Standard Bank, area of value or weakness?It's hard to say that JSE:SBK is at an area of value. Financials are weak, it'll take a decent amount of buying to keep the stock above this "support" level.
Trendtraderjse
Sasol, weakJSE:SOL has been trading below a key MA since early July, it showed characteristics of a Stage 3 setup. A selloff was seen on the ex divi date, and some market participants were comfortable to assume that the selloff was due to ex divi, fair enough. The dividend has been paid now, JSE:SOL is now below a minor support level, it it continues with the downward movement, it may test R290/share
Capitec, weak.Following last week's selloff, JSE:CPI is now trading below what looked like a support level. On the weekly time frame we still have few days too trade, the stock might still redeem itself. Otherwise the next potential support level is near R1700/share.
Hosken bullish setup?JSE:HCI printed (the market isn't closed yet) a bigger candle, the body cover's last week's body, and there's a decent amount of volume. Price is trading above key MAs, the MAs are facing up. It could be something.
Woolworths move up?JSE:WHL might be interesting above R65/share, based on the monthly chart. The stock has had a great run following the release of the recent results.
Santova Potential BreakoutJSE:SNV weekly chart is printing a potential breakout. Note that the volume is low at the moment, and consider the liquidity of the stock.
Astral 52 week highJSE:ARL printed a 52 week high but the stock is at or coming to an area of value. I have a long position and waiting to see what happens at this level. I would like to see the stock move above R220/share, where I'll add onto the current position.
Kumba below the support levelWe recently shared a chart of JSE:KIO , then KIO was at the support level. JSE:KIO is currently below the support level, and there's above average selling volume. The stock might go lower.
Sygnia 4IR JSE:SYG4IR is struggling to break above the resistance level. The ETF itself can be shorted, but I prefer to short the underlying companies; more liquid than the ETF.
Glencore JSE:GLN may be pulling back to the R80 area of value. For holders, it'll. be good if it can find support there. Otherwise it could be the beginning of its declining phase, that will be bad for holders.
Invested LTD: Death CrossJSE:INL has had a great run, all the banks actually. The fast MA is now below the slow MA, not something you want to see in a stock you own. We're bearish on JSE:INL , this look like a Stage 4 breakdown, a Stage we avoid by all means!
Kumba JSE:KIO is at an area of value. The level provided support in Nov '21, will history repeat itself? One can always hope that the support will help, until it doesn't. Dividend came in for investors yesterday (EasyEquities platform).
No position.
Master Drilling Interim ReportJSE:MDI came out with positive figures; 34% revenue growth, 57% EPS increase, and 19% cash increase from continuing operations. No interim dividend as per company's dividend policy.
Technically, the stock is on an uptrend, at an area of value. Potential buy area, R14.50/share.
MTN, not looking goodJSE:MTN weekly close will be interesting. The stock has been on a downtrend for a while now. It opened the week, weak, and a close below R130/share can see it test R122, or worse, R108. Tread carefully.
MSM gap up on Walmart offerNYSE:WMT , through its subsidiary, has made a R62/share offer to buyout JSE:MSM shareholders. Great for current shareholders, the offer represents a 62% premium!
Historically, share prices rarely move beyond the offer price, unless the offer price is revised a higher price is offered. If you missed this train, askies. Not expecting the share price to drop, but it's risky to buy at this level, especially if there's no meat left on the bone.
SUI improving fundamentalsJSE:SUI interim results show improving fundamentals. The Group revenue grew by 37% and basic EPS up > 100% (94 cents), and the company declared a gross interim dividend of 88 cents.
Technically, the stock has been finding support in a rising MA, but kept short of breaking above R32/share. Hopefully these results will help push the price to a new 52 week high, which will be a buy signal.
Aspen upcoming earningsJSE:APN mini rally following a positive trading statement quickly fizzled. Aspen JSE:APN reporters that EPS will be between 32% - 37%. Audited results are coming this week, the numbers are expected to remain the same. The share is trading below key levels, the stock will need great numbers to push the price up, a promising setup is the price trading above R160/share. Otherwise, the downtrend in the stock will continue, especially if the price drops to R136/share.
MTN at an area of valueJSE:MTN is back at an area of value. The stock attempted to rally following the proposed JSE:TKG takeover, both stocks enjoyed a mini-rally. The rally ran out of steam last week, and now JSE:MTN is back at the support level. A catalyst is needed here to push the stock up, otherwise a potential breakdown may play out. No position.
Gold Fields Weakness JSE:GFI currently trading below that week's closing price, R148-ish. The stock may test the R128/share area.
Sygnia 4IR Following -38% decline (Nov '21-Jun '22), JSE:SYG4IR is starting to show signs of life. It's trading near an area of value, and it has crossed a key MA.
Have a test position.
Nasdaq at an area of valueNASDAQ:IXIC is at an area of interest, near a potential resistance level but also trading above a key MA. Friday close will be interesting, a solid close above this MA might bring a bull run. Failure to push up will bring us back to the boring "correction" environment. I'm rooting for the upside.
ENPH NASDAQ:ENPH has had a great run, breaking above the resistance level with a decent volume. Most US solar stocks have done well this week. It's probably a good thing for NASDAQ:ENPH
