JSE & NYSE Shares Analysis 31 August - 4 September 2026

JSE SHARES

Financials

DSY — Discovery Limited

South African financial-services group built around its Vitality health-and-wellness model, spanning life, health, short-term insurance and banking.

Potential LONG  ·  Entry: on a confirmed daily close above R261.76  ·  Stop R247.76  ·  Target R292.34  ·  Reward/Risk ratio 2.2:1

The setup: Discovery has been carving out a falling wedge — price compressing between two down-sloping trendlines, a pattern that usually breaks to the upside. Price has pushed to the top of the wedge and the MACD momentum lines have curled up with the histogram flipping green, a sign the sellers are fading. A daily close above the wedge resistance near R261.76 opens the measured move towards R292.34, with the stop below the wedge at R247.76.

Pending trigger: no long is live until a daily close above R261.76. Until then, this is a watch, not a trade.

Basic Materials

SAP — Sappi Limited

Johannesburg-based global producer of dissolving wood pulp, packaging and graphic papers.

Speculative SHORT  ·  Entry: on a confirmed daily close below R14.62  ·  Stop R17.13  ·  Target R9.34  ·  Reward/Risk ratio 2.1:1

The setup: Sappi rallied hard off its lows but has run straight into the top of a long-running descending channel and its 200-day moving average, where it stalled. The MACD has rolled over into a bearish crossover after that bounce, warning that momentum is fading. A daily close below R14.62 turns the channel back down towards the R9.34 target, with the stop above the rejection high at R17.13.

Financials

SLM — Sanlam Limited

One of Africa's largest financial-services groups — life and general insurance, investment management and wealth.

Potential LONG  ·  Entry: on a hold above R87.09  ·  Stop R83.72  ·  Target R92.17  ·  Reward/Risk ratio 1.5:1

The setup: Sanlam has been ranging between support near R82.20 and resistance near R92.42. Price is holding the mid-range pivot around R87.09 and the MACD has just ticked up with a green histogram bar, an early sign momentum is turning higher. A hold above R87.09 targets the top of the range at R92.17, with the stop below at R83.72. This is the most advanced of the three — the momentum turn is already underway — but it still needs price to hold the pivot to confirm.

US STOCKS

Industrials

AME — AMETEK, Inc.

US manufacturer of electronic instruments and electromechanical devices for industrial, aerospace and process markets.

Potential LONG  ·  Entry: on a reclaim above $242.11  ·  Stop $234.21  ·  Target $261.36  ·  Reward/Risk ratio 2.4:1

The setup: AMETEK has been trending inside a rising channel but just dropped sharply back to its lower boundary and slipped below the 50-day moving average on a 3% down day. That pullback sits at channel support, and the MACD is beginning to curl up off its lows, hinting at a bounce. A reclaim of $242.11 — back above the 50-day and into the channel — targets the top of the channel at $261.36, with the stop below the channel at $234.21.

Pending trigger: no long is live until price reclaims $242.11. Until then this is a watch, not a trade.

Technology

CGNX — Cognex Corporation

Maker of machine-vision systems and industrial barcode readers used in factory automation worldwide.

Potential LONG  ·  Entry: on a bounce and hold above $60.59  ·  Stop $56.49  ·  Target $70.84  ·  Reward/Risk ratio 2.5:1

The setup: Cognex has pulled back to the lower end of its range near support at $58.19 after a sharp down day, and the MACD is starting to turn up from below zero. A hold and bounce back above $60.59 opens the move toward the top of the green zone at $70.84, just under the $71.74 resistance, with the stop below support at $56.49.

Materials

ESI — Element Solutions Inc.

Specialty-chemicals maker supplying the electronics, industrial and energy markets.

Potential LONG  ·  Entry: on a confirmed daily close above $37.42  ·  Stop $33.14  ·  Target $47.20  ·  Reward/Risk ratio 2.3:1

The setup: Element Solutions has been compressing inside a falling wedge — narrowing between two down-sloping trendlines, a pattern that typically resolves higher. Price is coiling near the apex just above the rising 200-day moving average, and the MACD is curling up toward a bullish turn. A daily close above the wedge resistance at $37.42 activates the measured move toward $47.20, with the stop below the wedge at $33.14.

Pending trigger: no long is live until a daily close above $37.42 prints. Until then this is a watch, not a trade.

Disclaimer:
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** This article was prepared by BROKSTOCK analyst Maboko Seabi