JSE & NYSE Shares Analysis | 22 - 26 July
JSE SHARES
MultiChoice Group Ltd. (MCG) | Consumer Services: MultiChoice Group Ltd. is in the business of video entertainment platforms.
The share price is trading in an ascending channel. The price is trading above the 200-day Simple Moving Average (SMA), signaling a bull trend. The Moving Average Divergence Convergence (MACD) has made a bullish crossover, suggesting the momentum to the upside is applicable.
A potential buy/long idea can be initiated with a take profit (TP) set at R123.23 and the stop loss (SL) set at R99.54.
Omnia Holdings Ltd. (OMN) | Process Industries: Omnia Holdings Ltd. is in the manufacturing and distribution of fertilisers and chemicals. It operates through Agriculture RSA, Mining and Chemicals.
The share price broke above the ascending channel and it came back to retest the upper bound of the channel. There is a golden cross (GC) occurring, the 50-day Simple Moving Average (SMA) is crossing above the 200-day Simple Moving Average (SMA), signalling change in the trend direction to bullish.
A potential buy/long idea can be initiated with a take profit (TP) set at R73.25 and the stop loss (SL) set at R64.45.
Prosus N.V. (PRX) | Technology Services: Prosus N.V. operates as an Internet and media group. It operates through ecommerce, social and internet platforms and media. The ecommerce refers to internet platforms to provide various services and products. The social and internet platforms hold listed investments in social and internet platforms through Tencent and Mail.ru.
The share price is trading in an ascending channel, and it is yet to test the upper bound of the channel. The price is trading above the 200-day Simple Moving Average (SMA), signalling a bull trend. The Moving Average Divergence Convergence (MACD) has made a bullish crossover, suggesting the momentum to the upside is applicable.
US STOCKS
Valero Energy Corp. (VLO) | Energy Minerals: Valero Energy Corp. is in the manufacture and marketing of transportation fuels and other petrochemical products.
The share price tested the 200-day Simple Moving Average (SMA), which has historically acted as a dynamic support level. The Moving Average Convergence and Divergence (MACD) has confirmed a bullish crossover, suggesting momentum to the upside is applicable.
A Buy/Long idea can be initiated with a target set at $165.22 and the stop loss set at $141.87.
Delta Air Lines, Inc. (DAL) | Transportation Services: Delta Air Lines, Inc. is in the business of scheduled air transportation for passengers and cargo.
The share price tested the 200-day Simple Moving Average (SMA), which has historically acted as a dynamic support level. The Relative Strength Indicator (RSI) has crossed over the oversold territory, suggesting momentum to the upside is applicable.
A Buy/Long idea can be initiated with a target set at $50.99 and the stop loss set at $42.57.
Stryker Corp. (SYK) | Healthcare: Stryker Corp. is a medical technology company, which is in the provision of products and services that help improve patient and healthcare outcomes.
The share price has crossed above the 50-day Simple Moving Average (SMA), signalling a trend continuation. The price is trading above the 200-day Simple Moving Average (SMA), signalling the bulls are in charge of the trend.
A Buy/Long idea can be initiated with a target set at $363.98 and the stop loss set at $325.45.
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