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Jse_top40

Is The Full Correction On Vodacom Complete?Vodacom is a leading African communications company providing a wide range of communication services, including mobile voice, messaging, data, financial and converged services to over 103 million (including Safaricom) customers. From Vodacom's roots in South Africa, they have grown their mobile network business to include operations in Tanzania, the DRC, Mozambique, Lesotho and Kenya. Vodacom's mobile networks cover a population of over 284 million people. Through Vodacom Business Africa (VBA), the group offers business managed services to enterprises in 32 countries. Vodacom is majority owned by Vodafone (64.5% holding), one of the world’s largest communications companies by revenue. Technicals Weekly: The uptrend had to end at some point in time, what a run it was! The current correction has found strong support at the 50% Fib retracement level. I would not be surprised to see this level break and price move to the 61.8% retracement level. Daily: The daily setup tells me that there are two possibilities. Either we have seen the whole correction and the 50% retracement level will hold or the correction will likely be even deeper than the 61.8% retracement level. If this is the case and we see the 78.6% retracement level, that would be a very significant fall in share price for Vodacom! This leads me to believe that it is more likely that we have seen the entire correction already and that we should see a reversal from here.
JSE:VODLong
by Linton_White
SBK Corrective Structure - Effort To BreakStandard Bank Group Ltd. is the ultimate holding company for the group’s interests and is a leading African financial services group with South African roots. The group is South Africa’s largest banking group by assets and currently operates in 20 countries in sub-Saharan Africa. Their strategic position enables them to connect Africa to other selected emerging markets and pools of capital in developed markets. Technicals Weekly: A predominant uptrend on SBK has been evident for a few decades now although there have been a few significant pullbacks. The current structure formation leads me to believe that we are in a large correction at this point in time. I expect some recovery soon and then will be looking for wave 3 of the correction to the downside. I expect this wave to complete on the support of the underlying trend where I will be looking for a reversal to enter the long. Daily: There has been a break of the downward trendline but I am not convinced of the reversal as yet. I will wait for a confirmation structure on a smaller time frame before entering the long for wave 2 on the weekly time frame.
JSE:SBKLong
by Linton_White
JSE:J200 Number of Stocks in Top40 Above Moving AveragesI coded this indicator for the JSE. The indicator gives the percentage of stocks above its moving averages. We see that the JSE has less than 20% of the stocks above its 200 Day SMA and about 50% around its 50 Day SMA. If we look at previous analogs at the start of the trading range there was a declining trend in the 200 SMA but inclining trend in the 50 SMA which lead to some recovery. However, currently the 200 SMA is declining but the 50 SMA is not printing higher highs which seems to indicated continued weakness.
JSE:J200Short
by SteynTrade
Waiting for the pull back to get long on FirstRand.FirstRand Limited is a South African financial services provider which provides services through a portfolio of leading franchises including Rand Merchant Bank (RMB), First National Bank (FNB), Wesbank and Ashburton Investments. With FirstRand shares listed on the Johannesburg Stock Exchange (JSE) and the Namibian Stock Exchange, the group is one of the largest financial institutions in South Africa, offering an all-ecompassing variety of financial services ranging from corporate, investment, retail, personal and commercial banking, to installment finance, insurance and investment management. FirstRand operates in eight other African countries: Botswana, Mozambique, Namibia, Swaziland, Lesotho, Zambia, Tanzania and Nigeria. The group also has offices in India, China, Dubai and London. FirstRand has high levels of surplus capital for investment across the African continent, allowing it to expand its geographic reach and revenue streams, to the benefit of those who buy the shares. Technical I am expecting to see a reversal at some point soon for the completion of wave 3 to the downside. I am however not interested in the short at this stage and will wait for the low at the end of wave 1 to break before I will be looking for an entry to the upside.
JSE:FSRLong
by Linton_White
MONDI LTD JSE We have an ending diagonal forming right about the demand zone. This signals the exhaustion of the sellers, signaling there is an upcoming massive buyers momentum in a few days as this is a Daily Chart. We also have a divergence on the RSI around the current market zone, so I am expecting it to drop a little on smaller timeframes then shoot up. My safe entry zone will be at 31961, holding that up towards the TP at 37342 with a stop loss at 29796. It is important to wait for the pattern to completely form so you can be sure and certain of the next move of the market and minimize risk.
