JSE & NYSE Shares Analysis 26 - 30 October 2026

JSE SHARES

HAR — Harmony Gold Mining Co. Ltd.

Gold mining company with operations in South Africa and Papua New Guinea.

Potential LONG · Entry: R274.20, on a confirmed daily close above the wedge resistance · Stop R246.80 · Target R347.16 · Reward/Risk ratio 2.7:1

The setup: Price has spent two months inside a falling wedge and is pressing against the upper trendline after a bounce off the lower Bollinger Band. The MACD has stopped falling and is curling up from deep negative territory, which points to fading selling pressure. The MACD is still below the zero line and price has not yet closed above the wedge, so this is a speculative entry that needs the breakout close first. A move through the Bollinger midline around R277 would add confirmation.

INL — Investec plc

International specialist bank and wealth manager operating in South Africa and the UK.

Potential LONG · Entry: R135.15, current price · Stop R127.15 · Target R148.05 · Reward/Risk ratio 1.6:1

The setup: Price has broken above the upper trendline of a falling wedge and closed above the Bollinger midline. The MACD has crossed up and has been building for several sessions, with the MACD line curving higher from below zero. Price is now at the upper Bollinger Band, so a short pause or retest of the wedge line is potentially likely before the move extends. The stop sits below the last swing low and the lower wedge boundary.

SOL — Sasol Limited

Integrated energy and chemicals company producing fuels and chemicals from coal and gas.

Speculative SHORT · Entry: R290.13, current price · Stop R315.98 · Target R225.05 · Reward/Risk ratio 2.5:1

The setup: Price rallied higher into the upper boundary of a long-running ascending channel and was rejected, closing down 3.5% with a long upper wick. The RSI peaked above 80, in overbought territory, and has turned lower; the last time it did this, in April, price fell back for several weeks. Price also pushed outside the upper Bollinger Band before reversing. The target is the lower channel boundary, a large move, so the trade relies on the channel holding. The stop is above the rejection high and the channel line.

US STOCKS

DOW — Dow Inc.

US materials science company producing plastics, chemicals, and coatings.

Potential LONG · Entry: $34.05, current price · Stop $30.96 · Target $39.90 · Reward/Risk ratio 1.9:1

The setup: A double bottom has formed on the daily chart, and price has broken above the neckline at $33.36 and the 200 SMA in one strong candle, up 4.2% for the day. The MACD shows bullish divergence between the two lows and has since crossed up and moved above the zero line. The target is the measured move, the depth of the pattern projected up from the neckline. A close back below the neckline would weaken the setup.

OII — Oceaneering International, Inc.

Provider of engineered services and robotic systems to offshore energy, defence and aerospace markets.

Potential LONG · Entry: $40.29, on a close above the 200 SMA · Stop $32.83 · Target $55.30 · Reward/Risk ratio 2.0:1

The setup: Price gapped down through the lower Bollinger Band and the 200 SMA on 22 October, and the RSI fell to around 23, the oversold region. Since then, price has recovered back inside the band and is testing the 200 SMA from below, with the RSI turning up toward 40. The entry depends on a confirmed close above the 200 SMA, so this is a potential reversal trade. The stop sits below the capitulation low.

SK HYNIX — SK Hynix Inc.

South Korean semiconductor maker and a leading producer of DRAM and high-bandwidth memory chips.

Potential LONG · Entry: $143.16, current price · Stop $121.68 · Target $188.05 · Reward/Risk ratio 2.1:1

The setup: After a sharp pullback from the $195 resistance level, price dipped below the $134 support level and was bought straight back, which points to a failed breakdown. The RSI dropped to about 27, oversold, and has turned up toward 40. Price closed up 4.1% back above support. The target sits just under the $195 resistance. The stop is placed below the August low to give the trade room.

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** This article was prepared by BROKSTOCK analyst Maboko Seabi