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Jse_top40

JSE 40 Index | Daily | Speculation Looking at the JSE 40 all-share Index on the daily chart we can take note that the index has been trading downwards since peaking sometime during Feb 23, now looking to the left again we can take note that after the release of the 1st quarter Dividend & Earnings release the JSE drop on both accounts. Now looking to the right, we can take note that the JSE has been hovering/consolidating on our 8,988 level for the past few days ahead of this weeks CPI, PPI & SARB Interest Rate announcements. Looking further to our right we can expect the JSE to push up from 8,988 to around 9,843 or 10,017 before heading down to 8,229. Else we can expect the JSE to just tumble down to 8,229 if it closes below 8,988. Potential Market Movers: CPI (MoM) - Apr :: 24 May 2023 PPI (MoM) - Apr :: 25 May 2023 SARB Interest Rates :: 25 May 2023
JSE:JSE
by mosa_moshka
#TOP40 South Africa 40 finds support@ trendline + Horizontal supNote how the trendline that has formed has had its 3rd successive touch with a reversal candlestick. Each turn off support has created strong upside price action the following day. The level where the top40 found support is even more significant as the 67500 has been a massive change of polarity on many occasions through the second half of 2023. The bulls have their work cut out for them as the failure to hold price above the 200dma was not a positive development. However in the short term, i think we can retest 69300 and maybe 70 000 but ultimately a close and successive days of trading above 70k is needed for bulls to sustain momentum and drive the market higher.
JSE:J200Long
by MarcoOlevano
JSE ALSI Broken below 200MA first time since Nov 2022Symmetrical Triangle formed on ALSI and the darn price has just been moving within it for months on end. Any JSE short term trader is most likely struggling with the whipsaws. If one is not diversified in Forex or Indices - I don't know how they are making an income this year. Regardless, the price has broken below the triangle and below the 200MA for the first time since Nov 2022. We are seeing bearish signs continue including: 21>7 Price<200 RSI<50 Target 1 will be 60,000. WARNINGS: KNowing the ALSI it could most likely cause another fake-out (haha fooled you) trick again. And the price will go right back into the triangle. The world is showing more bearish signals but as you know things can change SO quickly with the market. Medium term I'm short until further notice.
TVC:SA40Short
by Timonrosso
The JSE ALSI 40 - Boy who cried BULL again! Target 80.384The JSE ALSI 40 has been moving in this large somewhat frustrating Symmetrical Triangle since December 2022. I've been bullish with the index and have expected it to break above the apex by now. But the triangle just keeps on moving in its consolidation sideways range. Thing is, the up signs are showing. This market wants to fly up and the rest of the international markets are holding it down. But now with the breakout above the Falling Wedge with the S&P 500 and Nasdaq, maybe we can get our push up finally. Other indicators confirm upside to come Price>200 - Bullish - 7 needs to cross above 21 thought RSI>50 and higher lows are being formed. Target 1 is now moved to a higher 80,384. Can we get our breakout now. Us breakout traders have been patient enough...
JSE:J200Long
by Timonrosso
JSE ALSI Setting itself for upside? Maybe we don't sell in May?!JSE ALSI 40 - Cup and Handle seems to be forming on the ALSI 40, We need to wait for a breakout to the upside. Price >200MA RSI>50 Target 79,178 I prefer banking money when markets go up than down. So this might be the saviour for May with the JSE ALSI! SMC: We have a Sell Side LIquidity area below the new Handle. This is where Smart Money has come and swept through selling (Long traders stop losses) and (Short traders entries). They have bought into these orders, which is pushing the price up. Super bullish signs from the big boys.
JSE:J200Long
by Timonrosso
2
Investec looking strong for upside to R126.66W Formation formed (small but evident). The price has broken above the neckline, showing strong buying and demand. The indicators look good for upside on the peripheral. 7>21 - bullish Price>200MA RSI>50 1st Target R126.66 ABOUT: Investec Limited was founded in 1974 and is headquartered in Johannesburg, South Africa. Investec is a diversified financial services company, offering a range of products and services including asset management, wealth management, and specialist banking. The company operates in three main geographies: South Africa, the United Kingdom, and Australia. Investec has a strong reputation for innovation and has been recognized for its entrepreneurial approach to financial services. In 2020, Investec had a revenue of ZAR 23.3 billion (approximately USD 1.7 billion) and employed over 10,000 people worldwide.
JSE:INLLong
by Timonrosso
TARGET REACHED: Life Health struck our target 1 at R21.34 W Formation formed, we then had some high volatility around the price. Luckily, the stop loss would have been below the pattern. The indicators were all showing bullish signs. 7>21>200 RSI>50 Target struck at R21.34 ABOUT THE COMPANY Life Healthcare Group Holdings Limited was founded in 1983 and is headquartered in Johannesburg, South Africa. Life Healthcare is one of the largest private healthcare providers in South Africa, operating 66 hospitals and healthcare facilities across the country. The company employs over 19,000 people and serves over 4 million patients per year. Life Healthcare provides a wide range of medical services, including acute hospital care, mental health services, renal dialysis, and oncology care. Life Healthcare has a partnership with the South African National Blood Service to support blood donation drives and increase awareness about the importance of blood donation.
JSE:LHCLong
by Timonrosso
Anglo American PLatinum setting for upside potential to R1,644Potential Cup and Handle is forming on the daily. We are seeing higher lows form and the supply side is dwindling. Once we get a break above the brim level, it'll be all systems go. 7>21 Price <200 - Bearish RSI>50 -bullish Target R1,644.61 SMC: Sell Side Liquidity order block has formed below the formation. Each time the price touches, it runs up. That's because Smart Money comes in sweeps the selling from (Shorters) and long traders who gets stopped. They buy into the orders, which push the price up. This gives bullish bias.
