JSE & NYSE Shares Analysis 2 - 6 November 2026

JSE SHARES

Industrials

BVT — Bidvest Group Ltd.

Diversified South African services, trading, and distribution group.

Speculative SHORT · Entry: daily close below R235.75 (200 SMA) · Stop R247.90 · Target R216.89 · Reward/Risk ratio 1:1.6

The setup: Bidvest rallied from the October low to the upper line of its descending channel, was rejected there, and is now testing the 200-day SMA at R235.75. A daily close below that average confirms the rejection and points price back toward the lower half of the channel. The MACD has rolled over from its peak, which shows the October rally losing momentum. The entry is conditional on that close.

Basic Materials

NPH — Northam Platinum Holdings Ltd.

South African producer of platinum group metals.

Potential LONG · Entry: daily close above R232.32 · Stop R211.41 · Target R312.35 · Reward/Risk ratio 1:3.8

The setup: Northam has fallen from the top of its ascending channel (near R331) back to the lower trendline, the same support that held in July. The latest candle also tagged the lower Bollinger Band and reversed from this zone. The MACD is curving up from negative levels, an early sign that selling momentum is fading.

Financials

OUT — OUTsurance Group Ltd.

South African insurer with short-term, life and banking operations, plus Youi in Australia.

Speculative SHORT · Entry: daily close below R87.94 · Stop R92.35 · Target R79.13 · Reward/Risk ratio 1:2.0

The setup: OUTsurance has returned to the R90.02 resistance level that stopped the rally in late August, and was rejected again at the upper Bollinger Band. The RSI made a lower high (about 70 against 75 in August) while price matched the earlier high, a bearish divergence that shows buying pressure is weakening. The latest daily candle is bearish. A close below R87.94 confirms a potential rejection.

US STOCKS

Industrials

DAL — Delta Air Lines, Inc.

Major US passenger airline.

Potential LONG · Entry: $83.35 (breakout, current price) · Stop $75.84 · Target $98.65 · Reward/Risk ratio 1:2.0

The setup: Delta has broken above the upper trendline of a falling wedge, a pattern that usually resolves higher, and is trading above the 50 SMA (about $80.50). The 200 SMA (about $76.80) sits below as support, and the October wedge low held close to it. The MACD is above its signal line and rising toward zero. The target is the measured move of the wedge, and the stop sits below the 200 SMA.

Industrials

STN — Stantec Inc.

Global design and engineering consultancy.

Potential LONG · Entry: daily close above $77.86 (neckline at $77.52) · Stop $70.27 · Target $89.74 · Reward/Risk ratio 1:1.6

The setup: Stantec has built a double bottom, with lows in late July and early October and a neckline at $77.52. Price jumped 5.5% on Monday, pushing through the upper Bollinger Band toward that neckline. The MACD shows a bullish divergence: it made a higher low in October than in June while price held at or below its earlier lows, and it is now above zero with an expanding histogram. The trade is speculative until the neckline breaks on a daily close.

Financials

UPBD — Upbound Group, Inc.

Rent-to-own and lease-to-own company, operating Rent-A-Center and Acima.

Speculative SHORT · Entry: daily close back below $22.67 · Stop $24.20 · Target $17.94 · Reward/Risk ratio 1:3.1

The setup: Upbound jumped 10% on Monday to $22.84, into the $22.81 resistance level that capped the stock in February, July, and now. The RSI is above 80, well above the 70 to 73 readings at earlier tests, and price is stretched outside the upper Bollinger Band. This is a counter-trend trade against a strong one-day move, so it is speculative; the wider stop allows for volatility.

Disclaimer:
*Any opinions, views, analysis, or other information provided in this article is provided by BROKSTOCK SA trading as BROKSTOCK as general market commentary and should not be viewed as advice according to the FAIS Act of 2002. BROKSTOCK 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. BROKSTOCK 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 the use of the market commentary. The content contained within the article is subject to change at any time without notice. BROKSTOCK SA is an authorised financial services provider - FSP No. 51404. T&Cs and Disclaimers are applicable: https://brokstock.co.za/
** This article was prepared by BROKSTOCK analyst Maboko Seabi