SchalkLouw

SchalkLouw Updated 

Platinum mines still dominating the top 5 overbought list. C has also clearly become the new A+ on the JSE, with two of the greatest success/growth stories, namely Capitec and Clicks, still powering ahead. Cartrack has now joined the “Lekkerrrrrr by die C” party. Oversold: Prosus 28 Cashbuild 31 Accelerate Property 34 BATS 34 Emira Property 34 Overbought: ...

SchalkLouw Updated 

After a few years which Tiger Brands would surely like to forget, it seems like the both the company results and share price, have found quite a strong support. Fundamentally the company is sound, with both PE’s and Price/Books trading at 5-year lows. After recent results, it seems like the growth (ROE) in the company has also made a turn for the better (above 8%...

SchalkLouw Updated 

Welcome back MediClinic! After some pressure years, you’re back into “overbought” after a solid trading update this week. Top 5 Oversold & Overbought currently according to their 14-day RSI’s: Oversold: Hospitality Property B 27 Fortress REIT B 30 Cashbuild 31 Libstar Hlds 34 NEPI Rockcastle 35 Overbought: Northam Platinum 83 MediClinic Intl...

SchalkLouw Updated 

Stable trading update, helping Woolies back to an exciting resistance level. Actual Trading Update: Woolworths says 53-week sales growth 5.1% in constant currency Woolworths says 53-week total group sales growth 5.9% Woolworths says Australia trading conditions remain challenging (Source: Bloomberg) A break and close above the R50.80 levels could see WHL...

SchalkLouw

Another solid week’s performance coming from the South African Rand and although I would like to think that it was all because of the strong inflation (CPI) beat this week (4.1% vs 4.3% in August) or even Eskom’s R59bn bailout announcement, the fact of the matter is, the general trend for Emerging Markets, was positive this week. #BRICS currency/USD movements...

SchalkLouw Updated 

Although the South African Rand started off the week under pressure with the IMF firstly downgraded SA’s GDP growth forecast to 1.1% for 2020 (from previous 1.5%). This was followed by Eskom again announcing load shedding in South Africa. What is ironic is the fact that the IMF in the above-mentioned report contributed the better second quarter growth to a more...

SchalkLouw Updated 

The South African Rand, making its intentions loud and clear this week! By far the strongest BRICS. This was mainly driver by the announcement yesterday that the US and China has come to “a partial deal”. #BRICS currency/USD movements for this week: Brazil -1.2% Russia +0.7% India -0.1% China +0.8% South Africa +1.6% Euro/USD +0.6% Technically, the...

SchalkLouw

Brent Oil wiped out all recent gains and find itself at dangerous technical levels. With it dropping another 3% today, Brent finds itself at the bottom of a bullish trend line, which started in the beginning of 2016. A break and close below $57 would definitely have me re-evaluate any long positions, if I was a short-term trader. My first target would them be $55,...

SchalkLouw Updated 

Nothing aggravated a Bull Market more than seeing some Red! And today the bulls are seeing some proper red on the $SPX. Nice little Ascending Triangle developing in S&P500, with all eyes on the 2900 mark. A break & close below would definitely have me worried if I was long, which I'm not. #Caution

SchalkLouw

This week, the most noticeable thing to point out is the fact that 4 out of the top 5 most “overbought” companies are all Platinum mines. With the recent pullback in the Platinum price (in USD) and somewhat stronger Rand, I will caution any long positions in all four these mines over the shorter term. Oversold: Prosus 28 Ascendis Health 29 Richemont 30 Rhodes...

SchalkLouw

Much better week for the South African Rand, in an environment where BRICS currencies was a bit of a mix bag. #BRICS currency/USD movements for this week: Brazil +2.6% Russia 0.0% India -0.4% China -0.4% South Africa +0.7% Euro/USD +0.3% Technically, the USDZAR find itself back at the R15/USD level, which psychologically, will be good over the shorter...

SchalkLouw

Another week of USD strength, saw another week of BRICS currency weaknesses (with exception of India). Even the Euro lost close to 1% of its value. To top it all, Trump administration officials ended off the week yesterday with an announcement that they are discussing ways to limit US investors' portfolio flows into China. I, therefore, can't see next week...

SchalkLouw

Oversold: Gemgro Properties 13 Eoh Holdings 24 Ascendis Health 28 PPC 30 Accelerate Property Fund 34 Overbought: Trencor 78 Quilter PLC 76 Reinet 75 Stor-Age Property 73 Capital & Countries Properties 73

SchalkLouw

We got so use to the Rand being on steroids lately, that I must admit that this weakness does hurt somewhat. Not even an unchanged rate announcement from the SARB could help the Rand, telling me that deep down, a few currency traders were hoping for a cut. As mentioned last week, the ZAR was somewhat overbought (oversold according to USDZAR), which could also...

SchalkLouw

Oversold: Delta Property 24 Pan African Resources 27 Gold Fields 30 PSG Konsult 32 Telkom SA 32 Overbought: Trencor 84 Wilson Bayly Holmes-Ovcon - WBHO 83 Pioneer Food 82 Capitec Bank 78 Investec PLC 78 Spending some time on Goldfields. How quickly a share can go from hero to zero. A month ago, GFI was still trading at the top of the “OVERBOUGHT” list,...

SchalkLouw

Another GREAT week for the South African Rand, outperforming most emerging market currencies (against USD), making this now the third week in a row of positive returns. #BRICS currency/USD movements for this week: Brazil -0.5% Russia +2.2% India +0.9% China +0.5% South Africa +1.6% Euro/USD +0.4% Technically, the ZAR enjoyed a great week, reaching...

SchalkLouw

Oversold: City Lodge Hotels 16 Long4Life 24 PSG Konsult 25 Delta Property 28 Accelerate Property 29 Overbought: Pioneer Foods 77 Wilson Bayly Holmes Ovcon (WBHO) 73 Impala Platinum 71 Murray & Roberts 70 Pepkor Holdings 70 Spending some time on WBHO. With AECI, this must be one of my favorite SA Inc/Value stocks on the JSE. A company trading below a 10 FPE...

SchalkLouw

Another GREAT week for the South African Rand, outperforming most emerging market currencies (against USD), after better than expected GDP results on Wednesday: SA GDP Growth Rate YoY : 0.9% (Expected: 0.8%) SA GDP Growth Rate QoQ : 3.1% (Expected: 2.4%) #BRICS currency/USD movements for this week: Brazil +2.0% Russia +1.5% India -0.3% China +0.6%...