HomeMarket OverviewJSE & NYSE Shares Analysis | 27-31 May

JSE & NYSE Shares Analysis | 27-31 May

28-05-2024
JSE & NYSE Shares Analysis | 27-31 May

JSE SHARES

Bid Corporation Ltd (BID) | Consumer Services: Bid Corp. Ltd. is in the business of offering comprehensive foodservice solutions. It operates in Australasia, the United Kingdom, Europe and Emerging Markets.

The share price has been in an ascending channel, currently testing the lower bound of the channel and a double bottom is occurring at the R418.00 region. The RSI has made a bullish divergence, signalling momentum to the downside is fading, supporting upwards momentum. The price is trading below the 200-day SMA, price needs to close above the SMA. 

A potential buy/long idea can be initiated once price closes above R429.95 with a take profit (TP) set at R473.80 and the stop loss (SL) set at R401.51.

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Gold Fields Ltd (GFI) | Mining:
Gold Fields Ltd. is a gold mining company, which is in the production of gold and operation of mines. Its operating mines are located in Australia, Ghana, Peru, and South Africa.

The share price has been on an upward trajectory, and has made a record high before retracing to test the support level at R284.78. The MACD is poised for a potential crossover, suggesting momentum to the upside. The share is trading above the 200-day SMA, suggesting that the trend is still bullish.

A potential long/buy idea can be initiated with a take profit (TP) set at R348.09 and stop loss (SL) set at R270.48.

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British American Tobacco Plc (BTI) | Consumer Non-Durables: British American Tobacco plc is a holding company, which IS in the manufacture and distribution of tobacco products. Its brands include Kent, Dunhill, Lucky Strike and Pall Mall. It operates in the United States, Asia-Pacific and Middle East, Americas, Sub-Saharan Africa, Europe and North Africa (ENA).

The share price has been in a descending channel, the price recently broke upward of the channel and tested the 200-day SMA. The MACD is yet to confirm the bearish crossover, suggesting momentum to the downside. 

A speculative sell/short idea can be initiated at R532.60 with a take profit (TP) set at R340.72 and stop loss (SL) set at R576.93.

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US STOCKS

Advanced Micro Devices, Inc. (AMD) | Electronic Technology: Advanced Micro Devices, Inc. is in the business of semiconductors. It operates in Data Center, Client, Gaming, and Embedded.

The price has closed above the 50-day SMA, it historically surged after closing above the SMA. The price is trading above the 200-day SMA, suggesting momentum to the upside. The MACD has made a bullish crossover, momentum to the upside applicable.    

A potential buy/long idea can be initiated with a take profit (TP) set at $194.28 and the stop loss (SL) set at $152.17.

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Xcel Energy, Inc (XEL) | Utilities:
Xcel Energy, Inc. is an electric and natural gas delivery company. It operates through: Regulated electric and regulated natural gas utility.

Since October 2022 the share price has been trading below the 200-day SMA, suggesting it is in a bear trend. The price has closed below the 50-day SMA, it has historically shown signs of further downward push in price. The MACD has made a crossunder, suggesting momentum to the downside is applicable. 

A risky short/sell idea can be initiated with a take profit (TP) set at $49.70 and stop loss (SL) set at $55.66.

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Oracle Corp (ORCL) | Electronic Technology:
Oracle Corp. is in the business of products and services that address aspects of corporate information technology environments, including applications and infrastructure technologies. It operates through cloud & licence, Hardware and Services.

The share has recently tested its highest resistance level at $126.00 region. The MACD is yet to make a crossunder, to support momentum to the downside.

A speculative sell/short idea can be initiated with a take profit (TP) set at $114.43 and stop loss (SL) set at $126.96.

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