JSE & NYSE Shares Analysis 6 - 10 July 2026
JSE SHARES
Basic Materials
South32 Ltd. (S32): South32 is a metal and mining company.
The share price found support at the 200-day simple moving average (SMA) and the lower Bollinger Band (BB) before turning higher. The move was confirmed by a bullish engulfing candlestick, with the moving average convergence divergence (MACD) bullish crossover reinforcing the positive momentum.
A potential Buy/Long idea can be initiated, with the target set at R54.96 and stop loss at R43.55.
Consumer Goods
Anheuser-Busch InBev SA/NV (ANH): AB InBev is a holding company that manufactures and distributes alcoholic and non-alcoholic beverages.
The share price has broken down from a rising wedge pattern, closing below the lower trendline at R1 337.50. This breakdown is supported by a bearish divergence on the MACD, indicating that upward momentum is fading.
A speculative Sell/Short idea can be initiated, with the target set at R1150.98 and stop loss at R1391.02.
Industrials
Grindrod Ltd. (GND): Grindrod is in the business of freight solutions.
A rising wedge pattern has formed while the BBs contract, signalling that a breakout with strong momentum is imminent in either direction. Given the wedge's bearish bias and the recent bearish engulfing candlestick, the risk appears skewed to the downside.
A speculative Sell/Short idea can be initiated, with the target set at R22.89 and stop loss at R27.63.
US STOCKS
Financials
Lemonade, Inc. (LMND): Lemonade is a holding company that offers insurance services.
A double bottom pattern has been confirmed by a break above the neckline around $72, with the price also trading above the 200-day SMA. The move above the upper BB reflects strong upward momentum.
A potential Buy/Long idea can be initiated with the target set at $96.70 and the stop loss at $66.76.
Industrials
Fluor Corp. (FLR): Fluor is in the business of engineering, procurement and construction (EPC), fabrication and modularisation, and project management services.
The share has been range-bound since December 2024. Price recently tested resistance but closed below it, and the MACD's bearish crossover suggests a move back down towards support in the $42 region.
A speculative Sell/Short idea can be initiated, with the target set at $43.53 and stop loss at $55.03.
Industrials
Flowserve Corp. (FLS): Flowserve is in the manufacturing and provision of aftermarket service for comprehensive flow control systems.
This is a classic trend continuation setup; the price has closed above the 50-day SMA while trading firmly above the 200-day SMA. A bullish MACD crossover appears imminent, adding to the positive outlook.
A potential Buy/Long idea can be initiated with the target set at $88.02 and the stop loss at $68.31.
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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