Jse
#APN Aspen Pharmacare looking constructive on the weeklies #jseScanned a couple of stocks on the JSE and it was tough to find many decent setups although Aspen is one that stood out for me on the LONG side.
3 reasons I think this setup is constructive and likely goes higher to at least R200
(1) Weekly price action has been making consecutive higher lows since bottoming out in August 2019. (showing relative strength in comparison to the market which has been moving lower.
(2) We are trading above both the 200 week moving average as well as the yearly Pivot.
(3) Divergency on RSI where RSI shows higher lows even though price made an equal low on the last move down.
I think one can buy this at current levels (approx R146.00), using a stop loss as a weekly close below 132 and a target of approximately R200. From a risk standpoint that's a risk of R14 for a target of potentially R54 which is quite decent.
Let's see how we go over the next couple of weeks
Head and Shoulders on Pepkor with strong downside to R16.38Head and Shoulders formed on Pepkor a few days ago.
The price broke below the neckline accompanying with other bearish signals.
200 >21>7 MA- Bearish
RSI<50 - Bearish divergence with lower highs
Target R16.38
ABOUT THE COMPANY
Pepkor was founded in 1965 by Renier van Rooyen and his wife, Elsie.
The company started as a small clothing store in Cape Town, South Africa, and has since expanded to become a major retail conglomerate.
Pepkor operates various retail brands, including Pep Stores, Ackermans, Shoe City, John Craig, Dunns, and Tekkie Town.
Pep Stores is the largest retail brand in the Pepkor group, with over 2,200 stores across Africa.
Ackermans is another major retail brand in the Pepkor group, specializing in clothing and homeware.
Shoe City is a shoe retailer with stores across South Africa.
John Craig is a menswear retailer with stores in South Africa and Namibia.
Dunns is a clothing and homeware retailer with stores across South Africa.
Tekkie Town is a footwear retailer with stores across South Africa.
Inv Cup and Handle on Mr Price heading to R133.00Inv Cup and Handle formed on Mr Price.
The price broke below the brim level and is showing downside momentum.
There is a previous support that still needs to break before all systems go, but my signal definitely gives a sell here.
Indicators all look bearish
200 > 21 >7 MA
RSI <50 - Bearish divergence
Target R133.00
ABOUT The company
Mr Price was founded in 1985 by Laurie Chiappini in Durban, South Africa.
The company started as a small clothing store called Mr Price Fashion, which sold affordable and trendy clothing for young adults.
Mr Price has since expanded its product offerings to include homeware, sportswear, accessories, and beauty products.
The company operates in South Africa, other African countries, and Australia.
TARGET REACHED: Motus hit the expected price at R105.32 From the last update on 23 February, we saw Motus form a Reverse Cup.
The price broke below the brim level and the indicators were all negative.
21>7>200 - Bearish
RSI<50
The price hit the target of R105.32
The trends are all down and bearish, and there is no incentive to buy the low on my charts. I don't believe in BTD (Buy the Dip). I believe in Buy high sell higher. Sell short buy lower.
Simple.
Sasol Inv Cup and Handle just made it bearish to R221.11Inv Cup and Handle formed on Sasol.
The price broken below the brim level.
The gap was filled when the price went back up to close and form the right handle.
Then the supply side kicked back in dropping it further.
We also see bearish indicators.
200 > 21> 7 - Bearish
RSI<50 (Lower highs) - Bearish
Target R221.11
ABOUT
Sasol is a global energy and chemicals company based in South Africa. It was founded in 1950 and was originally named the South African Coal, Oil and Gas Corporation.
The company is primarily focused on the production of synthetic fuels, chemicals, and gas. Sasol is one of the world's leading producers of synthetic fuels.
Sasol operates in more than 30 countries around the world and employs approximately 30,000 people.
The company is listed on the Johannesburg Stock Exchange and the New York Stock Exchange.
Sasol is one of the largest producers of low-emission transportation fuels in the world, including synthetic diesel, jet fuel, and naphtha.
In addition to its energy and chemicals operations, Sasol is involved in a number of other businesses, including mining, power generation, and technology.
Merafe Analysis on track to R1.66 and about the companyThe Cup and handle formed, broke above the Brim Level and now looks like it's heading on up.
