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• Ninety One Ltd (NY1) | Finance: Ninety One Ltd. is in the business of asset management services. It operates and invests globally and offers a range of active strategies to its global client base.
The share price has been in an ascending channel, having tested the lower bound, it suggests the price will head up to reach the upper bound of the channel. The MACD has made a bullish divergence, suggesting that momentum to the downside is fading and favouring the upside momentum.
A buy/long idea can be initiated with a take profit (TP) set at R41.92 and the stop loss (SL) set at R36.85.
• AVI Ltd (AVI) | Consumer non-durable: AVI Ltd is in the business of manufacturing,
processing, marketing, sale, and distribution of branded consumer products in
the food, beverage, and clothes categories.
Since 2019 AVI share price has tested the zone two times and headed lower, it recently tested the resistance zone and did not manage to break above the resistance zone between R89.00 and R96.00. The share price is currently trading at R87.69 and on Friday it tested the 50 day SMA.
A speculative sell/short can be initiated with a take profit (TP) set at R81.86 and stop loss (SL) set at R91.40.
• Anglo American Plc (AGL) | Mining: Anglo American Plc is a mining
company, which is in the business of exploration and mining of precious base
metals and ferrous metals. The company operates through De Beers, copper,
platinum group metals(PGMs), iron ore, coal, Nickel and Manganese.
The share price is in a descending channel, it is yet to test the upper bound of the channel. The RSI is in overbought territory, suggesting the downside momentum will be favoured. The price is currently trading at R621.85, after it made over 18% jump on news that BHP Billiton is interested in purchasing the miner's assets.
A sell/short can be initiated with a take profit (TP) set at R525.75 and stop loss (SL) set at R682.29.
• Ford Motor Co (F) | Consumer durables: Ford Motor Co. is in the manufacturing, distribution, and sale of automobiles. It operates through the following segments: Ford Blue, Ford Model E, Ford Pro, Ford Next and Ford Credit
The share price is currently trading at $12.44. The 50-day SMA has crossed above the 200-day SMA (Golden cross), signalling that the bulls have taken charge of the trend. The MACD is yet to make a crossover to signal momentum to the upside.
A buy/long idea can be initiated with a take profit (TP) set at $13.27 and the stop loss (SL) set at $11.90.
• EOG Resources, Inc(EOG) | Mining: EOG Resources, Inc. is in the
business of exploration, development, production and marketing of crude oil and
natural gas.
The share price is trading at $130.02 after it tested the resistance level at $135.21, the price has been ranging between the resistance and the support level at $109.54.
A speculative sell/short can be initiated with a take profit (TP) set at $116.06 and stop loss (SL) set at $139.23.
• FedEx Corp (FDX) | Transportation : FedEx Corp. is a holding company, which is in
the business of transportation, e-commerce, business services, and business
solutions.
The share price is currently trading at $260.65, it is yet to complete its cycle of reaching the lower bound of the ascending channel. The share price has been closing below the 50-day SMA for the past four days, this could hint price could continue downside move.
A sell/short can be initiated with a take profit (TP) set at $245.74 and stop loss (SL) set at R$270.70.
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