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Bidvest Correction Is Not Complete YetFounded by entrepreneur Brian Joffe in South Africa in 1988, Bidvest Group Limited is a well known international trading, services and distribution company which first listed shares for sale on the Johannesburg Stock Exchange (JSE) in 1990. The group either owns or has significant holdings in about 300 companies, with a portfolio of assets that spans five continents and an employee complement of just over 141 000 people worldwide. Technicals I don't believe that the full correction has completed as yet and expect to see a 61.8% Fib retracement from the low before there will be another wave to the downside. This correction will likely end after 3 waves but the possibility of 5 does exist. Once the correction is complete, there are very large targets to the upside.
JSE:BVTShort
by Linton_White
$JSE-SOLJSE:SOL Published results today and they are looking good. FINANCIAL PERFORMANCE - Earnings per share up 112% to R23,92 - EBITDA up 10% to R27 billion - Core headline earnings per share up 18% to R21,45 - Normalised cash fixed costs contained to below inflation target - Dividend per share* R5,90 (3,6x CHEPS) * Our dividend policy is to pay dividends with a dividend cover on core headline earnings per share (CHEPS) Resistance is R42500, if it gets broken no resistance to 44500. This is short term view will see how market opens.
JSE:SOL
by ALSITRADER
A Look At The Bigger Picture For InvestecInvestec plc is an international, specialist bank and asset manager that provides a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa, and Australia as well as certain other countries. Investec plc is the controlling company of the majority of the group's non-Southern African operations. Technicals I have indicated the monthly structure in black and the weekly structure in pink. I expect the weekly structure to complete after either 3 or 5 waves to the downside and will be looking to trade the long from the end of both waves. Wave 5 of the weekly structure has a really good target and I will not miss the entry after a reversal confirmation.
JSE:INPLong
by Linton_White
Bullish Structure Formation With Big Targets!Hammerson PLC is an owner, manager and developer of retail destinations in Europe. Hammerson’s share portfolio includes investments in 23 prime shopping centres in the UK, Ireland and France, 18 convenient retail parks in the UK and 19 premium outlets across Europe. Hammerson is listed on the Johannesburg Stock Exchange (JSE). The Financial Surveillance Department of the South African Reserve Bank approved the secondary listing. This listing has been classified in the Secondary Listing as “domestic” for exchange control purposes. Hammerson believes that pursuing the secondary listing improves the depth and spread of the shareholder base of the Company, thereby improving liquidity and tradeability of its shares and ensuring the Company is accessing a wider pool of international capital. Technicals Looking at the bigger picture allows me to see where the price should be headed over the medium to long term and I trade based on lower time frame entries. Here we can see that a 5 wave structure has formed and it is of a bullish nature. This leads me to believe that we will see a break to the upside, eventually. There will be a period of consolidation once price reaches the top of the structure and I will look for confirmation of the break. Long entries are at a good level now to hold to the top.
JSE:HMNLong
by Linton_White