HomeMarket OverviewJSE & NYSE Shares Analysis | 2-5 April

JSE & NYSE Shares Analysis | 2-5 April

02-04-2024
JSE & NYSE Shares Analysis | 2-5 April

JSE SHARES

• Anheuser-Busch InBev SA/NV (ANH) | Consumer Non-Durables: AB InBev operates as a holding company, which is in the manufacturing and distribution of alcoholic and non-alcoholic beverages. It operates in  North America, Americas, South America, Asia Pacific and global exports.

The share price is currently trading at R1157.76. The share has been making higher highs and lower highs. The MACD has made a bullish crossover. The share is trading above the 200 SMA, suggesting the bulls are in charge. 

A buy/long idea can be initiated with a take profit (TP) set at R1216.04 and the stop loss (SL) set at R1121.43.

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• ADvTECH Ltd (ADH) | Commercial Services: ADvTECH Ltd. is in the business of education, training, skills development, and career placement services. It operates through schools, tertiary and resourcing.

The share price is currently trading at R28.41. The share is in an ascending channel, having tested the top of the channel. The price has made a false breakout above the channel. The RSI has been in a bearish divergence as the share price soars,suggesting momentum to the upside is fading.

A sell/short can be initiated with a take profit (TP) set at R25.34 and stop loss (SL) set at R30.10.

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• Nedbank Group Ltd (NED) | Finance: Nedbank Group Ltd. is one of the leading financial services providers in South Africa. It offers banking, insurance and asset management. It has operations in seven African countries.

The share price has been in a range since February 2022, the high of the range is in the region of R237.00 and the low of the range is in the region of R195.00. The price is currently trading at R228.67 from the top of the range. The MACD has a bearish crossunder.

A sell/short can be initiated with a take profit (TP) set at R215.41 and stop loss (SL) set at R236.67.

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US STOCKS

• ANSYS, Inc (ANSS) | Technology Services: ANSYS, Inc. is in the business of development and marketing of engineering simulation software and services. The firm's solutions include industries such as automotive, aerospace, defence, construction, energy, materials and chemical processing..

The share price has been in an ascending channel, it is yet to test the upper channel line. The 50-day SMA is above the 200-day SMA and the share price is trading above both the moving averages, suggesting that the bulls are in charge of the trend. 

A buy/long idea can be initiated with a take profit (TP) set at $363.83 and the stop loss (SL) set at $337.44.

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• Salesforce, Inc (CRM) | Technology Services: Salesforce, Inc. is in the business of design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

The share price is currently trading at $302.26. The share price has tested the major resistance level at $309.96 and has since traded below. The RSI was in oversold territory when it tested the resistance level.

A sell/short can be initiated with a take profit (TP) set at $319.36 and stop loss (SL) set at $276.72.

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• Alphabet Inc (GOOG) | Technology Services: Alphabet, Inc. is a holding company, which is in the business of software, health care, transportation, and other technologies. It operates through Google Service and Google Cloud.

The share price has made a record high of $155.74 after making a 3.02% move on Monday. The RSI is in overbought territory, suggesting momentum could slow down. The share could make a retracement back to the $153.00 level before making its way up.

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