JSE & NYSE Shares Analysis | 19-23 February
JSE SHARES
• Mondi Plc (MNP) | Process Industries: Mondi Plc is a holding company which is in the business of manufacturing and distribution of packaging and paper products. It operates through the following packaging: corrugated packaging, flexible packaging and uncoated fine paper.
The share price is currently trading at R326.99, above the 200-day SMA signalling bulls are still in charge. The SMA has historically been a dynamic support/resistance level, the share has tested the moving average. The MACD is signalling a bullish crossover, the momentum to the upside is applicable.
A Buy/Long idea can be initiated with a stop loss set at R308.53 and the target set at R354.37.
• Impala Platinum Holdings Ltd. (IMP) | Mining: Impala platinum holdings Ltd. is in the business of mining, refining
and marketing of platinum group metals (PGMs). It operates in South Africa and
Zimbabwe.
The share price has reached a major support level at region of R65.50. The MACD has made a bullish crossover, given also the fading momentum to support the downside.
A potential Buy/Long can be initiated with target set at R83.65 and stop loss is set at R57.54.
• Exxaro Resources Ltd. (EXX) | Mining: Exxaro Resources Ltd. is in the business of mineral exploration. It
operates through Coal, Energy, Ferrous, TiO2 and Alkali Chemicals.
The share price is currently trading at R182.98. The price has tested the support level at regions of R178.50 and also the 200-day SMA. As confluence for confirmation of direction, the MACD has signalled a bullish crossover.
This presents an opportunity to Long/Buy with a target set at R172.49 and stop loss set at R198.99.
US STOCKS
• Skyworks Solutions, Inc (SWKS) | Electronic Technologies: Skyworks Solutions, Inc. is in the design, development, and manufacture of proprietary semiconductor products. Its products include amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, isolators, lighting and display solutions, mixers, modulators, optocouplers, opt isolators, phase shifters, synthesisers, power dividers and combiners, receivers, switches, and technical ceramics.
Late February 2024 we saw a golden cross occurring. The share price is currently trading at $103.75 which is above the 200-day SMA and below the 50-day SMA,the price has tested the longer term SMA. The MACD has made a bullish crossover, supporting momentum to the upside.
A Buy/Long idea can be initiated with a target set at $112.52 and the stop loss set at $97.79.
• NVIDIA Corp.(NVDA) | Technologies: NVIDIA Corp. is in
the design and manufacturing of computer graphics processors, chipsets, and
related multimedia software. It operates through the graphics processing unit
(GPU) and Tegra processor. The GPU consists of product brands, including
GeForce for gamers, Quadro for designers, Tesla and DGX for AI data scientists
and big data researchers, and cloud-based visual computing users. The Tegra
Processor integrates an entire computer onto a single chip and incorporates
GPUs and multi-core CPUs to drive supercomputing for autonomous robots, drones,
and cars, as well as for consoles and mobile gaming and entertainment devices.
The share price is currently trading at $726.13 which has been making fresh higher highs for the past six weeks. The business is reporting earnings on Wednesday the 19th of February. Investors/traders should take note of the RSI, the momentum has been in extended overbought territory. The share has historically been testing the 50-day SMA as support.
• Occidental Petroleum Corp (OXY) | Oil & Gas: Occidental Petroleum Corp. is in the business of exploration and production of oil and natural gas. The share price is between the upper range of $67.58 and the lower range is at $55.49 The current price is trading at $60.52 which is above the 50-day SMA and has proven to continue to the upper bound of the range. The MACD has made a bullish crossover, signalling momentum to the upside. A Long/Buy position can be initiated with target set at $56.40 and stop loss set at $66.67.
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