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Don't rush in and buy just yet!

by , 01 April 2020
Don't rush in and buy just yet!
Today will mark the end of the worst quarter for SA shares, having suffered the global fall out of the coronavirus.

This is after years of under performance relative to global indices.

And even though it looks like you can go out and buy anything and hold on for certain profits we could still see more selling pressure.

The SA lock down could be extended, and small business owners and entrepreneurs will be accessing all reserves they have including their share portfolios.

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But it isn’t all bad news… We’re been here before!
 
Looking back at the previous 45 years of JSE data, you can see that a recovery can take anything from 18 months to three years.
 
 
 
Certain sectors will get worse, slowly build up a position
 
The banks and REITs are throwing lifelines to customers and more sectors will follow. This will impact revenue in the months ahead. Analysts should revise forward earnings forecasts substantially.
 
Add to that our latest downgrade by Moody’s and the potential for the Rand to weaken a little more and we could see another leg lower before the market bottoms.
 
Below are some of the most oversold shares on the market.
 
 
 
Kind Regards, 
 
Gavin McCarter,
Finova Capital, Wealth Manager 
 
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Don't rush in and buy just yet!
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