Long
JSE Cross Sector Positioning: Food Producers v Platinum Shares
Cross Sector Positioning: JSE Food Producers (J357) vs JSE Platinum and Precious Metals (J153) - A chart I previously highlighted. On Friday we saw the downward trend line going back to 15 August 2018 being breached. This follows a base that has been building since 27 February that took the shape of a head and shoulder formation. Adding to the bullish setup is the RSI that broke out one month ago and continues to gain by crossing into bullish territory with a print of 65 while the price has broken above the 50-day moving average. Bottom Line: The technical setup suggests that J357 (Food Producers) is to outperform J153 (Platinum and Precious Metal Shares).
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