Satrix Top 40 Aims for R80 Price Mark
1. Price Formation: The price has broken out from a symmetrical triangle price formation on a daily chart.
2. Moving Averages: The 7-day moving average (MA) is above the 21-day MA, which is a positive sign indicating short-term bullish momentum.
3. 200-day Moving Average < Price.
4. Relative Strength Index (RSI): The RSI is greater than 50, indicating bullish momentum and potential further upward movement.
5. Price Target: R80
Satrix Top 40 – the ETF
The Satrix Top 40 is an Exchange Traded Fund (ETF) based in South Africa. ETFs are investment funds that are traded on stock exchanges, much like individual stocks. They are designed to track the performance of a specific index, sector, commodity, or asset.
In the case of the Satrix Top 40, the ETF is designed to replicate the performance of the FTSE/JSE Top 40 Index, which is composed of the 40 largest (by market capitalization) companies listed on the Johannesburg Stock Exchange (JSE). This includes a broad range of companies from various sectors.
By investing in the Satrix Top 40, an investor effectively gains exposure to the performance of these top 40 companies without having to buy shares in each individual company. The fund purchases the shares on behalf of its investors and manages the portfolio to ensure it continues to mirror the performance of the FTSE/JSE Top 40 Index.
1. Price Formation: The price has broken out from a symmetrical triangle price formation on a daily chart.
2. Moving Averages: The 7-day moving average (MA) is above the 21-day MA, which is a positive sign indicating short-term bullish momentum.
3. 200-day Moving Average < Price.
4. Relative Strength Index (RSI): The RSI is greater than 50, indicating bullish momentum and potential further upward movement.
5. Price Target: R80
Satrix Top 40 – the ETF
The Satrix Top 40 is an Exchange Traded Fund (ETF) based in South Africa. ETFs are investment funds that are traded on stock exchanges, much like individual stocks. They are designed to track the performance of a specific index, sector, commodity, or asset.
In the case of the Satrix Top 40, the ETF is designed to replicate the performance of the FTSE/JSE Top 40 Index, which is composed of the 40 largest (by market capitalization) companies listed on the Johannesburg Stock Exchange (JSE). This includes a broad range of companies from various sectors.
By investing in the Satrix Top 40, an investor effectively gains exposure to the performance of these top 40 companies without having to buy shares in each individual company. The fund purchases the shares on behalf of its investors and manages the portfolio to ensure it continues to mirror the performance of the FTSE/JSE Top 40 Index.
Trade closed: stop reached:
A false breakout reversed and hit my SL.