JSE & NYSE Shares Analysis 23 - 27 March

JSE SHARES

Consumer Goods

Astral Foods Ltd (ARL): Astral Foods is in the manufacturing of animal feeds, broiler genetics, and the production and sale of day-old chicks and hatching eggs.

The share price is testing the lower boundary of a consolidation range around R250, with resistance established near R280. This suggests the market is still range-bound for now. However, the relative strength index (RSI) has crossed above oversold territory, indicating that selling pressure is easing and upward momentum may be starting to build from support.

A potential Buy/Long idea can be initiated once the price closes above R250, with the target set at R274.71 and stop loss at R237.22.  

Telecommunications

Vodacom Group Ltd (VOD): Vodacom is in the business of communications products and services.

The share price is currently testing the support zone around R144, which aligns with the 200-day simple moving average (SMA). A sustained close above R145 would signal a continuation of the upward trend. Adding to the bullish case, the moving average convergence divergence (MACD) is poised for a bullish crossover, indicating that upward momentum may be building.

A potential Buy/Long idea can be initiated once the price closes above R145, with the target set at R164.25 and stop loss at R134.72. 

Basic Materials

Sasol Ltd (SOL): Sasol is a chemical and energy company that sources, produces, and markets chemical and energy products.

The price had been trading above the upper Bollinger Band (BB), but has since moved back below it, forming a bearish engulfing candlestick, a clear sign that sellers have stepped in. In addition, the RSI is turning lower and approaching a move below overbought territory, suggesting that downward momentum may be starting to build.

A speculative Sell/Short idea can be initiated, with the target set at R152.63 and stop loss at R236.28. 

US STOCKS

Consumer Discretionary

Carnival Corp (CCL): Carnival is in the operation of cruise ships.

The price has been consolidating within a range, with support around $25, which was recently tested and resistance near $33. The relative strength index (RSI) has crossed above oversold territory, indicating that selling pressure is easing and upward momentum may be starting to build from support. Meanwhile, after a sharp downside expansion, the BB may begin to contract, suggesting a potential pause in volatility before the next directional move.

A potential Buy/Long idea can be initiated, with the target set at $31.72 and the stop loss set at $21.81.

Consumer Discretionary

BorgWarner Inc (BWA): BorgWarner provides technology solutions for combustion, hybrid and electric vehicles.

The price closing above the 50-day simple moving average (SMA) while remaining well above the 200-day SMA reflects a classic trend continuation setup, reinforcing the strength of the broader uptrend. Additionally, the moving average convergence divergence (MACD) is poised for a bullish crossover, suggesting that upward momentum may soon strengthen.

A potential Buy/Long idea can be initiated, with the target set at $66.81 and the stop loss at $47.85.

Health Care

Insmed Inc (INSM): Insmed is a global biopharmaceutical company that develops and commercialises therapies for patients with rare diseases.

The price is currently trading within a falling wedge pattern, with confirmation expected on a decisive close above $151, which would also align with a break above the 200-day SMA. This confluence strengthens the bullish case. In addition, the MACD has completed a bullish crossover, signalling that upward momentum is already beginning to build.

A potential Buy/Long idea can be initiated once the price closes above $150, with the target set at $187.58 and the stop loss set at $131.12.

Disclaimer:
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** This article was prepared by BROKSTOCK analyst Maboko Seabi