JSE & NYSE Shares Analysis | 22-26 April
JSE SHARES
• Anglo American Platinum Ltd (AMS) | Mining: Anglo American Platinum Ltd. is a holding company, which engages in the supply of platinum group metals. The company specialises in mine, recycled, and traded metal which include palladium, platinum, rhodium, ruthenium, iridium and osmium.
The share price is currently trading at R780.32. The price is trading in an ascending channel,it has tested the lower bound of the channel and is making its way up, with the price trading above the 200-day SMA, signalling the bulls are in charge of trend.
A buy/long idea can be initiated with a take profit (TP) set at R911.75 and the stop loss (SL) set at R714.39.
• Fortress Real Estate Investments Ltd (FFB) | Finance: Fortress Real Estate Investments
Ltd. is in the business of development of logistic warehousing, retail centres
and strategic offshore investments.
The share price is currently trading at R14.16, after testing the trend line and 200-day SMA on Friday. The RSI is in oversold territory, suggesting that momentum to the downside might be fading.
A buy/long can be initiated with a take profit (TP) set at R15.09 and stop loss (SL) set at R13.55.
• BHP Group Ltd.(BHG) | Mining: BHP Group Ltd. is in the business of
exploration, development, production and processing of iron ore, metallurgical
coal, and copper.
We initiated an idea in the first week of February and it breached stop loss. Since December 2022,the share price has tested the support level at $518.41and has historically made its way upward. The price is trading above the 50-day SMA and has continued to move upwards from the support level.
A buy/long can be initiated with a take profit (TP) set at R608.80 and stop loss (SL) set at R524.00.
US STOCKS
• Duke Energy Corp (DUK) | Utilities: Duke Energy Corp. is in the business of distribution of natural gas and energy related services. It operates through electric utilities and infrastructure, gas utilities and Infrastructure.
The share price is currently trading at $98.24, above the 200-day SMA, signalling that the bulls are in charge of the trend.. The price is trading in an ascending channel and has tested the lower bound.
A buy/long idea can be initiated with a take profit (TP) set at $104.05 and the stop loss (SL) set at $94.24.
• U.S. Bancorp(USB) | Finance: US Bancorp operates as a bank holding company,
which offers financial services including lending and depository services, cash
management, foreign exchange and trust and investment management. The firm also
offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card
services, merchant, bank, checking and savings accounts, debit cards, online
and mobile banking, ATM processing, mortgage banking, insurance, brokerage and
leasing services.
The share price has been steadily making higher highs and lower highs. The price is currently testing the support level at $40.16, and closed above it on Friday at $40.45. The share is also trading above the 200-day SMA, signalling that the bulls are in charge of the trend.
A buy/long can be initiated with a take profit (TP) set at $44.27 and stop loss (SL) set at $38.03.
• DexCom Inc (DXCM) | Health Technology: DexCom, Inc. is a medical device company,
which is in the business of design, development, and commercialization of
glucose monitoring systems for ambulatory use by people with diabetes.
The share price is in an ascending channel, it has recently tested the upper bound of the channel. The MACD has signalled a bearish divergence, suggesting the momentum to the upside is fading. The 50-day SMA has historically confirmed the direction of the price once price closes below the moving average.
A sell/short can be initiated with a take profit (TP) set at $109.96 and stop loss (SL) set at $139.69.
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