SOUTH AFRICA index buy on the bottom of the channel strategy buy and hold
this index goes into my emerging market portfolio including:
Russia
Poland
India
Indonesia
Mexico
Russia
South Africa
Brasil
Southafricastocks
AFRICAN RAINBOW CAP INV. Possible long opportunity coming.AIL offers disruptive banking solutions in South Africa.
With such a strong monthly downtrend, we will need some sideways consolidation in this range, in order for us to change the trend and ultimately move higher.
Given the current economic climate in emerging markets, this is one that I am putting on my watchlist.
If we were to see further consolidation at these level, while still holding support as seen on the chart. 220-225 range. We would then look for some expansion to the upside. that being said, a push in the fintech sector might break through some resitance levels, in which case we will look to get involved on a pullback.
** this would be a longer term play and one that needs some more time to play out. I will update as we progress.
JSE Top40Not quite a trade I would take, but for JSE Investors I think the market will probably drop 17%.
Not financial advice
Buy opportunity on South African stocks.The market is approaching the 48,940 Support. 1M is supported there (RSI = 52.867, MACD = 574.500, Highs/Lows = 0.0000) and the current dip is a solid medium term buy opportunity. Assuming that a roughly -2% Lower High sequence will be maintained we place the next medium term target at 52,200.
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Flash note: Massmart (MSM)"On Wednesday the share tested and rebounded off the prior swing lows between 102 and 103.50. This appears to be a range-trading opportunity, with the upside target being the prior highs of 119. " Lester Davids, Trading Desk analyst, Unum Capital.
Keep an eye on USDZAR as this will continue to impact South African retailers.
