JSE & NYSE Shares Analysis | 15-19 April
JSE SHARES
• Kumba Iron Ore Ltd (KIO) | Mining: Kumba Iron Ore is in the business of extraction, production, and sale of iron ore.
The share price has been in an ascending channel, it has recently tested the lower bound of the channel at R430 region, the price has since bounced off the levels heading higher again. The MACD has crossed over for bullish momentum
A buy/long idea can be initiated with a take profit (TP) set at R555.41 and the stop loss (SL) set at R445.46.
• Aspen
Pharmacare Holdings Ltd (APN) | Health Technology: Aspen Pharmacare manufactures and supplies branded and generic pharmaceutical products. It operates through Commercial Pharmaceuticals and
Manufacturing.
A buy/long idea was released in the last week of February, and it has breached take profit. The share price has tested the upper bound at regions of R220. RSI has reached the oversold territory, suggesting that momentum might cool off to the downside.
A speculative sell/short can be initiated with a take profit (TP) set at R209.03 and stop loss (SL) set at R225.94.
• Standard Bank Group Ltd (SBK) | Finance: Standard Bank Group is a holding company, which is in the business
of providing integrated financial and related solutions to clients.
The share price has respected the trend line since the low of May 2020, The price has been making higher highs and lower highs using the trend line as a support level. The price is currently trading below the trend line. The MACD is yet to signal a bullish crossover.
A buy/long can be initiated once the price closes above the trend line and a MACD crossover signal has taken place, a take profit (TP) set at R196.88 and stop loss (SL) set at R168.04.
US STOCKS
• Philip Morris International, Inc (PM) | Consumer non-durables: Philip Morris International, Inc. is a holding company, which is in the business of delivering a smoke free future and evolving a portfolio for the long term to include products outside of the tobacco and nicotine sector.
The share price is currently trading at $88.85, testing the major support level at $89.05. The share has tested the support level twice before and bounced back up to reach highs of $95.00. The MACD has been signalling a bullish divergence with each testing of the support level, signalling a change in momentum to the upside.
A buy/long idea can be initiated once the share closes above the support level at $89.05 with a take profit (TP) set at $93.02 and the stop loss (SL) set at $87.28.
• NIKE,
Inc (NKE) | Consumer non-durables : NIKE is in the business of design, development, marketing and
sales of athletic footwear, apparel, accessories, equipment, and services.
The share price has tested the support level at $88.92 in the beginning of April, with the current price trading at $92.00. The RSI bullish divergence developing across the support level also suggests that momentum to the downside is fading and a long uptrend might develop from this level.
A buy/long can be initiated with a take profit (TP) set at $100.85 and stop loss (SL) set at $86.27.
• Procter
& Gamble Co (PG) | Consumer non-durables: Procter & Gamble Co. is in the business of branded
consumer packaged goods. It operates through beauty, grooming, health care,
fabric and home care, and Baby, Famine and Family Care.
Since December 2022 the share price has been steadily heading higher in an ascending channel. The price tested the upper bound of the channel and started descending, it has closed below the 50-day SMA, which has historically showcased continued movement in the direction.
A speculative sell/short can be initiated with a take profit (TP) set at $148.16 and stop loss (SL) set at $159.92.
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