LD_Perspectives

LD_Perspectives

Inverse Correlation. Rand / Oil at 3 and 1/2 month high. Not good for retailers.

LD_Perspectives

The JSE Top 40 spot index has advanced strongly since developing a bottom in late August. Off the lows of 47618, the index has appreciated by 3527 points or 7.4%. At current levels, the price trades at prior support of 51336 and is nearing the prior breakdown level of 51546 which took place on 30 July. While it is possible that these level could be breached, it...

LD_Perspectives

Intu Properties (Last close: 817c) Buy at 825c or better Stop-loss: 730c Take Profit Target: 990c and 1080c Key Technical Drivers: Triple Bottom Formation; Break above resistance; 2nd biggest volume day in the last twelve months; RSI and Money Flow in bullish trend

LD_Perspectives

Astral Foods (Last close: 16070c) Buy on a close above 16300c Stop-loss: 15650c Take Profit Target: 17800c Key Technical Drivers: RSI and Money Flow breakout

LD_Perspectives

Following a test of the rounding top resistance, the price has retreated to trade back within the channel and is approaching the rising support line between 14.34 and 14.44. This is also in line with the prior breakout level seen in late July as well as just above the 200-day simple moving average. On the upside, resistance is 14.74 and 14.89 while the price is...

LD_Perspectives

Trading Plan: Buy SAP below 4460c (last close was 4533c) Stop-loss: 4170c Take Profit Targets: 5110c and 5300c JSE:SAP

LD_Perspectives

Keep your eye on the Rand. Falling wedge vs US Dollar RSI not confirming lows. *1-HOUR CHART* A breach of resistance would see 14.78 and 14.88 as targets.

LD_Perspectives

Mr Price shares have had a strong rebound from the lows near R151 just under three weeks ago. The rebound, which is now nearing 15%, is losing momentum with the upward trend line support failing to hold. We also have a pending break of the RSI support, which should add further downside conviction in the short term. Based on this, traders could look to short/sell...

LD_Perspectives

Discovery shares have had a strong rebound from the lows near R99 just under one month ago. The rebound, which is now nearing 22%, faces resistance in the form of two downward trend lines which can be seen on the hourly chart and could be used by traders to initiate a short/sell position in anticipation of a pullback. Trading Plan: Short/Sell DSY at 12081c (or...

LD_Perspectives

Ripple (XRP) is attempting to change it's trend. The first sign being the RSI breaking it's downward trend going back to 15 May. Currently at $0.26, it may be worth a look here. BITFINEX:XRPUSD

LD_Perspectives

This morning I am taking a look at the South African Rand versus the US Dollar (USDZAR) from a technical perspective. The resistance at the rounding top formation has coincided with the price retracement on the back of the South African GDP print of +3.1% as well the general risk-on sentiment. The Relative Strength Index (RSI) has gradually proceeded to print 41,...

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- RSI breaching overhead resistance - Money Flow Index clearing ST moving averages and moving up from oversold/weak levels. - Price action over last two sessions have been strong. - Medium to Long term time frame

LD_Perspectives

This morning, investment holding company Remgro Ltd has caught my eye as a short to medium term trading opportunity. At it's last reporting date, the company indicated that it's Intrinsic Net Asset Value Per Share (NAV) stood at R230.23. At yesterday's close of R169.92, this represents a 26% discount to NAV which is also one of the widest in recent years....

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The price has retreated from the top of the trading range which coincides with the 50-day moving average and sees the ETF give up just over 0.80% so far in the session. The price has also attempted to close the "gap" left from 28 August at $289.07. The short term moving averages are neutral and while we have overhead resistance, the price continues to make higher...

LD_Perspectives

This morning at 11:30am, Statistics SA released our Second Quarter GDP figures, showing growth of 3.1% (QoQ) versus forecasts of 2.4% and a previous reading of -3.2%. As a proxy for GDP banking shares set up well for a bullish reversal. This afternoon I am looking at Absa as a short term buying opportunity. Key Technical Drivers: - Developing a double bottom -...

LD_Perspectives

Short term insurance leader losing momentum over the medium term. Caution from an equity portfolio perspective.

LD_Perspectives Updated 

Buy/Long Top 40 at 48064 SL: 47650 TP: 49400

LD_Perspectives

There appears to be no end in sight for the protests in Hong Kong, a major market for luxury goods, specifically timepieces. In addition Macau gaming revenue is down by 8.6% for August which means that gamers are taking less risk. This, combined with a strengthening Rand, has seen Richemont give up some of it's recent gains. Today's the price is breaking down from...