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ProTrade's proprietary market scanner

by , 09 July 2019
ProTrade's proprietary market scanner
Our market scanner has highlighted several shares in overbought and oversold territory.

Below is extracted from our weekly data table. Our model scans most of the shares in the JSE All Share Index and measures their standard deviation using our proprietary methodology. We supplement the standard deviation with fundamental and technical analysis to come up with our investment ideas.

Sometimes stocks that are stuck in a downtrend pop up but there is no catalyst for a rebound so we look past it. Or we look to short overbought stocks with tight stop losses to ensure a continuation of the uptrend doesn't affect our performance too much.

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Trade ideas update
We’ve adjusted a number of the stop losses in our favour to lock in gains should the stocks pull back or rally against us.
Stocks like Telkom, BidCorp, Discovery, Naspers and EOH have done well for us and are consolidating a little.
We’d like to ensure we don’t give up any open gains as we could always re-enter at better levels.

The week ahead:
Local: Manufacturing: Production and sales (11/07)
Results Due: SNH (12/07)
Other Economic data releases of interest…
Tuesday: Fed Chair Powell Speaks, FOMC Member Bullard & Quarles Speaks (USA); Westpac Consumer Sentiment (AUS)
Wednesday: Fed Chair Powell Testifies, FOMC Meeting Minutes (USA); GDP, Manufacturing Production (UK); BOC Monetary Policy Report & Rate Statement (CAN)
Thursday: BOE Financial Stability Report (UK); ECB Monetary Policy Meeting Accounts (EU); Core CPI, Fed Chair Powell Testifies (USA); Business NZ Manufacturing Index (NZL); Trade Balance (CNY)
Friday: PPI (USA); MPC Member Vlieghe Speaks (UK)
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ProTrade's proprietary market scanner
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