JSE & NYSE Shares Analysis 20 - 24 July 2026

JSE SHARES

Basic Materials

BHP Group Ltd. (BHG): BHP is involved in the exploration, development, production and processing of iron ore, metallurgical coal, and copper.

The share price has broken out of a falling wedge pattern and is holding above the R656 breakout level, which now acts as support. The breakout is confirmed by a bullish engulfing candlestick, signalling strong buying interest at these levels. Adding to the bullish case, the moving average convergence divergence (MACD) has made a bullish crossover, indicating that upward momentum is building. As long as the price holds above R656, the outlook favours further upside.

A potential Buy/Long idea can be initiated, with the target set at R733.17 and stop loss at R642.45.  

Consumer Services

Truworths International Ltd. (TRU): Truworths is in the retailing of fashion apparel and accessories.

The share price broke above the 200-day simple moving average (SMA) but failed to hold; a sign that buyers lacked conviction at those levels. It has since rolled over, falling back below not only the 200-day but also the 50-day SMA, a bearish development that suggests the downtrend is resuming. The MACD supports this view, continuing to push lower and confirming that downward momentum remains intact. Until the price can reclaim the 50-day SMA, the path of least resistance is down.

A speculative Sell/Short idea can be initiated, with the target set at R49.30 and stop loss at R55.64.

Telecommunications

Blu Label Unlimited Group Ltd. (BLU): Blu Label is in the virtual distribution of secure electronic tokens of value and transactional services.

The share price has bounced off support at the 2022 high, a level that has now flipped from former resistance into a solid floor. The recovery is gaining traction; the MACD has made a bullish crossover, signalling a shift in momentum, and the price has closed above the upper bound of the Bollinger Band (BB), a show of strength that often marks the start of a sustained move higher. As long as the 2022-high support holds, the setup favours further upside.

A potential Buy/Long idea can be initiated, with the target set at R9.85 and stop loss at R7.40.

US STOCKS

Information Technology

Riot Platforms, Inc. (RIOT): Riot is a Bitcoin mining company that offers special cryptocurrency mining computers.

The share price has been trading in a well-defined ascending channel. It recently pulled back to test the lower trendline of the channel, which coincided with the 200-day SMA. The test appears to have held, and the relative strength index (RSI) has crossed back above the oversold region, suggesting selling pressure is fading and buyers are stepping in. As long as the channel's lower trendline and the 200-day SMA continue to hold, the uptrend remains intact, and a move back toward the upper bound of the channel is favoured.

A potential Buy/Long idea can be initiated with the target set at $30.54 and the stop loss at $16.32.

Information Technology

Seagate Technology Holdings Plc (STX): Seagate Technology is in the development, production, and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, storage subsystems and computing solutions.

The share price has formed a head-and-shoulders pattern, a classic trend-reversal formation. The pattern was confirmed with a close below the neckline at $800, turning that level into overhead resistance. Adding weight to the bearish case, the RSI made a bearish divergence as the pattern developed; price pushed to new highs at the head while momentum failed to follow, an early warning that the uptrend was losing steam. With the neckline broken and momentum rolling over, the risk is skewed to the downside; a retest of $800 that fails would offer further confirmation.

A speculative Sell/Short idea can be initiated, with the target set at $474.95 and stop loss at $949.62.

Communication Services

DoorDash, Inc. (DASH): DoorDash is in the design, development, and operation of a food delivery and logistics platform.

The share price has been trading in an ascending channel, but the latest test of the upper bound met resistance. The channel's upper trendline coincided with the 200-day SMA, a confluence that proved too strong for buyers to break. The rejection was reinforced by a bearish engulfing candlestick, a sign that sellers seized control at those levels. The MACD has since made a bearish crossunder, confirming that momentum has turned lower. From here, a pullback toward the lower bound of the channel is favoured; a break below it would signal a deeper correction.

A speculative Sell/Short idea can be initiated, with the target set at $164.76 and stop loss at $200.61.

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