Technology
Altron Ltd. (AEL): Altron Ltd. is in the business of technology solutions. It operates in managed services, digital transformation, its own platforms, and Altron Arrow.
The share price closed above the 50-day simple moving average (SMA) after successfully testing the 200-day SMA as dynamic support, indicating potential continuation of the upward trend. This bullish signal is further supported by a moving average convergence divergence (MACD) crossover, suggesting strengthening momentum to the upside.
A potential Buy/Long idea can be initiated, with the target set at R24.97 and the stop loss set at R20.34.
Consumer Services
Mr. Price Group Ltd. (MRP): Mr. Price Group Ltd. is in the clothing and retail business. It operates through apparel, home, financial services, telecoms, and central services.
The share price has tested a key support level at R215, coinciding with a touch of the lower Bollinger Band, which often signals exhaustion in selling pressure. The relative strength indicator (RSI) has just exited oversold territory, indicating that bearish momentum is waning and a potential reversal or upward move may be unfolding.
A potential Buy/Long idea can be initiated, with the target set at R246.79 and the stop loss set at R208.57.
Financials
MAS Plc (MSP): MAS Plc is in the real estate investment, acquisition, and development business.
The share price is currently testing the resistance level at R24, with the RSI in overbought territory, typically a potential short-term pullback warning. However, with the broader trend still pointing upward, any downside may prove to be a temporary correction within a continuing bullish trend.
A speculative Sell/Short idea can be initiated, with the target set at R20.37 and the stop loss set at R25.81.
Health Care
Alcon, Inc. (ALC): Alcon is in the development, manufacturing, and marketing of surgical equipment and devices, pharmaceutical eye drops, and consumer vision care products to treat eye diseases and disorders.
A double bottom pattern is unfolding, with both troughs forming near the trendline at the $84.30 region. To confirm the bullish reversal, the price needs to close above the neckline at $89.80. Supporting this setup, the moving average convergence divergence (MACD) is showing upward momentum, indicating that buyers may be regaining control.
A potential Buy/Long idea can be initiated, with the target set at $95.06 and the stop loss set at $87.09.
Consumer Discretionary
Acushnet Holdings Corp. (GOLF): Acushnet Holdings is involved in the design, development, manufacturing, and distribution of performance-driven golf products.
The share price has been trading within a defined horizontal channel, with support at $59.75 and resistance at $74.77. After recently testing the resistance level, the price failed to break above and closed below it, indicating potential weakness. As confluence, the MACD has made a bearish crossunder, reinforcing the likelihood of downward momentum within the range.
A speculative Sell/Short idea can be initiated, with the target set at $65.48 and the stop loss set at $77.12.
Information Technology
IonQ, Inc. (IONQ): IonQ develops and manufactures quantum computers. The firm specialises in quantum computing and quantum information processing.
A double bottom trading pattern is unfolding, with confirmation marked by a close above the neckline at $44. This imminent bullish breakout will potentially coincide with a brief contraction in the Bollinger Bands, followed by a close above the upper band, signalling a surge in upside momentum and reinforcing the potential for continued upward movement.
A potential Buy/Long idea can be initiated, with the target set at $52.39 and the stop loss set at $38.60.
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** This article was prepared by BROKSTOCK analyst Maboko Seabi