MLong
by TheGreatestMarketAnalyst
Cup-and-handle pattern on ShopriteShoprite hasn't had the best year. In March it created a high of R281.90 and then proceeded to crash all the way to R174.50. Interestingly enough however, Shoprite has created a cup-and-handle pattern over the past two months. This is a common bullish pattern and indicates a change in trend. If you look at the chart above, you can see how Shoprite formed the "cup" part of the pattern during September and October. This was followed by a slight correction in November which created the "handle". There is also a clear bullish divergence on the MACD. For this reason I will be going long. Action: Place a Limit order to BUY at R205 with a Stop Loss set at R190. I will aim to take profit at R220 and R230 respectively. Margin: 10% Gearing: 10.00x Gain: +121.95% Risk: -73.17%
JSE:SHPLong
by UnknownUnicorn3689126
1
With Current Market Volatility, Where is Sasol Headed?Sasol is an international integrated chemicals and energy company that leverages technologies and expertise of over 30 000 people working in 33 countries. Sasol develops and commercialises technologies as well as build and operate world-scale facilities to produce a range of high-value product streams, including liquid fuels, chemicals and low-carbon electricity. Weekly: Coming off a perfect 78.6% Fib retracement level, I expect to see more downside ultimately breaking the lows at 35,000. I have a target level of 30,000 to 29,000 where I will be looking for signs of a reversal. The long entry from there should be a great trade! Daily: The daily structure will complete in either 3 or 5 waves and I expect it to reach the targets as indicated above. There may be one or two interim pullbacks which will form this structure but as things stand now, I will only be looking to trade the shorts until we break the lows around the 35,000 mark.
JSE:SOLShort
by Linton_White
ANGLO IS TRADING AT A KEY LEVEL - EXPECTING UPSIDEAngloGold Ashanti is an internationaly acclaimed gold mining company with a geographically diverse and world-class portfolio of operations and projects. Headquartered in Johannesburg, South Africa, AngloGold Ashanti is the third largest gold mining company in the world, measured by production. The company was established in 1998 when the gold and uranium interests of Anglo American Corporation of South Africa were consolidated. The group has 17 gold mines in 9 countries, has several exploration programs in established and new gold producing regions and is listed on 5 stock exchanges, including its primary listing on the Johannesburg Stock Exchange (JSE). Operating regions include South Africa, Guinea, Mali, Ghana, the DRC and Tanzania, as well as South America and Australasia. Weekly: We can see an impulse on the left of the chart and then a 3 wave corrective structure which broke to the upside. While there may be an interim pull back in price, I have a final target of 45000 - 47000 on the second impulse on the weekly time frame. Daily: Price is trading very close to the bottom of the daily structure. This is an important level as price could go either way from here. Should the structure break to the downside, a smaller confirmation structure will confirm the downside. Should there be a reversal, I am confident that wave 5 to the upside will complete at the weekly impulse target.
JSE:AGL
by Linton_White
Richemont Has More Downside to Come After Brief ReliefRichemont is one of the world’s leading luxury goods groups. The Group’s luxury goods interests encompass some of the most prestigious names in the industry, including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, and Montblanc. The history of growth in group sales was driven by a number of factors including geographic spread, the mix of sales by product type and by distribution channel. Sales growth has also been derived from the acquisition of new businesses which combine unique design with traditional skills. Operating expenses increased by 14% for the Johannesburg Stock Exchange (JSE) listed company during the year amid adverse exchange rate effects, this had an obvious effect on Richemont’ s share price, compared to the 13% increase in purchases through Richemont’ s own boutiques. Shares recently fell 6.4 percent after it said sales growth slowed and management struck a cautious note. The sales numbers were hurt by moves to combat the grey market and efforts by the Chinese government to discourage consumers from spending overseas. For the financial year ended 31 March 2018, Richemont reported sales of EUR 10 979 million, operating profit of EUR 1 844 million and profit for the year of EUR 1 221 million. Let's look at the technicals. Weekly: I am looking for a price move back down to the previous low and a bit beyond before looking to trade the reversal. The low could reach as far as 70 and perhaps even 65. From that point I will be looking for signs of a reversal. Daily: I am expecting a rally at some point soon. This will form a correction for further downside. I will look to trade the next wave to the downside when I see confirmation.
JSE:CFR
by Linton_White