JSE & NYSE Shares Analysis | 23-27 September
JSE SHARES
Technology
Naspers Ltd. (NPN): Naspers Ltd. operates as an Internet and media group. It is in the business of Ecommerce, Media, Corporate Social and Internet Platforms.
The share price is trading above the 200-day simple moving average (SMA), suggesting that the trend is bullish. The price tested the support level at R3544.90 and it managed to close Friday above the 50-day SMA, signalling a trend continuation. The moving average convergence divergence (MACD) has signalled a bullish crossover, suggesting momentum to the upside.
A potential Buy/Long idea can be initiated with a take profit (TP) set at R4021.12 and the stop loss (SL) set at R3508.81.
Consumer Services
Woolworths Holdings Ltd. (WHL): Woolworths Holdings Ltd. is an investment company, which is in the provision of retail and financial services. It operates in Woolworths fashion, beauty, and home, Woolworths food; Woolworths financial services, Woolworths logistics, David Jones and Country road group.
The share price has been trading in an ascending channel, on Friday it tested the upper bound at R68.30. It’s worth noting that the price is trading above the 200-day simple moving average, suggesting a bullish trend.
A speculative Buy/Long can be initiated with the take profit (TP) set at R and the stop loss (SL) set at $7.33.
Financials
Quilter Plc (QLT): Quilter Plc is in the business of wealth management services, savings, and financial advice. It operates through the High Net Worth and Affluent customers.
The share price is trading above the 200-day simple moving average (SMA), suggesting that the trend is bullish.However, the price is trading below the 50-day SMA, a close above the 50-day SMA will signal trend continuation. The moving average convergence divergence (MACD) is yet to confirm a bullish crossover, suggesting momentum to the upside.
A potential Buy/Long idea can be initiated once the price closes above R31.50 with the TP set at R35.48 and the SL at R29.50.
US STOCKS
Industrials
Deere & Co. (DE): Deere & Co. is in the manufacturing and distribution of equipment used in agriculture, construction, forestry and turf care.
The share price broke out of a falling wedge pattern at $403.60. The 50-day simple moving average is pointing up towards the 200-day SMA, when it does cross, signalling a golden cross, the price will be in a bullish trend.
A speculative Buy/Long can be initiated with the take profit (TP) set at $439.96 and the stop loss (SL) set at $393.90.
Information Technology
Amphenol Corp. (APH): Amphenol Corp. is in the design, manufacture and marketing of electrical, electronic, fibre optic connectors, interconnect systems, antennas, sensors and sensor based products.
The share price is trading above the 200-day simple moving average (SMA), suggesting that the trend is bullish. The price is trading above the 50-day SMA, signalling a trend continuation. The moving average convergence divergence (MACD) has signalled a bullish crossover, suggesting momentum to the upside.
A speculative Buy/Long can be initiated with the TP set at $71.32 and the SL set at $63.07.
Real Estate
American Tower Corp. (AMT): American Tower Corp. provides real estate investment services, owns, operates and develops multi tenant real estate properties. It offers leasing of space on communications sites to wireless service providers, radio and television broadcast companies.
The share price is trading in an ascending channel, it has recently tested the upper bound of the channel at $235 and $239. The moving average convergence divergence (MACD) has signalled a bearish divergence, suggesting that the momentum to the upside is fading and favouring downward momentum.
A speculative Sell/Short can be initiated with the TP set at $212.32 and the SL at $248.97.
Disclaimer:
Any opinions, views, analysis or other information provided in this article is provided by BCS Markets SA trading as BROCKSTOCK as general market commentary and should not be viewed as advice according to the FAIS Act of 2002. BCS Markets 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. BCS Markets 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 use of the market commentary. The content contained within the article is subject to change at any time without notice. BCS Markets SA is an authorised financial services provider FSP No. 51404.
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