JSE & NYSE Shares Analysis | 21 - 25 April
JSE SHARES
Telecommunications
MTN Group Ltd. (MTN): The MTN Group offers voice, data, fintech, digital, enterprise, wholesale, and application programming interface services. It operates in South Africa, Nigeria, Southern and East Africa, West and Central Africa, the Middle East, and North Africa.
The share price remains in a bullish trend, trading above the 200-day simple moving average (SMA) and reflecting sustained upward sentiment. However, it is yet to break above the 50-day SMA at R115.50, a level that may confirm trend continuation if breached. Additionally, the MACD is poised for a bullish crossover, reinforcing the potential for renewed upward momentum.
A potential Buy/Long idea can be initiated once the price closes above the 50-day SMA, with the target set at R139.68 and the stop loss set at R99.39.
Basic Materials
Gold Fields Ltd. (GFI): Gold Fields Ltd. is a gold mining company with operating mines in Australia, Ghana, Peru, and South Africa.
The share price has reached an all-time high of R498.28, testing the upper band of the Bollinger Bands (BB), which may indicate a short-term retracement toward the middle band. As confluence, the relative strength index (RSI) is in overbought territory, signalling potential downward momentum before the uptrend resumes.
A speculative Sell/Short idea can be initiated with the target set at R420.16 and the stop loss set at R499.76.
Basic Materials
Mondi Plc (MNP): Mondi Plc is a holding company that manufactures and distributes corrugated and flexible packaging, and uncoated fine paper.
The share price recently tested a key support level around R266 – a level that has historically triggered upward moves since 2016. This retest presents another potential bullish opportunity, supported by a moving average convergence divergence (MACD) bullish crossover and indicating growing upward momentum.
A potential Buy/Long idea can be initiated with the target set at R307.17 and the stop loss set at R263.13.
US STOCKS
Materials
The Mosaic Co. (MOS): The Mosaic produces and markets concentrated phosphate and potash crop nutrients.
A double bottom trading pattern is unfolding with troughs around $22.50. They each formed while the relative strength index (RSI) was in oversold territory, suggesting potential exhaustion of selling pressure. The price is yet to confirm a breakout above the neckline at $28.50, which would validate the reversal pattern. As confluence, the share has closed above the 200-day simple moving average (SMA), signalling that bullish sentiment is strengthening and the trend may shift to the upside.
A potential Buy/Long idea can be initiated once the price closes above $28.54, with the target set at $122.75 and the stop loss set at $65.14.
Communication Services
Roblox Corp. (RBLX): Roblox offers online gaming services. Its platform consists of Roblox Client, Roblox Studio, and Roblox Cloud. Roblox Client is an application that allows users to explore 3D digital worlds.
A falling wedge trading pattern is nearing a potential bullish breakout. As confluence, the price recently tested the 200-day SMA, a key dynamic support/resistance level, and has now closed above the 50-day SMA. This suggests that bullish momentum is building, supporting the likelihood of trend continuation to the upside.
A potential Buy/Long idea can be initiated with the target set at $70.98 and the stop loss set at $55.28.
Information Technology
NVIDIA Corp. (NVDA): 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, cars, consoles, and mobile gaming and entertainment devices.
The price has been trading within a descending channel since reaching its all-time high of $153.13, forming consistent lower highs and lower lows. A death cross (DC), where the 50-day SMA crosses below the 200-day SMA, has occurred, signalling that bearish momentum may dominate. The last death cross appeared in April 2022.
Investors should remain cautious, as geopolitical tensions may heighten market volatility and reinforce downside risk.
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