JSE & NYSE Shares Analysis | 9-13 September
JSE SHARES
Beverages
Anheuser-Busch InBev SA/NV (ANH): Anheuser-Busch InBev SA/NV operates as a holding company, which is in the manufacturing and distribution of alcoholic and non-alcoholic beverages. It operates in North America, Americas, South America, Asia Pacific and global exports.
The share price is trading in a descending channel, after testing the lower bound of the channel at R1072.00 region. The share is currently heading to test the upper bound of the channel.
A potential Buy/Long idea can be initiated with a take profit (TP) set at R1189.69 and the stop loss (SL) set at R1091.05.
Information Technology
Altron Ltd. (AEL): Altron Ltd. is in the business of technology solutions. It operates in managed services, digital transformation, its own platforms and Altron Arrow.
There is a double top pattern unfolding, with the resistance of top one and top two at R18.00. The neckline is at R15.64. The moving average divergence convergence (MACD) has signalled a bearish divergence, signalling loss in momentum to the upside and potentially favouring the downward momentum.
A speculative Sell/Short idea can be initiated once price closes below the neckline at R15.64 with a take profit (TP) set at R13.69 and the stop loss (SL) set at R16.96.
Industrials
Bidvest Group Ltd (BVT): The Bidvest Group Ltd. functions as an investment holding company with its subsidiaries operating in the services, trading and distribution industries. It operates through automotive, commercial products, financial services, freight, branded products and properties.
The share price has been consolidating, with resistance level one at R284.40, resistance level two at R296.84 and support level at R234.31. The price recently tested resistance two and is making its way downward to the support level. As confluence, the moving average divergence convergence (MACD) has signalled a bearish divergence, signalling loss in momentum to the upside and potentially favouring the downward momentum.
A speculative Sell/Short idea can be initiated with a take profit (TP) set at R260.18 and the stop loss (SL) set at R297.51.
US STOCKS
Healthcare
Pfizer Inc. (PFE): Pfizer Inc. is a research based global biopharmaceutical company, which is in the business of discovery, development, manufacture, marketing, sales and distribution of biopharmaceutical products worldwide.
A share price has changed direction, after a golden cross took place, the 50-day simple moving average (SMA) crossed above the 200-day simple moving average (SMA). The price tested the 200 day SMA as a dynamic support/resistance level. Once the price closes above the 50-day SMA, it will confirm the continuation of the bullish trend. The moving average divergence convergence will confirm momentum direction once it makes a bullish crossover
A speculative Buy/Long can be initiated once the two conditions are met with a take profit (TP) set at $31.14 and the stop loss (SL) set at $28.13.
Consumer Discretionary
Chipotle Mexican Grill, Inc. (CMG): Chipotle Mexican Grill, Inc. is in the business of developing and operating restaurants that serve a relevant menu of burritos, burrito bowls, quesadillas, tacos and salads.
A double bottom is unfolding with the trough of bottom one and bottom two at region of $48 and the neckline at $56.43. The price is trading below the 200-day simple moving average (SMA), suggesting that the bears are in charge of the trend.
A speculative Buy/Long can be initiated if price closes above the neckline at $56.43, with a take profit (TP) set at $62.51 and the stop loss (SL) set at $53.43.
REIT
Public Storage (PSA): Public Storage operates as a real estate investment trust, which is in the business of acquiring, developing, owning and operating self storage facilities.
The share price is trading in an ascending channel, currently the price is testing the upper bound of the channel, and there is a resistance level at $341.25. There is a bearish divergence occurring on the relative strength indicator from the peaks of the channel, signalling momentum weakness.
A speculative sell/short idea can be initiated once the share price closes below $341.25, with a take profit (TP) set at $313.20 and the stop loss (SL) set at $354.57.
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