Financials
Investec Plc (INP): Investec provides financial products and services. It operates in the following divisions: Wealth & Investment, Private Banking, Group Investments, Corporate and Investment Banking.
The share price has recently tested the 200-day simple moving average (SMA) which has historically been a dynamic support/resistance level for the share price. A moving average convergence divergence (MACD) crossover is imminent and will signal upward momentum for the price.
A potential Buy/Long idea can be initiated with the take profit (TP) set at R140.58 and the stop loss (SL) set at R127.23.
Financials
Ninety One Ltd. (NY1): Ninety One Ltd. is in the business of asset management services. It operates and invests globally, offering a range of active strategies to its global client base.
The share price has a double bottom pattern which has triggered a buy signal. The price closed above the neckline at R40.45 and the double bottoms occurred at the R36.60 region. The price is trading above the 200-day SMA, suggesting that the bulls are in charge of the trend.
A potential Buy/Long can be initiated with the TP set at R44.02 and the SL set at R39.53.
Health Care
Life Healthcare Group Holdings Ltd. (LHC): Life Healthcare is an investment company that operates hospitals. In South Africa, the group focuses on hospitals, healthcare and complementary services. Its international division offers diagnostics services.
The share price has breached a major resistance at R16.13, which is its Covid-19 pandemic level. The relative strength indicator (RSI) has crossed under the overbought territory, suggesting that the momentum supports further downward pressure. However, note that the share price is trading above the 200-day simple moving average, meaning the trend is technically bullish.
A speculative Sell/Short can be initiated with the TP set at R13.94 and the SL at R17.59.
Health Care
Moderna, Inc. (MRNA): Moderna, Inc. develops transformative medicines based on messenger ribonucleic acid (mRNA). Its products include prophylactic and cancer vaccines, intratumoral immuno-oncology, localised regenerative therapeutics, systemic secreted therapeutics, and systemic intracellular therapeutics.
The share price has tested the support level at $64.19, which is its Covid-19 pandemic level. The relative strength indicator has signalled a bullish divergence, suggesting that momentum to the downside is fading and potentially supporting upward momentum.
A speculative Buy/Long can be initiated with the take profit (TP) set at $88.36 and the stop loss (SL) set at $58.51.
Communication Services
Charter Communications, Inc. (CHTR): Charter Communications is in the business of providing broadband communications services. These include Spectrum TV, Spectrum Internet and Spectrum Voice. It offers business-to-business internet access, data networking, business lines, and video and audio entertainment services.
A falling wedge pattern is unfolding, suggesting a bullish breakout is imminent when the share price closes above the top pattern line. The price has tested the 200-day simple moving average (SMA) twice, creating another potential double bottom pattern, with the neckline at $346.76. The moving average convergence divergence (MACD) has to confirm a bullish crossover to suggest momentum to the upside.
A potential Buy/Long can be initiated when the price closes above $340 with the TP set at $381.26 and the SL set at $312.24.
Information Technology
NXP Semiconductors NV (NXPI): NXP Semiconductors is a holding company that provides semiconductor solutions.
The share price has been making higher highs and higher lows. However, it has been trading below the 200-day simple moving average for the whole month of September. The MACD has signalled a bullish divergence, suggesting momentum to the downside is fading and favouring upward momentum.
A potential Buy/Long can be initiated when the price closes above the 200-day SMA at $247.38, with the TP set at $285.83 and the SL set at $222.22.
Disclaimer:
Any opinions, views, analysis or other information provided in this article is provided by BCS Markets SA trading as BROCKSTOCK as general market commentary and should not be viewed as advice according to the FAIS Act of 2002. BCS Markets SA does not warrant the correctness, accuracy, timeliness, reliability or completeness of any information provided by third parties. You must rely upon your judgement in all aspects of your investment decisions and all decisions are made at your own risk. BCS Markets SA and any of its employees shall not be responsible for and will not accept any liability for any direct or indirect loss including without limitation any loss of profit which may arise directly or indirectly from use of the market commentary. The content contained within the article is subject to change at any time without notice. BCS Markets SA is an authorised financial services provider FSP No. 51404.
