JSE & NYSE Shares Analysis | 7 - 11 April
JSE SHARES
Consumer Goods
Anheuser-Busch InBev SA/NV (ANH): Anheuser-Busch InBev SA/NV is a holding company that manufactures and distributes alcoholic and non-alcoholic beverages. It operates in North America, South America, and the Asia Pacific and exports globally.
The share price has tested the resistance level at R1220.32 and is currently trading above the upper Bollinger Band (BB), indicating strong recent momentum. However, the BB squeeze suggests a potential breakout move. Given the bearish divergence on the relative strength indicator (RSI), the upward momentum may be fading, favouring a potential reversal to the downside.
A speculative Sell/Short idea can be initiated with the target set at R1040.34 and the stop loss set at R1246.71.
Basic Materials
AECI Ltd. (AFE): AECI 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 recently tested a key resistance level along with the 200-day simple moving average (SMA). However, it failed to hold above these levels and closed below both the 200-day and 50-day SMA, indicating weakness. As confluence, the moving average convergence divergence (MACD) has made a bearish crossover, reinforcing downside momentum.
A speculative Sell/Short idea can be initiated with the target set at R75.94 and the stop loss set at R94.88.
Financials
JSE Ltd. (JSE): The JSE operates as a self-regulatory, multi-asset class stock exchange. The firm offers liquidity for tradable products, technology, information, primary and secondary market, and post-trade services.
A double top trading pattern has unfolded, with the price closing below the neckline at R116.06, confirming the pattern. The highs of the two peaks formed around the R131 region. As confluence, the share price also closed below the 200-day SMA, indicating that bearish momentum is in control and a potential trend reversal is underway.
A speculative Sell/Short idea can be initiated with the target set at R100.30 and the stop loss set at R121.35.
US STOCKS
Industrials
Carpenter Technology Corp. (CRS): Carpenter Technology manufactures, fabricates, and distributes specialty metals. It operates through the specialty alloys operations and performance-engineered products division.
A head and shoulders pattern has been confirmed, with the price closing below the neckline at $165.36, a classic bearish reversal signal. As confluence, the price has also closed below the 200-day simple moving average (SMA), reinforcing the shift in momentum and suggesting that bears may be taking control of the trend.
A speculative Sell/Short idea can be initiated with the target set at $118.90 and the stop loss set at $167.61.
Information Technology
Fair Isaac Corp. (FICO): Fair Isaac offers decision management solutions. It operates through software and the FICO score divisions.
The share price was trading within a rising wedge pattern and has confirmed a bearish breakout. It is currently trading below the 200-day SMA, indicating that bears are in control of the trend. As further confirmation, the moving average convergence divergence (MACD) has made a bearish crossunder, and the price has closed below the lower Bollinger Band, signalling strong downward momentum.
A speculative Sell/Short idea can be initiated with the target set at $1450.97 and the stop loss set at $1823.74.
Financials
Berkshire Hathaway, Inc. (BRK): Berkshire Hathaway is a holding company that provides property and casualty insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, and retailing services.
A rising wedge trading pattern has been confirmed with a breakdown, signalling a potential reversal. The price is trading below the 200-day SMA, suggesting that bearish momentum is prevailing. As confluence, the MACD has made a bearish crossunder, reinforcing downside momentum.
A speculative Sell/Short idea can be initiated with the target set at $187.08 and the stop loss set at $214.25.
Disclaimer:
*Any opinions, views, analysis or other information provided in this article is provided by BCS Markets SA trading as BROKSTOCK 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.
** This article was prepared by BROKSTOCK analyst Maboko Seabi
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