JSE & NYSE Shares Analysis 11 - 15 May
JSE SHARES
Basic Materials
South32 Ltd. (S32): South32 is a metal and mining company.
The share price is showing a classic trend continuation setup, having recently closed above the 50-day simple moving average (SMA) while continuing to trade well above the 200-day SMA, reinforcing the strength of the broader uptrend. Supporting this bullish outlook, the moving average convergence divergence (MACD) has completed a bullish crossover, signalling strengthening upward momentum.
A potential Buy/Long idea can be initiated, with the target set at R59.36 and stop loss at R47.11.
Consumer Services
Sun International Ltd. (SUI): Sun International is involved in the investment and management of hotel, casino, and entertainment properties.
The share price is currently testing the resistance level around R48.80, while also trading near the upper boundary of the expanding Bollinger Bands, indicating strong recent momentum. However, the relative strength index (RSI) has moved back below overbought territory, suggesting that upward momentum may be starting to ease, and a short-term pullback or consolidation could be on the cards.
A speculative Sell/Short idea can be initiated, with the target set at R42.58 and stop loss at R51.56.
Financials
Sygnia Ltd. (SYG): Sygnia is a holding company that offers investment management and administration services to institutional and retail clients.
A rising wedge pattern is unfolding, with the price also testing the 200-day SMA as a dynamic resistance level. A decisive close below R32 would confirm the bearish setup and strengthen the case for further downside. Adding to this view, the MACD is nearing a bearish cross-under, which would further confirm weakening momentum and increasing downside pressure.
A speculative Sell/Short idea can be initiated, with the target set at R28.07 and stop loss at R34.64.
US STOCKS
Materials
Compañía de Minas Buenaventura S.A.A. (BVN): Compañía de Minas Buenaventura is in the development and exploration of mineral properties.
A double bottom pattern is unfolding, with a decisive close above $38.80 set to confirm the bullish reversal. Importantly, this setup is developing while the price continues to trade above the 200-day simple moving average (SMA), reinforcing the strength of the broader trend. Supporting the bullish case further, the moving average convergence divergence (MACD) has formed a bullish divergence, suggesting that downward momentum is fading and upside momentum may be starting to build.
A potential Buy/Long idea can be initiated once the price closes above $38.80, with the target set at $48.12 and the stop loss set at $33.69.
Information Technology
Adobe, Inc. (ADBE): Adobe is a global technology company in the business of digital marketing and media solutions.
A falling wedge pattern is unfolding alongside a classic bearish trend continuation setup, with the price recently closing below the 50-day SMA, signalling weakening price action. A MACD bearish cross-under would further confirm the build-up in downward momentum and strengthen the bearish outlook.
A potential Sell/Short idea can be initiated, with the target set at $216.11 and the stop loss set at $260.02.
Materials
CF Industries Holdings, Inc. (CF): CF Industries is in the manufacturing and distribution of nitrogen fertiliser. The firm owns and operates nitrogen plants and serves agricultural and industrial customers through its distribution system.
A classic trend continuation setup is unfolding, with the price closing above the 50-day SMA while continuing to trade above the 200-day SMA, reinforcing the strength of the broader uptrend. In addition, the MACD is nearing a bullish crossover, which would further confirm the building upward momentum.
A potential Buy/Long idea can be initiated, with the target set at $150.90 and the stop loss set at $106.76.
Disclaimer:
*Any opinions, views, analysis, or other information provided in this article is provided by BROKSTOCK SA trading as BROKSTOCK as general market commentary and should not be viewed as advice according to the FAIS Act of 2002. BROKSTOCK 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. BROKSTOCK 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 the use of the market commentary. The content contained within the article is subject to change at any time without notice. BROKSTOCK SA is an authorised financial services provider - FSP No. 51404. T&Cs and Disclaimers are applicable: https://brokstock.co.za/
** This article was prepared by BROKSTOCK analyst Maboko Seabi
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