• Equites Property Fund Ltd (EQU) | Finance: Equites Property Fund Ltd. is in the business of management of logistics properties. It operates through South African Industrial, United Kingdom Industrial and United Kingdom Developer.
The share price is currently trading at R12.63. The share price tested the 200 day SMA and as well as the previous high at R12.68 which now acts as the support level. The RSI has just come out of the oversold region, suggesting momentum to the upside is applicable.
A buy/long idea can be initiated once the share price closes above the R12.68 with a take profit (TP) set at R11.97 and the stop loss (SL) set at R13.89.
• 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 is trading at R249.31 below the 200-day SMA, suggesting that the bears are in charge of the trend. The price tested the previous low at R258.40 and also tested the 200-day SMA. The MACD is yet to give a bearish crossunder signal, supporting momentum to the downside
A potential sell/short can be initiated with take profit (TP) set at R223.43 and stop loss (SL) is set at R266.80.
• Growthpoint
Properties Ltd. (GRT) | Finance: Growthpoint Properties Ltd. is in the business of
real estate investment. It
operates Retail, Office, Industrial, healthcare buildings, student
accommodation, trading & development, Total South Africa, Australia, United
Kingdom, V&A Waterfront and Central & Eastern Europe.
The share price is currently trading at R11.64, Friday closing below the 20-day SMA. The price is testing the resistance level at R11.65 which is the previous low. The MACD has signalled a bearish divergence, suggesting the momentum to the upside is slowly fading.
A sell/short can be initiated with a take profit (TP) set at R10.84 and stop loss (SL) set at R12.15.
• Berkshire Hathaway, Inc (BRK.B) | Finance: Berkshire Hathaway, Inc. is a holding company, which is in the provision of property and casualty insurance and reinsurance, utilities & energy, freight rail transportation, finance, manufacturing, and retailing services.
The share price is in an ascending channel, it is yet to test the upper channel line. The share price is trading well above the 200-day SMA and the 20-day SMA has historically been a dynamic support/resistance level, the share on Friday closed above the 20-day SMA.
A buy/long idea can be initiated with a take profit (TP) set at $428.04 and the stop loss (SL) set at $395.68.
• CME Group, Inc (CME) | Finance: CME Group, Inc. operates a
derivatives marketplace, which offers a range of futures and options products
for risk management. Its exchanges offer a range of global benchmark products
across all major asset classes based on interest rates, equity indexes, foreign
exchange (FX), energy, agricultural commodities and metals.
The share price has been in a range and tested the resistance level at $221.26 in October and December 2023, the support level is at $198.46. It recently tested the resistance level once more in the beginning of March and on Friday the price closed below the 20-day SMA. The MACD has signalled a cross under, suggesting momentum to the downside.
A potential sell/short can be initiated with take profit (TP) set at $206.77 and stop loss (SL) is set at $224.58.
• CSX Corp.(CSX) | Transportation: CSX Corp. is in
the business of rail-based freight transportation services. Its services
include rail service, the transport of intermodal containers and trailers,
rail-to-truck transfers and bulk commodity operations.
The share price has made a new all time high at $40.12 in February and the same day it quickly reversed the gains made, creating a shooting star candlestick which signals a potential change in direction. The price has closed below the 20-day SMA and below the major resistance at $37.91, although it is well above the 200-day SMA.
A potential sell/short can be initiated with a take profit (TP) set at $33.94 and stop loss (SL) set at $39.03.
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Any opinions, views, analysis or other information provided in this article is provided by BCS Markets SA trading as BROCKSTOCK as general market commentary and should not be viewed as advice according to the FAIS Act of 2002. BCS Markets SA does not warrant the correctness, accuracy, timeliness, reliability or completeness of any information provided by third parties. You must rely upon your judgement in all aspects of your investment decisions and all decisions are made at your own risk. BCS Markets SA and any of its employees shall not be responsible for and will not accept any liability for any direct or indirect loss including without limitation any loss of profit which may arise directly or indirectly from use of the market commentary. The content contained within the article is subject to change at any time without notice. BCS Markets SA is an authorized financial services provider FSP No. 51404.
