Basic Materials
AECI Ltd. (AFE): AECI Ltd. manufactures and distributes chemical raw materials and offers related services. It works through mining solutions, water and processing, plant and animal health, food and beverage, chemicals, and property.
The share price is testing a support level at R96.33 and has tested the lower band of the Bollinger Bands (BB). This could potentially signal a mean reversion, assuming the price will revert back to the mean, which is the 20-day simple moving average (SMA). The moving average convergence divergence (MACD) is yet to confirm a bullish crossover, suggesting momentum to the upside is applicable.
A potential Buy/Long idea can be initiated with the take profit (TP) set at R105.56 and the stop loss (SL) set at R93.51.
Consumer Goods
Astral Foods Ltd. (ARL): Astral Foods Ltd. produces and sells animal feed, broiler genetics, day-old chicks, and hatching eggs. It also focuses on breeder, broiler production, and further processing operations and distributes various key poultry brands.
The share price tested the resistance-level-turned-support-level at R170.84. As confluence, the price is trading above the 200-day SMA, signalling the bulls are still in charge of the trend. The MACD is yet to confirm a bullish crossover, suggesting momentum to the upside is applicable.
A potential Buy/Long can be initiated with the TP set at R185.90 and the SL set at R165.25.
Health Care
Aspen Pharmacare Holdings Ltd. (APN): Aspen Pharmacare Holdings Ltd. manufactures and supplies branded and generic pharmaceutical products. It operates through commercial pharmaceuticals and manufacturing.
The share price has broken below the lower band of the Bollinger Bands (BB), suggesting a trend continuation to the downside. However, the relative strength indicator (RSI) has signalled a bullish divergence, suggesting momentum to the downside is fading. This remains a risky idea.
A potential Buy/Long can be initiated with the TP set at R211.03 and the SL set at R171.70.
Real Estate
Essex Property Trust, Inc. (ESS): Essex Property Trust is a real estate investment trust. It owns, operates, manages, acquires, develops and re-develops predominantly apartment communities.
The share price closed above the 50-day simple moving average (SMA) on Wednesday, signalling a trend continuation. As confluence, the price is trading above the 200-day SMA, signalling a bullish trend. The moving average convergence divergence (MACD) has made a bullish crossover, suggesting momentum to the upside.
A potential Buy/Long idea can be initiated with the take profit (TP) set at $333.52 and the stop loss (SL) set at $277.06.
Health Care
STERIS Plc (STE): STERIS Plc is in the healthcare, and life science products and services business. It operates through healthcare, life sciences, applied sterilisation technologies, and dentistry.
The share price recently tested the 200-day SMA which has historically served as a dynamic support/resistance level. Additionally, the MACD indicator has made a bullish crossover, signalling upward momentum.
A speculative Buy/Long can be initiated with the TP set at $244.04 and the SL set at $215.13.
Health Care
HCA Healthcare, Inc. (HCA): HCA Healthcare is a healthcare services company that operates hospitals, freestanding surgery centres, emergency care facilities, urgent care facilities, and walk-in clinics.
A rising wedge pattern has been confirmed, with the share breaking below the lower line, suggesting a trend reversal. The relative strength indicator has signalled a bearish divergence, signalling momentum to the upside is fading and favouring downward momentum.
A speculative Sell/Short can be initiated with the TP set at $329.82 and the SL set at $386.79.
Disclaimer:
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