JSE:AMSLong
by Timonrosso
TARGET REACHED: Sappi struck through the first price of R40.60Symmetrical Triangle formed on Sappi, the price broke below the apex and the price chose the bias of down. We had other indicators showing bearishness such us. 200>21>7 - Bearish RSI<50- Bearish Target reached at R40.60 The trend is still down and we will need the next formation to form before we decide what to do next. I'll keep you updated. ABOUT Sappi Limited was founded in 1936 and is headquartered in Johannesburg, South Africa. Sappi's name is derived from its original name, South African Pulp and Paper Industries Limited. (Also think of SAP from a tree I guess). The company was founded in South Africa in 1936 as a state-owned enterprise and was later privatized in the 1990s. The name Sappi was adopted in 1997 when the company underwent a rebranding exercise as part of its global expansion strategy. The company is listed on the Johannesburg Stock Exchange (JSE) and the New York Stock Exchange (NYSE) under the ticker symbol "SPP". Sappi is a leading global producer of dissolving wood pulp, paper pulp, and paper-based solutions. The company has operations in North America, Europe, and Southern Africa, with customers in over 150 countries. Sappi produces a range of products, including graphic papers, packaging and speciality papers, and pulp. In 2020, Sappi launched a new product range called Sappi Verve, which is a compostable barrier paper designed for use in food packaging.
JSE:SAPShort
by Timonrosso
UPDATE: Mustek is on its way to R19.09 on trackW Formation formed and broke above. We then had some whipsaws (jumps). The volatility of the markets showed that the stop loss needed to be wide and far from the general movements. This is what keeps you from being shaken out. Then other indicators showed upside to come including. 7>21 (Bullish) Price >200 (Green) RSI>50 (Green) The target remains at R19.09. The momentum is picking up nicely. ABOUT THE COMPANY Mustek Limited was founded in 1987 and is headquartered in Midrand, South Africa. Mustek is a distributor of computer hardware and software, including PCs, laptops, printers, and peripherals. The company operates in the ICT (Information and Communication Technology) sector and has four main business units: Mustek Limited, Rectron, Mecer, and Mustek Security Technologies. Mustek has operations in South Africa, Botswana, Namibia, Mozambique, Zambia, and Zimbabwe. Mustek Limited is the oldest and largest of the company's business units and is focused on the distribution of IT hardware and software products. Rectron, a subsidiary of Mustek, is a distributor of IT products and solutions to the Southern African market. Mustek has a partnership with Lenovo, a global technology company, to distribute Lenovo's products in South Africa.
JSE:MSTLong
by Timonrosso
Daily Bias - JSE ALSI 40 - BULLISHWe ended the week on an awful note with resources dropping over 4%, with gaps down and with sudden breakaway trends. Looking at the bigger picture of the ALSI 40, we still remain with Bullish Bias. 7>21>200 RSI>50 And we seem to be making a Falling Flag, which needs to break up. Also with SMC, it's early days but we have the first level of liquidity (Sell Side Liquidity) where hopefully Smart Money has come swept the sellers with Long traders stopped and Shorters (entered). Them sweeping the Sell Side Liquidity is buying into it pushing the price up. We remain with a buying side bias for the week.
JSE:J200Long
by Timonrosso
What just happened to Richemont? 911%!REMINDER: Compagnie Financière Richemont (CFR) is a Swiss luxury goods company that has a subsidiary in South Africa. The subsidiary's depositary receipts and warrant receipts were previously listed and traded on the Johannesburg Stock Exchange (JSE). However, starting from April 19th, 2023, these financial instruments will be suspended from trading on the JSE and relevant A shares and relevant A warrants will instead be listed on the exchange. Hold your horses! The 912% increase in Compagnie Financière Richemont (CFR) share price likely resulted from the conversion of financial instruments related to the company's South African subsidiary. The company announced a deadline for the conversion of depositary receipts and warrant receipts, which resulted in the suspension of trading on the Johannesburg stock exchange and the listing of relevant shares and warrants on the exchange. This process likely had a positive impact on the company's share price and resulted in the significant increase.
JSE:CFREducation
by Timonrosso
1
Truworths showing downside to R40.21 thanks to Rev Inv C&HReverse Inverse Cup and Handle formed over the last few months. Then there was a Rising Flag formation, which is a consolidation period before further downside. We need the price to break below, to get a stronger sell signal to the downside. MAs = mixed RSI<50 Target R40.21 SMC Buy Side Liquidity (Order Block) formed at the TOP of the handle of the Cup. This is where Long traders Bought at these levels, this is where Short Sellers got stopped (had to rebuy). And Smart money came in and swept the buying and sold into it - which pushed the price down. So I'm quite confident the bias overall is down.
JSE:TRUShort
by Timonrosso
JSE ALMI Take profit hit at 72,600 next trade is imminentInv Head and Shoulders formed on the 15 minute chart. We had an evidential Sell Side Liquidity Order block form around the Right Shoulder. This is where the price broke structure and we entered with our TP1 hitting 72,600. Next we have another setup preparing. We need the price to come back down to the most recent Sell Side Liquidity Order Block. sweep liquidity, turn up and break out of the downtrend . That's where we'll get our next Buy level around 72240. But I'll let you know as always!
JSE:J200Long
by Timonrosso