Consumer Goods
Anheuser-Busch InBev SA/NV (ANH): Anheuser-Busch InBev is a holding company that manufactures and distributes alcoholic and non-alcoholic beverages.
The share price has made a bullish breakout from a falling wedge trading pattern, a classic reversal signal. As confluence, the relative strength indicator (RSI) has crossed out of oversold territory, suggesting that bullish momentum is applicable.
A potential Buy/Long idea can be initiated, with the target set at R1145.70 and the stop loss set at R986.40.
Health Care
Life Healthcare Group Holdings Ltd (LHC): Life Healthcare is an investment company that operates hospitals through its subsidiaries. It operates in Southern Africa and internationally.
The share price has created a gap down, leaving it at R11.25 and closing below the lower bound of the Bollinger Band. A similar setup occurred in April 2024, when the price gapped to R10.80 from R17.08 before eventually closing the gap. As confluence, the RSI is currently in oversold territory, signalling that bulls may be poised to take charge and attempt a recovery.
A potential Buy/Long idea can be initiated, with the target set at R13.46 and the stop loss set at R10.33.
Financials
Absa Group Ltd (ABG): Absa Group Ltd. offers financial services. It operates through product solutions, everyday banking, corporate and investment banking, and Barclays Separation.
The share price has tested both the key support level and the 200-day simple moving average (SMA) simultaneously, reinforcing the strength of this zone. This setup suggests potential for further upward movement. As confluence, the moving average convergence divergence (MACD) is poised for a bullish crossover, supporting the case for a move higher.
A potential Buy/Long idea can be initiated, with the target set at R195.13 and the stop loss set at R175.65.
Energy
YPF SA (YPF): YPF is in the exploration, production and distribution of oil and gas.
The stock price has been testing the lower bound of the Bollinger Bands but failed to close below it for two consecutive sessions. Friday’s candlestick formed a hammer, signalling strong buying pressure from the bulls. However, the moving average convergence divergence (MACD) is yet to confirm a bullish crossover, leaving upward momentum unconfirmed.
A potential Buy/Long idea can be initiated, with the target set at $32.70 and the stop loss set at $23.09.
Communication Services
AST Spacemobile Inc (ASTS): AST Spacemobile is in the business of building a broadband cellular network in space to operate directly with standard, unmodified mobile devices based on an extensive IP and patent portfolio.
The stock price has closed above the 50-day SMA while remaining above the 200-day simple moving average (SMA), reinforcing the bullish outlook. As confluence, the MACD has made a bullish crossover, signalling that upward momentum is in play.
A potential Buy/Long idea can be initiated, with the target set at $68.27 and the stop loss set at $39.40.
Health Care
Universal Health Services Inc (UHS): Universal Health is in the business of providing hospital and healthcare services.
The stock price has made a bullish breakout, signalling a potential change in direction. Adding to this, the 50-day SMA is poised to cross above the 200-day SMA in a golden cross formation, which would confirm the long-term bullish case.
A potential Buy/Long idea can be initiated, with the target set at $223.22 and the stop loss set at $179.72.
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
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