JSE & NYSE Shares Analysis

JSE SHARES

Afrimat Ltd (AFT) | Mining:

Afrimat Ltd. is in the business of open pit mining, processing, and supplying of industrial minerals and materials. It operates the following through construction materials, industrial minerals, bulk commodities, future materials and metals.

The share price is currently trading at R61.19 and has been in an ascending channel. The price has tested the top of the channel at the R66.00 region and retraced. The MACD has a bearish divergence unfolding, showing weakening momentum to the upside.

A Short/Sell idea can be initiated with a stop loss set at R65.52 and the target set at R54.86.

British American Tobacco plc (BTI) | Consumer Non-Durables:

British American Tobacco plc is a holding company, which IS in the manufacture and distribution of tobacco products. Its brands include Kent, Dunhill, Lucky Strike and Pall Mall. It operates in the United States, Asia-Pacific and Middle East, Americas, Sub-Saharan Africa, Europe and North Africa (ENA).

The weekend of 18 December we published a long position on the share price. The share price is still intact in the descending channel, it has reached the top of the channel at regions of R595.00. As a confluence of confirmation, the price has tested the 200-day SMA and closed below and the MACD is yet to confirm a bearish crossunder signal. 

A potential Sell/Short can be initiated with stop loss set at R608.13 and target is set at R542.19.

Naspers Ltd. (NPN) | Technology Services:

Naspers Ltd. operates as an Internet and media group. It is in the business of Ecommerce, Media, Corporate Social and Internet Platforms.

On the week of 20-24 November 2024 we published a sell/short idea that reached its target. The share price has been consolidating since January 2023 till recently it gapped lower than the range by 17% due to the Chinese tech regulations impacting Tencent. The share price quickly regained ground closing the gap and back into the range and reached the up bound of the range at region of R3500.00.The share price is currently trading at R3563.45. Momentum to the downside has not been confirmed, the MACD is yet to give a bearish signal to confirm the move to the downside.

This presents another opportunity to sell/short with a target set at R3208.03 and stop loss is set at R3563.45. 

US STOCKS

Abbott Laboratories (ABT) | Health Technology:  

Abbott Laboratories is in the business of discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates in pharmaceutical products, diagnostic products, nutritional products and medical devices.

The share price is currently trading at $111.81. The price has tested the resistance level at $114.55, it has recently tested the resistance twice before in January and July 2023 and the share would make the move down. The RSI has been in overbought territory when price tests the resistance level.

A Short/Sell idea can be initiated with a stop loss set at $117.17. and the target set at $103.70.

Caterpillar Inc (CAT) | Producer Manufacturing:

Caterpillar, Inc. is in the business of manufacturing and construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives.

The share price has reached an all time high of $334.87 the previous week and it has been steadily respecting the ascending channel. The RSI just crossunder the overbought territory, signalling a weakened momentum to the upside.

A potential Sell/Short can be initiated with stop loss set at $343.35 and a target is set at $277.47

JPMorgan Chase & Co (JPM) | Finance:  

JPMorgan Chase & Co. is a financial holding company, which is in the business of providing financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.

The share price has reached a new high of $178.30 the previous week. The share price has been in an ascending channel. The RSI has created a bearish divergence2, signalling weakend upward momentum. Please take note the share price is trading above the 200-day SMA,bulls are still in charge of the trend.  

A potential Sell/Short can be initiated with stop loss set at $180.99 and a target is set at $162.92 

Disclaimer:

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