Building strength ahead of a breakout

by , 23 April 2018
Building strength ahead of a breakout
The market has remained robust as Trump shifted most of his focus away from a potential trade war with China to Syria.

This helped the market bump higher as it tries to break above its 200-day moving average. The market remains in a bullish phase, while a sustained break above the 200-day moving average around 50,800 could see the market take another rally towards its 2018 high.

Long term investors should buy the dips until it breaks above this level.

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Last week’s movers and shakers… 

One to Buy
Mediclinic – Buy the Bounce
Mediclinic is expected to issue a trading statement on Thursday, which will invigorate investor sentiment after a 50% fall over the past two years.
It will be important to see what improvements have been made in the UAE after relaxation of regulation last year. Any hints of a significant turnaround in the near term will see the share start a long-term run higher.
Buy MEI below R102.50 for a move above R120.
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Short term Ideas 
  • MTN: Buy Below R117.50, target R124.50 and Stop Loss at R113.75
  • Sibanye – Stillwater: Long at R11.50, target remains at R13.50

Long Term Ideas      
  • Shoprite: Finding support, buy below R257.50 with a target of R285.
  • Anglo: Accumulate below R285
  • Sasol: Up over 5%, buy dips below R400
  • Aspen: Accumulate below R260.
  • Sygnia: Add below R12.50.
  • Santova:  Buy below R3.00.
  • Merafe: Accumulate below R1.55. Special Dividend on the cards.
  • Jubilee: Bottoming out. Hold.         
  • MTN: Buy Dips below R120.00.
  • Glencore: Diversified Commodity exposure. Hold
  • Wescoal: Long term buy. Add below R1.80
  • Naspers: Increase exposure below R3,000.

Building strength ahead of a breakout
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