Basic Materials
Harmony GM Co Ltd Ordinary (HAR): Harmony GM Co Ltd Ordinary is in the mining and exploration of gold. It involves building mines, open-pit operations, sales, financial management, land rehabilitation, and mine closure.
The share price has confirmed a double bottom pattern with a close above the neckline at R269. As confluence, the price also closed above both the 50-day and 200-day simple moving averages (SMAs), reinforcing the continuation of the upward trend. Additionally, a bullish divergence on the moving average convergence divergence (MACD) suggests that upward momentum is gaining strength.
A potential Buy/Long idea can be initiated, with the target set at R328.65 and the stop loss set at R235.44.
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 has been consolidating between R82 (support) and R111 (resistance) since September 2022. It recently tested the resistance level at R111 and now appears poised for a potential pullback. This view is supported by an imminent bearish crossover on the MACD, which signals possible downward momentum.
A speculative Sell/Short idea can be initiated, with the target set at R97.12 and the stop loss set at R114.70.
Financials
Stor-Age
Property REIT Ltd. (SSS): Stor-Age is a real estate investment
trust that provides property funds focused on the self-storage sector, a niche
sub-sector of the broader commercial property market.
The share price has closed above the 50-day SMA, reinforcing the continuation of the upward trend. This is supported by the price trading above the 200-day SMA, confirming long-term bullish momentum. Additionally, the MACD has made a bullish crossover, further signalling that upward momentum remains in play.
A potential Buy/Long idea can be initiated, with the target set at R17.15 and the stop loss set at R15.21.
Utilities
American
Water Works Co., Inc. (AWK): American Water Works is a holding
company that provides water and wastewater services.
The stock price has been consolidating above the 200-day simple moving average (SMA), indicating the underlying bullish trend remains intact. On Friday, the price closed above the upper Bollinger Band (BB), accompanied by a potential band expansion, both signalling rising volatility and strong upward momentum. Additionally, a recent bullish moving average convergence divergence (MACD) crossover reinforced the likelihood of continued upside.
A potential Buy/Long idea can be initiated, with the target set at $157.47 and the stop loss set at $137.84.
Health
Care
Exelixis, Inc. (EXEL): Exelixis is an oncology company that
focuses on discovering, developing, and commercialising new medicines for
difficult-to-treat cancers.
A bearish gap occurred, bringing the stock price down to test the 200-day SMA as dynamic support. As confluence, a bullish engulfing candlestick formed on Friday, signalling a potential reversal. Supporting this shift in sentiment, the relative strength indicator (RSI) has crossed out of oversold territory, suggesting upward momentum may be building.
A potential Buy/Long idea can be initiated, with the target set at $44.12 and the stop loss set at $33.99.
Industrials
Howmet Aerospace, Inc. (HWM): Howmet is in the development and manufacturing
of lightweight metal products. It operates through the following
segments: engine products, fastening systems, engineered structures and forged
wheels.
A bearish breakout from the rising wedge pattern occurred on Thursday, confirming a potential reversal. As confluence, the MACD showed a bearish divergence, indicating fading upward momentum and supporting the case for further downside.
A speculative Sell/Short idea can be initiated, with the target set at $163.44 and the stop loss set at $193.51.
Disclaimer:
*Any opinions, views, analysis or other information provided in this article is provided by BROKSTOCK SA trading as BROKSTOCK as general market commentary and should not be viewed as advice according to the FAIS Act of 2002. BROKSTOCK 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. BROKSTOCK 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. BROKSTOCK SA is an authorised financial services provider FSP No. 51404.
** This article was prepared by BROKSTOCK analyst Maboko Seabi
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