JSE & NYSE Shares Analysis 24 - 27 February
JSE SHARES
Financials
Emira Property Fund Ltd (EMI): Emira is a real estate investment trust (REITs), which engages in a major portfolio of investment properties in South Africa together with offshore investments into the USA.
A triple bottom pattern is developing and will be confirmed with a decisive close above the neckline at R13.83. The price has also closed above the upper bollinger band (BB), signalling strong upward momentum. As additional confirmation, the moving average convergence divergence (MACD) has completed a bullish crossover, reinforcing the positive outlook.
A potential Buy/Long idea can be initiated once the price closes above the R13.83 level, with the target set at R14.63 and stop loss at R13.34.
Basic Materials
Northam Platinum Holdings Ltd (NPH): Northam is in the business of mining platinum and other minerals. Its products include platinum, palladium, and rhodium.
The price has tested the 50-day simple moving average (SMA) and successfully closed above it, signalling potential bullish continuation. With the share still trading above the 200-day SMA, the broader uptrend remains intact. In addition, the MACD is poised for a bullish crossover, suggesting that upward momentum may soon strengthen.
A speculative Sell/Short idea can be initiated, with the target set at R503.10 and the stop loss set at R331.77.
Financials
PSG Financial Services Ltd (KST): PSG is in the business of financial services. It operates through the following segments: PSG Wealth, PSG Asset Management, and PSG Insure.
A rising wedge pattern is unfolding, with confirmation dependent on a close below the lower trendline at R27.50. As additional confirmation, the MACD has turned bearish, signalling that upward momentum is fading and increasing the risk of downside pressure.
A speculative Sell/Short idea can be initiated once the price closes below R27.54, with the target set at R24.32 and stop loss at R28.83.
US STOCKS
Health Care
Medtronic Plc (MDT): Medtronic is a medical technology company that develops, manufactures, distributes, and sells device-based medical therapies and services.
The price tested the support zone around $96, coinciding with a touch of the lower Bollinger Band (BB), before rebounding higher. It is now trading above the 200-day simple moving average (SMA), reinforcing the broader bullish trend. Adding to the constructive outlook, the moving average convergence divergence (MACD) is poised for a bullish crossover, suggesting that upward momentum may be building.
A potential Buy/Long idea can be initiated, with the target set at $104.78 and the stop loss set at $95.04.
Consumer Discretionary
Marriott International Inc (MAR): Marriott operates and franchises hotel, residential, and timeshare properties.
The price briefly broke above the BB but has since moved back within the band range, signalling a loss of upward momentum. This pullback was reinforced by the formation of two consecutive bearish engulfing candlesticks, indicating increased selling pressure. In addition, the MACD has completed a bearish cross-under, confirming that downward momentum is building.
A speculative Sell/Short idea can be initiated, with the target set at $301.05 and the stop loss set at $371.14.
Health Care
Thermo Fisher Scientific Inc (TMO): Thermo offers a broad range of innovative products and services to customers working in pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions and government agencies.
The price has simultaneously tested the 200-day SMA and the support zone around $500, holding firm at this confluence level. In addition, the relative strength index (RSI) has crossed back above oversold territory, indicating that selling pressure is easing and upward momentum may be starting to build.
A potential Buy/Long idea can be initiated, with the target set at $600.86 and the stop loss set at $475.47.
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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