The price above the 200MA is the first time since Sep 2022...
Target 1 at R145.
Target 2 R1.66
ABOUT
Merafe Resources is a mining giant company that was founded in 2005 and is based in Johannesburg, South Africa.
The company's primary focus is on the production of ferrochrome, which is used in the production of stainless steel.
Merafe Resources operates in partnership with mining giant Glencore, with the two companies jointly owning and operating the Glencore-Merafe Chrome Venture.
The Glencore-Merafe Chrome Venture is one of the world's largest producers of ferrochrome, with operations in South Africa, Kazakhstan, and Australia.
It has a market capitalization of over R2 billion as of February 2023.
Ferrochrome which is used in the production of stainless steel makes products like:
Stainless steel cutlery, Kitchen appliances, Construction materials, Medical instruments (Surgical tools and implants), Jewelry (e.g. watches)
Aerospace components (engine parts and turbine equipment), Electronics and the list goes on...
Remgro heading straight to R165.55 thanks to this triangleAscending Triangle is forming nicely on Remgro.
We see the 7 and 21 MA above 200.
But more importantly, Price >200 - Bullish
RSI>50 - Bullish
Target R165.55
ABOUT THE COMPANY
Remgro was founded in 1990 (Stellenbosch, South Africa) by Johann Rupert, a South African entrepreneur and businessman.
The company was established as an investment holding company with a focus on building a diversified portfolio of long-term investments.
Today, Remgro holds investments in a wide range of industries, including healthcare, financial services, mining, and telecommunications.
The company's portfolio includes holdings in some of South Africa's largest and most well-known companies, such as MediClinic, FirstRand, and RMB Holdings.
The company's name is an abbreviation of "REsource Management GRoup."
Remgro holds investments in a wide range of industries, including healthcare, financial services, mining, and telecommunications.
The company has a market capitalization of over R100 billion as of February 2023.
Ninety One Looking good to R50.82 and about the companyCup and Handle formed which is what we were waiting for.
The breakout was quite vigorous and didn't give us the buy signal until Friday where the price opened above the breakout.
Now that the price came down a bit gives a great buy signal A conservative trader will continue to wait for the price to retest a bit further.
But an opportunist, will buy ASAP.
7>21>200 - Bullish
RSI>50
Target R50.82
ABOUT THE COMPANY
Ninety One (formerly Investec Asset Management) was founded in South Africa in 1991 by Ian Kantor and Bernard Kantor.
The company manages over $140 billion in assets for clients worldwide, including institutions, financial advisors, and individual investors.
Ninety One has offices in Africa, Asia, Europe, and the Americas, and employs over 1,800 people globally.
In March 2020, Ninety One became a publicly traded company, with a listing on the London Stock Exchange.
Standard Bank Showing upside to R200.00 with a major warningCup and Handle formed on Standard Bank.
The price broke above the brim, then it came back down to give a conservative entry.
7>21>200
RSI>50
Target R200.00
WARNING
The biggest issue is that a GAP has formed during the formation. Statistically, gaps close 70% of the time, which means we can expect downside to come in the next few days.
Look the bias is bullish but with the gap makes it a medium probability trade.
Don't jump!I'm not certain the 'retail peasant' can short this but ye.. eish!
Either way, nice entry point?
I feel the Snoop dog song "drop it like its hot" is highly appropriate.
Gold Fields sparked a cautionary SHORT signal to R127.72Inv Rev Cup and Handle has formed on Gold Fields.
The breakout is quite strong and looks like the price is ready to plummet.
The only obstacle in the way is the 200MA which investors might try to buy and hold the price up.
We are seeing mixed signals but the inclination is more SHORT.
21>7 0 bearish
Price> 200 mixed
Target R127.72
ABOUT
Gold Fields Limited (Founded in 1887 by Cecil Rhodes and Charles Rudd) is a South African gold mining company headquartered in Johannesburg which started in Witwatersrand, with operations in South Africa, Ghana, Peru, and Australia.
Gold Fields is one of the largest gold mining companies in the world, with a market capitalization of around $10 billion as of February 2023.
The company produces around 2 million ounces of gold annually from its mines in South Africa, Ghana, and Australia.
