JSE & NYSE Shares Analysis 28 September - 2 October 2026

JSE SHARES

Basic Materials

AGL — Anglo American plc

Globally diversified mining group with core exposure to copper and iron ore.

Speculative SHORT · Entry: on a confirmed daily close below the R836.42 neckline · Stop R874.47 · Target R739.24 · Reward/Risk ratio 2.6:1

The setup: Anglo American has built a head-and-shoulders top since late July, with the head near R942 in early September and a lower right shoulder capped around R910 last week. Price has rolled over from the right shoulder to close at R864.41, back below the Bollinger Band middle line, which has flattened and now acts as resistance. The lower band sits almost exactly on the R836.42 neckline, making it a key level: a daily close beneath it confirms the pattern and opens the measured move towards R739.24.

Consumer Services

MRP — Mr Price Group Ltd.

Value-focused South African omnichannel retailer of clothing, homeware, sportswear and cellular products.

Potential LONG · Entry: R163.99 · Stop R153.37 · Target R184.71 · Reward/Risk ratio 2:1

The setup: After sliding from around R183 in mid-August, Mr Price compressed into a falling wedge that bottomed near R155 in the first half of September. Price broke above the upper wedge line around 16 September and has since held above the Bollinger middle band, consolidating while the band's narrow. The MACD has formed a bullish crossover, suggesting momentum is recovering rather than strong. A push through the upper band near R165 adds further confirmation.

Financials

RNI — Reinet Investments S.C.A.

Luxembourg-based investment holding company with a portfolio of listed and unlisted assets, including a stake in British American Tobacco.

Potential LONG · Entry: R433.70 · Stop R411.46 · Target R487.80 · Reward/Risk ratio 2.4:1

The setup: Reinet has traded inside a falling wedge since the late-June high near R485. Mid-September lows briefly tested major support at R428.74 but failed to hold, and price then broke above the upper wedge line, reaching about R445 before pulling back to close at R432.40. The pullback may potentially be a retest of the breakout area just above support. The RSI has printed a bullish divergence, and made higher lows while price made lower lows.

US STOCKS

Information Technology

KLAC — KLA Corporation

Semiconductor equipment maker specialising in process control, inspection and yield-management systems for chipmakers.

Potential LONG · Entry: on a confirmed daily close above the $191.04 neckline · Stop $181.26 · Target $215 · Reward/Risk ratio 2.4:1

The setup: KLA has formed a double bottom, with lows near $167 in early September and $166 in mid-September, both around the rising 200 SMA. The neckline sits at $191.04, the 8 September peak. Price has since reclaimed the 200 SMA and closed at $189.71, pressing into the declining 50 SMA. MACD shows a bullish divergence, with a higher low at the second bottom, and the MACD signals a positive momentum. The setup is speculative until price closes above the neckline, the measured move of roughly $24 points to $215.

Financials

PGR — The Progressive Corporation

US insurer specialising in personal and commercial auto cover, alongside home and property insurance.

Potential LONG · Entry: $208.89 · Stop $200.57 · Target $222.78 · Reward/Risk ratio 1.7:1

The setup: Progressive has traded in a range since late July, between support at $203.75 and resistance at $222.91, which capped rallies in late July, late August and early September. Last week, price sold off through the lower Bollinger Band and slipped below support to around $201, but the break did not hold: Friday’s gain closed back above support, a false breakdown that traps late sellers. The Bollinger middle line near $214.50 is the first hurdle, with the range top as a potential target.

Information Technology

TEM — Tempus AI, Inc.

Healthcare technology company using AI and genomic sequencing to support precision medicine, mainly in oncology.

Speculative SHORT · Entry: on a daily close back below $83.04 · Stop $89.90 · Target $68.69 · Reward/Risk ratio 2.1:1

The setup: Tempus has climbed within an ascending channel since late July, rising from around $42 to $85. A golden cross printed in mid-September, so the primary trend is bullish and this is a counter-trend, speculative trade. Price is now pressing the upper channel line with RSI at about 72, in overbought territory. The last time the upper line and an RSI reading above 70 coincided, in late August, the stock pulled back roughly 20% to the lower channel line. A close back below $83.04 confirms rejection from resistance, targeting the lower half of the channel at $68.69. A close above $89.90 signals a channel breakout and invalidates the setup.

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** This article was prepared by BROKSTOCK analyst Maboko Seabi