Publications
Partners
Johannesburg - The JSE All Share [JSE:J203] index is now 4% down from the beginning of the year and market sentiment has clearly changed.
The fact that the index has underperformed its 200-day moving average for the second week is a technical indicator that long-term investor sentiment has turned negative.
Shares in the index are oversold and a speculative short-term run could be on the horizon.
BHP Billiton [JSE:BIL]
One can see an attractive declining channel for speculators on the daily graph of the Billiton share price.
The trading band is between R250 (a possible double low) and R270.
A speculative buy could be considered close to R250, with R242 being used as a stop-loss to protect capital.
Medium-term investors should rather buy the share closer to the R230 level on a longer-term view.
Long-term investors should note that the Top 20 commodity index shows that the trend is still downwards.
Reinet Investments [JSE:REI]
The lower highs on the Reinet share price daily graph confirms the counter’s struggle to regain the R12.75 level.
A support line is being breached downwards, sending technical signals of possible profit-taking.
If the share price falls below R12.40, the counter could drop to R12.22 and R11.95.
As long as the share price remains below the support line, the share is not offering a speculative buying opportunity, but rather one for profit-taking.
- Sake24
For business news in Afrikaans, go to Sake24.com.
The fact that the index has underperformed its 200-day moving average for the second week is a technical indicator that long-term investor sentiment has turned negative.
Shares in the index are oversold and a speculative short-term run could be on the horizon.
BHP Billiton [JSE:BIL]
One can see an attractive declining channel for speculators on the daily graph of the Billiton share price.
The trading band is between R250 (a possible double low) and R270.
A speculative buy could be considered close to R250, with R242 being used as a stop-loss to protect capital.
Medium-term investors should rather buy the share closer to the R230 level on a longer-term view.
Long-term investors should note that the Top 20 commodity index shows that the trend is still downwards.
Reinet Investments [JSE:REI]
The lower highs on the Reinet share price daily graph confirms the counter’s struggle to regain the R12.75 level.
A support line is being breached downwards, sending technical signals of possible profit-taking.
If the share price falls below R12.40, the counter could drop to R12.22 and R11.95.
As long as the share price remains below the support line, the share is not offering a speculative buying opportunity, but rather one for profit-taking.
- Sake24
For business news in Afrikaans, go to Sake24.com.
