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South Africa 40 Index

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SA40 trade ideas

JSE TOP 40 Longer Term ViewThe monthly chart certainly points to a longer term outlook, but in my view, a serious look at the bigger picture now is absolutely vital. The JSE TOP 40 (#ALSI) has roughly doubled in value over the past 12 - 15 months or so and will, as I see it, now face an uphill battle to continue in that way. Apart from the fact that it seems that the price chart sits on the top line of an enormous megaphone, also called the Jaws of Death, a lot of technical indicators, of which two are shown here, support my view. The MACD has lost momentum quite seriously and might not be far away of taking a turn down. Also supporting this is that we are seeing a third shorter histogram already. On the Stochastic indicator the %K line has also already penetrated the %D line to the downside. To add insult to injury from these two indicators both of them are sporting a bearish divergence with the price line as well. Even if price action to the upside in the immediate future makes it seem that there is nothing to be concerned about, I am of the conviction that the TOP 40 could be in for a rough and sustained ride to the downside, eventually reaching targets few people might at this stage see as a possibility.
JSE:J200Short
by dawievdwest
MONEY OR THE BOX?- JSE Top40, take your pickThere's two ways to play this. MONEY: If you are long Top40 now would be the time to take the money and run. Wait for better levels to get back in. (You heard it here first) THE BOX: Short the TOP40 CFD or even the ALSI for at least a test of the bottom of the consolidation box. The move is largely driven by pressure on Naspers and our resources stocks but a re-test of the bottom of the highlighted area would earn you over 1500 points on the index.
JSE:J200Short
by RobbyP
JSE:J200 Effort Without ResponseThe Top40 has been on the rise since the covid lows, however, we can now see some cracks and we could be in for a correction back to 53000 for the rest of the year. My reasoning is as follows: - The buying climax (BC) of the latest trading range could not make it back to the overbought line showing a lack of interest. - Divergence on the RSI leading into the BC shows the interest to push higher is gone. - The effort (increase in volume) with each attempt to push higher could not make higher highs. Based on this it looks like that a break of the trendline could open the path for a drop back to 53000
JSE:J200Short
by SteynTrade
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