JSE & NYSE Shares Analysis | 8-12 July
JSE SHARES
Impala Platinum Holdings Ltd (IMP)| Mining: Impala platinum holdings Ltd. is in the business of mining, refining and marketing of platinum group metals (PGMs). It operates in South Africa and Zimbabwe.
The share price is trading in an ascending channel from the lows of R56.88 and has been making higher highs and higher lows. The price has tested the lower bound of the channel as well as the 200-day Simple Moving Average (SMA). The Moving Average Convergence Divergence (MACD) has made a bullish crossover, suggesting momentum to the upside is applicable. Additionally, the share is trading above the 200-day SMA, signalling that the bulls are in charge of the trend.
A potential buy/long idea can be initiated with a take profit (TP) set at R113.96 and the stop loss (SL) set at R87.96.
Sappi Ltd (SAP) | Process Industries: Sappi Ltd. Is a holding company, which is in
the business of provision of wood-fiber based solutions. Its products include
Dissolving pulp, specialties and packaging papers, printing and writing papers,
and forestry.
The upward trajectory, making higher highs and higher lows. The price is currently trading above the 200-day Simple Moving Average (SMA), signalling the bulls are in charge of the trend. The Crossover the 50-day Simple Moving Average (SMA) combined with the Moving Average Convergence Divergence (MACD) bullish crossover, suggest momentum to the upside is favoured.
A potential buy/long idea can be initiated with a take profit (TP) set at R60.66 and the stop loss (SL) set at R48.80.
Santam Ltd (SNT) | Finance: Santam Ltd. is in the business of insurance
and investment services. The insurance service offers conventional, credit,
alternative risk transfer, and Sanlam emerging market (SEM) general insurances.
The investment service includes all investment related activities undertaken by
the company.
The share price is trading in an ascending channel, having tested the upper bound of the channel at the R335.00 region. The Moving Average Convergence Divergence (MACD) yet to confirm bearish crossover, suggesting momentum to the downside is applicable. Traders should be wary of the 200-day Simple Moving Average, which signals that the trend is still bullish.
A speculative sell/short idea can be initiated with a take profit (TP) set at R295.53 and the stop loss (SL) set at R336.44.
US STOCKS
Moderna, Inc.(MRNA) | Health Technology: Moderna, Inc.is in the business of development of transformative medicines based on messenger ribonucleic acid (mRNA). Its products include prophylactic vaccines, cancer vaccines, intratumoral immuno-oncology, localised regenerative therapeutics, systemic secreted therapeutics, and systemic intracellular therapeutics.
The share price is trading in an ascending channel,the price tested the lower bound of the channel. Additionally ,the price is trading above the 200-day Simple moving average (SMA),signalling that the bulls are in charge of the trend.The Moving Average Convergence and Divergence (MACD) is yet to make a bullish crossover, suggesting momentum to the upside is applicable.
A Buy/Long idea can be initiated with a target set at $147.21 and the stop loss set at $106.85.
Thermo Fisher Scientific, Inc.(TMO) | Health Technology: Thermo Fisher Scientific, Inc. is
in the provision of analytical instruments, equipment, reagents, software,
services for research, analysis, discovery, and diagnostics.
The share price recently tested the support level at $534.26 and the 200-day Simple Moving Average (SMA). The Relative Strength Indicator (RSI) has made a crossover the overbought territory, suggesting the momentum to the upside is applicable.
A Buy/Long idea can be initiated with a target set at $579.22 and the stop loss set at $521.78.
Visa, Inc.(V) | Commercial Services: Visa, Inc. is in the business of provision of
digital payment services. It also facilitates global commerce through the
transfer of value and information among a global network of consumers,
merchants, financial institutions, businesses, strategic partners and
government entities..
The share price retraced back to test 200-day Simple Moving Average (SMA), which has historically been a dynamic support/resistance level. The Moving Average Convergence and Divergence (MACD) is yet to make a bullish crossover, suggesting momentum to the upside is applicable.
A Buy/Long idea can be initiated with a target set at $292.37 and the stop loss set at $260.31.
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