Financials
Old Mutual Ltd. (OMU): Old Mutual Ltd. is in the business of investment, savings, insurance and banking services. It operates through Personal Finance and Wealth Management, Old Mutual Investments, Old Mutual Corporate and Old Mutual Insure
The share price continues to trade within a rising channel, with support holding around R13.10 and resistance situated near R14.20. Price has now closed above the 50-day simple moving average (SMA), reinforcing the prevailing upward trend and signalling continued bullish structure. As confluence, the moving average convergence divergence (MACD) has produced a bullish crossover, indicating that upward momentum is building and favouring a potential move toward the channel resistance.
A potential Buy/Long idea can be initiated, with the target set at R15.21 and the stop loss set at R12.98.
Industrials
Wilson Bayly Holmes-Ovcon Ltd. (WBO): Wilson Bayly is in the civil engineering and building contracting activities. It operates through the following segments: building and civil engineering, roads and earthworks, United Kingdom, construction materials and property Development.
The share price has broken out of a falling wedge pattern, signalling a potential shift in trend direction. As confluence, the relative strength indicator (RSI) has formed a bullish divergence, indicating that downward momentum is fading and supporting the case for renewed upside.
A potential Buy/Long idea can be initiated, with the target set at R165.67 and the stop loss set at R143.09.
Financials
OUTsurance Group Limited (OUT): OUTsurance Group Ltd. is a financial services investment group. Its portfolio comprises insurance products such as life cover, medical aid schemes, car, individual, and business insurance. It operates in South Africa, Australia, New Zealand and Namibia.
The share price has broken out of a falling wedge pattern and has also closed above the 200-day SMA, reinforcing the bullish shift in trend. As confirmation, the MACD has completed a bullish crossover, signalling that upside momentum is gaining traction.
A potential Buy/Long idea can be initiated, with the target set at R81 and the stop loss set at R71.04.
Information Technology
Microsoft Corp. (MSFT): Microsoft develops software and offers support services, devices, and related solutions.
The stock price has been consolidating between support at $553.43 and resistance at $494.29. It recently tested and closed above this resistance zone, signalling a potential breakout. A sustained close above the 50-day simple moving average (SMA) would further confirm the continuation of the upward trend. As confluence, the moving average convergence divergence (MACD) is poised for a bullish crossover, indicating that upward momentum may soon strengthen.
A potential Buy/Long idea can be initiated, with the target set at $551.52 and the stop loss set at $492.57.
Real Estate
STAG Industrial, Inc. (STAG): STAG is a real estate investment company in the business of acquiring, owning and managing single-tenant, industrial real estate assets.
The price is poised to close below the rising wedge pattern, signalling a potential shift in trend. This comes after the price tested the upper band of the Bollinger Bands (BB) but failed to hold above it, indicating fading buying pressure. As confluence, the MACD has formed a bearish divergence, reinforcing the view that upward momentum is weakening and that a downside move may be developing.
A speculative sell/short idea can be initiated once the price closes below $38.35, with the target set at $36.41 and stop loss set at $39.56.
Consumer Staples
Walmart, Inc. (WMT): Walmart is in the retail and wholesale business. The company offers an assortment of merchandise and services at everyday low prices.
A falling wedge pattern is on the verge of confirmation, with the price approaching a close above the 50-day SMA. The share remains firmly above the 200-day SMA, reinforcing that the broader trend is still controlled by the bulls. As confluence, the MACD is poised for a bullish crossover, signalling that upward momentum may soon accelerate.
A potential Buy/Long idea can be initiated once the price closes above $103.50, with the target set at $110.23 and stop loss set at $99.27.
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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