XML FeedsThe JSE has seen some strong moves up
While the local equity market remains in a bear trend, technical analysts are looking for possible continuing upside. With very little consensus as to the direction of the markets, it is highly probable that various indices give so called false breakouts. For longer term investors with capital to invest and looking to accumulate values are attractive.
The industrial index is up 17% from its 9 March low.
JSE Industrial 25 index
The financial index is up by some 30% from its low on the 9 March. This major percentage bounce up give a clear indication of the volatility in prices.
A few examples of shares that have seen big moves up from recent lows include:
o Standard Bank made a low of R60 and is up at R86 – up 43% from its low.
o Implats closed at 11859 at the end of February – it is up 37% to its current R163.
o The JSE stock closed at R28 at the end of February. It is up 31% to R50.
These are extremely high gains in a short period of time. There are some indications that the down trend is being broken, but at this stage we still think that this is going to be a sideways trading market. This is fantastic for longer term accumulators of real assets
Have a fantastic weekend
Kind regards
Ian de Lange
info@seedinvestments.co.za
www.seedinvestments.co.za
021 9144 966
Comments, Trackbacks:
No Comments/Trackbacks for this post yet...
Leave a comment: