Top5 oversold/overbought according to RSI & AECI
FTSE/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: http://oldoak.co.za/wp/index.php/2019/03/01/get-to-know-your-jse-companies-aeci-ltd-jse-afe/). Thomson Reuters currently got a consensus target price of R127.65 on the company.
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: http://oldoak.co.za/wp/index.php/2019/03/01/get-to-know-your-jse-companies-aeci-ltd-jse-afe/). Thomson Reuters currently got a consensus target price of R127.65 on the company.
Trade active
Break and close above R100 - next target R106Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.