trend change in AFEAfter trading sideways for a while the trend on AECI seems to be turning bullish,could wait for a deeper pullback before entering or start building a small position from now...Either way manage risk,
AFE trade ideas
Top5 oversold/overbought according to RSI & AECIFTSE/JSE All Share Top5 oversold/overbought according to 14day RSI indicator as follow:
Oversold:
Tongaat 12
Tsogo Sun 17
Netcare 22
Omnia 26
AECI 31
Overbought:
EoH 74
Allied Electronics 73
Famous Brands 69
Nampak 67
Lonmin 67
Spending some time on AECI . This could be one of my favorite SA Inc/Value stocks on the JSE. A company trading below a 10 HPE and a dividend yield of close to 6%...what’s not to like? After the recent retracement, AECI traded at its diagonal support trend line for a brief moment on Friday. This is a trend that developed since the beginning of this year. The share price does find itself now in extreme oversold according to its 14 day RSI & and heavily underperformed the FTSE/JSE All Allshare Index.
Should we see a break and close below the support line (R85), we could see AECI testing the longer-term support at R81.
On the upside, the first target is both the 50- and 200-day moving averages at R94.25, with a breakthrough those resistance levels, finding resistance most probably at R97.15. Short term target remains R106.
Fundamentally the company is healthy (read our report here: oldoak.co.za ). Thomson Reuters currently got a consensus target price of R127.65 on the company.
AFE- Waiting for breakout AFE - A solid close on good volume above R100.50 will give a long signal
R:R - 1 : 1.5
$JSEAFE AECI. Breakout from consolidation channelBreakout from a monthly consolidation channel. Looks like we are headed for 10500 again. LDT 27 Aug, Divi pay 2 Sep.
$JSEAFE could join mining play with big BANGAECI currently one I’m watching very closely. Share price little bit under pressure lately, which currently look good for an entry point. AECI is a South African-based explosives and chemical specialty company. The company is engaged in offering a range of products and services to customers in the mining, manufacturing and agricultural industries. Could be something to look at, with the recent uptick in the mining sector.
Price retracted since its results announcement end of February. The 50-day moving average is however making a lovely little smile, telling us that the trend is still nice and healthy. It is also getting mighty close to the 200-day – so the possibility for a Golden Cross will be monitored.
Fundamentally the company is healthy (read our report here: oldoak.co.za ) . Thomson Reuters currently got a consensus target price of R130.29 on the company and with a dividend yield of 5.3% and FPE of 7, the company is clearly in value territory.
Should $JSEAFE break a close above the 200-day moving average (R97.50), next resistance levels should be found at R105.94. A break and close through these levels could see us test last year’s highs of R120/121.
Should the price turn downward, support could be found at the 50-day moving average R94.94, with a break through these levels only seeing support around the R81 levels.
$JSEAFE AECI Larger inverted head and shoulders in the makingA smaller inverted head and shoulders with a first target of 10500 (reached) has now made way for a larger head and shoulders with a target closer to 12000. Neckline break 10500 will confirm.
$JSEAFE AECI First target reachedInverted head and shoulders breakout and retest. I think this share is poised to go higher. Looks like good value on paper as well.
$JSEAFE AECI Brilliant results and a pattern to support itAECI delivered a brilliant set of results yesterday. An inverted head and shoulders formed and if the neckline 9500 goes, 10500,10800 would be the likely next targets
