JSE & NYSE Shares Analysis | 24 - 28 March
JSE SHARES
Basic Materials
Northam Platinum Holdings Ltd. (NPH): Northam Platinum mines platinum and other minerals like palladium and rhodium.
A potential golden cross is imminent, with the 50-day simple moving average (SMA) on track to cross above the 200-day SMA, signalling a possible shift to a bullish trend. As confluence, a double bottom breakout pattern has formed, with the neckline around the R130 region, reinforcing the potential for upward momentum.
A potential Buy/Long idea can be initiated, with the target set at R153.31 and the stop loss set at R120.16.
Consumer Services
Pepkor Holdings Ltd. (PPH): Pepkor Holdings Ltd. is in the retail stores business. It operates through clothing and general merchandise, furniture, appliances and electronics, building materials, and fintech.
A falling wedge breakout has occurred, with the price trading above the 200-day SMA, signalling a potential bullish trend. A close above the 50-day SMA would further confirm trend continuation. Additionally, the relative strength indicator (RSI) is trending upward, reinforcing bullish momentum.
A potential Buy/Long idea can be initiated, with the target set at R29.05 and the stop loss set at R24.82.
Basic Materials
Exxaro Resources Ltd. (EXX): Exxaro Resources Ltd. is in the mineral exploration business. It operates through coal, energy, ferrous metals, TiO2, and alkali chemicals.
The share price recently tested the support level of its consolidation range at R150, with resistance at R175. As confluence, the moving average convergence divergence (MACD) has made a bullish crossover, signalling potential upward momentum and a possible rebound within the range.
A potential Buy/Long idea can be initiated, with the target set at R166.90 and the stop loss set at R145.58.
US STOCKS
Consumer Discretionary
Lululemon Athletica, Inc. (LULU): Lululemon designs, distributes, and retails technical athletic apparel, footwear, and accessories.
The share price tested the 200-day simple moving average (SMA) and closed above it, indicating a potential shift in trend. This follows a test of the lower Bollinger Band (BB), suggesting the price may have found support. Additionally, the relative strength indicator (RSI) has exited the oversold region, signalling building upward momentum.
A potential Buy/Long idea can be initiated, with the target set at $377.59 and the stop loss set at $290.05.
Health Care
Becton, Dickinson & Co. (BDX): Becton, Dickinson is a global medical technology company in the development, manufacturing, and sale of medical supplies, devices, laboratory equipment, and diagnostic products.
A triple bottom pattern breakout has been confirmed, with troughs forming around the $222 region and a neckline at $231.87, signalling a potential trend reversal. As confluence, a close above the 200-day SMA would further confirm bullish control and indicate trend continuation to the upside.
A potential Buy/Long idea can be initiated, with the target set at $245.59 and the stop loss set at $223.65.
Health Care
AbbVie, Inc. (ABBV): AbbVie, Inc. is a research biopharmaceutical company in the development and sale of pharmaceutical products. It focuses on treating conditions like chronic autoimmune diseases in rheumatology, gastroenterology, dermatology, and oncology, including blood cancers, virology, hepatitis C virus (HCV), human immunodeficiency virus (HIV) and neurological disorders.
The share price has tested the trendline at the $217 region, while the RSI entered overbought territory, and has now crossed back below it, suggesting that bullish momentum is fading and potential downward movement may follow.
A speculative Sell/Short idea can be initiated with the target set at $190.82 and stop loss set at $220.80.
Disclaimer:
*Any opinions, views, analysis or other information provided in this article is provided by BCS Markets SA trading as BROKSTOCK 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.
** This article was prepared by BROKSTOCK analyst Maboko Seabi
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