JSE & NYSE Shares Analysis | 15-19 July
JSE SHARES
British American Tobacco plc (BTI) | Consumer Non-Durable: British American Tobacco plc is a holding company, which IS in the manufacture and distribution of tobacco products. Its brands include Kent, Dunhill, Lucky Strike and Pall Mall. It operates in the United States, Asia-Pacific and Middle East, Americas, Sub-Saharan Africa, Europe and North Africa (ENA).
In Mid May 2024, the share price broke above the long descending channel from May 2022. The Gold Cross has occurred, the 50-day Simple Moving Average (SMA) has crossed above the 200-day Simple Moving Average (SMA), signalling a change in trend.
A potential buy/long idea can be initiated with a take profit (TP) set at R611.61 and the stop loss (SL) set at R565.39.
JSE Ltd (JSE) | Finance: JSE Ltd. operates as a self-regulatory,
multi-asset class stock exchange. The firm offers liquidity of tradable
products, as well as post-trade, technology, and information services. It also
provides primary market, secondary market and post-trade services.
The share price is trading in a descending channel, having tested the upper bound of the channel at the R109.00 region, the share retraced. The Relative Strength Indicator has crossed under the overbought territory, suggesting momentum to the downside is applicable.
A potential buy/long idea can be initiated with a take profit (TP) set at R60.66 and the stop loss (SL) set at R48.80.
A speculative sell/short idea can be initiated with a take profit (TP) set at R93.97 and the stop loss (SL) set at R109.76.
Bidvest Group Ltd (BVT) | Retail Trade: The Bidvest Group Ltd. functions as
an investment holding company with its subsidiaries operating in the services,
trading and distribution industries. It operates through automotive, commercial
products, financial services, freight, branded products and properties.
The share price has tested the record high of August 2023 (Resistance Level) at R297.00 and it started showing signs of weakens. The Moving Average Convergence Divergence (MACD) has confirmed a bearish cross under, suggesting momentum to the downside is applicable. The share has been trading in a range, the next level the price might stop is R234.31 (Support Level).
A speculative sell/short idea can be initiated with a take profit (TP) set at R251.09 and the stop loss (SL) set at R293.90.
US STOCKS
Starbucks Corp (SBUX) | Consumer Services: Starbucks Corp. is in the business of production, marketing, and retailing of specialty coffee.
The share price tested a major support the previous Thursday, also creating a double bottom pattern, signalling a reversal is imminent. The Relative strength Indicator (RSI) has made a bullish divergence, suggesting the momentum to the downside is fading and favouring upward momentum
A Buy/Long idea can be initiated with a target set at $84.25 and the stop loss set at $70.35.
Illinois Tool Works, Inc (ITW) | Producer Manufacturing: Illinois Tool Works, Inc. is in the
business of manufacturing industrial products and equipment.
The share price is trading in an ascending channel,the price tested the lower bound of the channel. The price is trading above the 50-day Simple Moving Average (SMA), which historically has signalled price continuation in the direction of the underlying trend.The Relative Strength Indicator (RSI) has bullish divergence, suggesting momentum to the downside is fading and favouring upward momentum.
A Buy/Long idea can be initiated with a target set at $264.53 and the stop loss set at $236.83.
ResMed, Inc.(RMD) | Health Technology: ResMed, Inc. is in the business of providing
digital health and cloud-connected medical devices. Its digital health
technologies and cloud connected medical devices transform care for people with
sleep apnea, chronic obstructive pulmonary disease and other chronic diseases.
The share price is trading in an ascending channel, the price tested the lower bound of the channel. The price is trading above the 200-day Simple Moving Average (SMA), signalling a bullish trend. The Moving Average Convergence and Divergence (MACD) has confirmed a bullish crossover, suggesting momentum to the upside is applicable.
A Buy/Long idea can be initiated with a target set at $226.53 and the stop loss set at $193.94.
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