Gold Fields employs around 10,000 people in South Africa and is one of the country's largest private sector employers.
MOTUS Reverse Cup and Handle target to R105.32Reverse Cup and Handle formed on Motus.
It also formed a bit of a GAP which is not conducive for trading as we can expect the gap to close.
21>7>200 - Bearish
RSI<50
Target R105.32
ABOUT
Motus Holdings Limited (founded in 1948 as Imperial Holdings Limited and then changed the name to Motus Holdings in 2018) is a diversified automotive group based in South Africa, with operations in South Africa, the United Kingdom, and Australia.
Motus Holdings operates in four primary segments:
Automotive retail and
rental,
automotive parts and
accessories,
aftermarket parts, and
financial services.
The company is the largest vehicle retailer in South Africa, with a network of over 250 dealerships across the country.
Motus Holdings also operates the largest car rental fleet in South Africa, with over 14,000 vehicles available for hire.
Motus Holdings has a market capitalization of around ZAR 14 billion (as of February 2023).
UPDATE Sibanye short going nicely target still to R35.77SSW Update The M formation formed nicely, broke below the neckline.
The price is coming down as the supply increases and the momentum is still down.
7<21<200
RSI<30
Target remains at R35.77
ABOUT
Sibanye-Stillwater (founded in 2013) is a mining company based in Johannesburg, South Africa, that specializes in precious metals extraction.
As a spinoff from Gold Fields Limited, it has since grown to become one of the largest mining companies in South Africa.
Sibanye-Stillwater operates four gold and platinum group metals mines in South Africa, as well as mines in Zimbabwe and the United States.
Sibanye-Stillwater has a workforce of approximately 84,000 people across its operations.
Also. it has interests in platinum recycling and other metals processing.
Barloworld has a 70% chance of moving to R107.85 - Read why Cup and Handle formed on Barloworld after the Breakaway gap.
The price then moved sideways and the buyers showed stronger momentum than sellers.
Now with gaps there is a 70% chance of the gap closing which is good for when you're trading it using patterns.
7>21 but <200MA
Target R107.85
WARNING
The Moving Averages are still very close to each other which means we can even see sideways movement for an extended period.
But we have our levels and we are bullish for now.
ABOUT
Barloworld Limited is a South African multinational corporation founded in 1902, headquartered in Johannesburg, South Africa.
The company operates in several sectors including equipment, automotive, logistics, and corporate real estate.
Barloworld has operations in 32 countries, primarily in Africa and Europe, and employs over 17,000 people globally.
The company is a distributor of Caterpillar equipment and also provides related services such as financing, maintenance, and repair.
Barloworld's automotive division is the sole distributor of BMW and MINI vehicles in Southern Africa.
The company has a market capitalization of around ZAR 28 billion (as of February 2023).
KAP Industrial showing strong downside with this rare pattern Reversal Diamond Formation formed on the daily.
This is a broadening reversal pattern that forms in the shape of a Diamond.
Because the previous trend was up, the Diamond moved sideways and then the price broke down, shows the likelihood of it dropping is bigger.
200>21>7 _ Bearish
RSI <30 - Bearish
Target R2.25
ABOUT
KAP Industrial Holdings Limited (KAP) (Founded in 2004) is a diversified industrial conglomerate headquartered in Cape Town, South Africa.
It's one of the largest industrial groups in the country which also operates in a range of industries, including logistics, automotive components, timber, chemicals, and more.
Some of the company's well-known brands include Safripol, PG
In 2020, KAP employed over 20,000 people across its various businesses and operations.
BRAIT showing strong downside to come to R2.50Large Bear Box Pattern formed over the last year with Brait.
And unfortunately it gets worse.
The Highs have become lower and lower accompanied by bearish indicators.
200 > 21> 7 - Bearish
RSI <50 Bearish
Target R2.50
WARNING:
The breakout was definitely not a strong one. So, if there are strong prospects and investors want to protect the company, it could very well be a fakeout. Until then it's bearish until the trend turns.
ABOUT BRAIT
BRAIT SE (Est. 1995 in Stellenbosch, South Africa) is an investment holding company listed on the Johannesburg Stock Exchange (JSE) and the Euro MTF market of the Luxembourg Stock Exchange.
