-day moving averages at R21.17, with the top of the channel at R22 being possible next stop. A drop below R19-R19.06 should be carefully monitored on the downside. Fundamentally, the company...
The elections are something of the past and from an international point of view, a success. $ZAR reflection the sentiment, improving 1.4% against the USD, while all other BRIC countries weakened. #BRICS currency/USD movements for this week: Brazil -0.5% Russia -0.1% India -1.3% China -1.3% South Africa +1.4% Euro/USD +0.3% Technically, since the...