JSE & NYSE Shares Analysis | 9 - 13 December
JSE SHARES
Basic Materials
Sasol Ltd. (SOL): Sasol Ltd. is a chemical and energy company that sources, produces, and markets chemical and energy products.
The share price is trading within a falling wedge pattern and has recently made a bullish breakout. Adding to this positive signal, the moving average convergence divergence (MACD) has formed a bullish crossover, suggesting that upward momentum may be gaining strength.
A potential Buy/Long idea can be initiated with the take profit (TP) set at R119.21 and the stop loss (SL) set at R83.67.
Financials
JSE Ltd. (JSE): JSE Ltd. operates as a self-regulatory, multi-asset class stock exchange. The firm offers liquidity for tradable products, and technology, information, primary and secondary market, and post-trade services.
The share price has tested the support level at R121 and closed above it. Additionally, the price closed above the 50-day simple moving average (SMA), signalling a continuation of the bullish trend. This is further confirmed by the price trading above the 200-day SMA, reinforcing the overall upward momentum.
A potential Buy/Long idea can be initiated when the share price closes above R130, with the TP set at R133.83 and the SL set at R117.20.
Financials
Growthpoint Properties Ltd. (GRT): Growthpoint Properties Ltd. is in the real estate investment business. It operates retail, office, industrial, healthcare, student accommodation, and trading and development buildings in South Africa, Australia, the United Kingdom, and Central and Eastern Europe.
A double bottom pattern is forming, with the lows at approximately R12.80 and the neckline at R13.44. The price has closed above the 50-day SMA, signalling a potential upward trend continuation. Adding to this confluence, the price is trading above the 200-day SMA, reinforcing the bullish trend.
A potential Buy/Long idea can be initiated with the TP set at R14.20 and the SL set at R12.96.
US STOCKS
Technology
Daqo New Energy Corp. (DQ): Daqo New Energy is a holding company in the polysilicon products business. It manufactures and sells polysilicon to photovoltaic product manufacturers, who further process it into ingots, wafers, cells, and modules for solar power solutions.
The share price is trading within a falling wedge pattern and tested the lower boundary at $18.16. The price is now testing the 200-day simple moving average (SMA) at $20.58. While the price remains below the 200-day SMA, a daily close above this level could signal a bullish trend continuation. Additionally, the moving average convergence divergence (MACD) has made a bullish crossover, indicating potential upward momentum.
A potential Buy/Long idea can be initiated with the take profit (TP) set at $29.35 and the stop loss (SL) set at $16.39.
Consumer Discretionary
JD.com, Inc. (JD): JD.com is a technology-driven E-commerce company that sells electronics and general merchandise, including audio, video products, and books.
The share price has closed above the upper Bollinger Band (BB), signalling a potential continuation of the current trend. Adding to this confluence, the price is trading above the 200-day SMA, indicating that bulls remain in control. Further supporting this bullish outlook is the positive momentum reflected in the MACD's recent bullish crossover.
A potential Buy/Long idea can be initiated with the TP set at $49.86 and the SL set at $35.58.
Consumer Discretionary
La-Z-Boy, Inc. (LZB): La-Z-Boy produces, manufactures, and distributes residential furniture.
The share price is trading within an ascending pattern and tested the upper boundary around the $45.00 region. While the MACD shows a bearish divergence and has not yet made a bearish crossover, it signals potential downward momentum. However, the price remains above the 200-day SMA, suggesting the overall trend remains bullish. The recent move could represent a potential retracement within the broader uptrend.
A speculative Sell/Short can be initiated with the TP set at $40.96 and the SL set at $47.36.
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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