BRAIT invests in a diversified range of businesses, including consumer goods, health and wellness, and technology, media, and telecommunications (TMT) sectors.
BRAIT has a global presence, with investments in South Africa, Europe, and the United States.
Here are some companies BRAIT has major investments in
Premier Foods - a leading food manufacturer in South Africa, producing a range of products under popular brands such as Blue Ribbon, Snowflake, and Manhattan.
Virgin Active - a global health and fitness club chain, with over 200 locations in the UK, South Africa, Italy, Spain, Portugal, and Australia.
Iceland Foods - a UK-based frozen food retailer, known for its value and convenience, with over 950 stores across the UK.
Growthpoint wants to come down but this 1 thing is stopping itH&S formed on Growthpoint.
The price broke below the neckline.
But the price still has one major barrier to attack.
the 200MA... As soon as price breaks below, the trade will be more likely to work out.
Right now the price is retesting the neckline giving a potential conservative entry point for shorters.
21>7 - Bearish
Price> 200 - Bullish
RSI<50 - Bearish
Target R11.88
Low probability trade
ABOUT THE COMPANY
Growthpoint Properties Limited (Est. 1987m headquartered in Sandton JHB) is the largest South African primary listed Real Estate Investment Trust (REIT).
Growthpoint has a diversified portfolio of properties, including office, retail, industrial, and residential properties, with a total value of over R150 billion.
Some buildings that Growthpoint owns that you might know are:
Sandton City Office Tower - a 32-story office tower located in Sandton, Johannesburg, South Africa.
Cape Town International Convention Centre - a world-class convention centre located in Cape Town, South Africa.
Alice Lane Towers - a multi-award-winning office complex located in Sandton, Johannesburg, South Africa.
Canal Walk Shopping Centre - one of the largest shopping centres in Africa located in Cape Town, South Africa.
Victoria & Alfred Waterfront - a mixed-use development in Cape Town, South Africa, consisting of commercial, residential, and retail spaces.
Growthpoint has a presence in South Africa, Australia, and the UK, with a combined property portfolio of over 500 properties.
REM - Long coming upAll signs are pointing to an upward move on JSE:REM . We are looking to reach the target at the previous resistance around the 153 level.
ABSA - LongOur momentum strategy is showing all of the signs for a long position on JSE:ABG . We are aiming for a target at the 221 level and a stop loss at the 191 level with a 1:2 risk reward ratio
TARGET REACHED R1.25 Purple Group and now new analysisTarget reached and hit our target at R1.25
Rectangle box showed to be bearish and the price dropped hot and quickly.
We now can have some sideways jumpiness which should form the next formation.
We will wait for the structure before the next post.
ABOUT:
Purple Group is a financial services company listed on the “Financials – General Financial” sector of the JSE. It has subsidiaries that operate in trading, investing and asset management.
Metair skyrocketing to R30.00 with a warningFalling Wedge which looks more like a rectangle flag formed on Metair.
We then saw a Major breakout today.
The next target is generally to the top of the formation.
However, we have mixed signals and a warning.
200>21>7 - Bearish
RSI>50 - Bullish
Target R30.00
WARNING
We need the price to break above the 200MA to indicate it's in a confirmed uptrend. We need to wait for this to happen before the bullishness shows more on the charts.
ABOUT
the group manages an international portfolio of companies that manufacture, distribute and retail products for energy storage and automotive components. Metair was formed in 1948, becoming a supplier of automotive components to a single OEM in South Africa in 1964.
Hulamin downside update to R2.25M Formation formed on Hulamin and we saw bearish signs
The market then broke below and has stayed below the neckline but is creating a somewhat Rectangle.
They buyers and investors seem to be holding the level and supporting it as much as they can.
Once catalyst and the stock will drop dramatically
200 >21> 7 - Bearish
RSI <50 and bearish divergence
Target R2.25
ABOUT:
Hulamin is an aluminium semi-fabricator business located in South Africa supplying customers across Africa and the world with an extensive range of quality products.
Supported by a sales office in South Africa and a network of international agents, the company sells to leading manufacturers and distributors across many industries around the world.
