South Africa 40 Cash index price retesting all-time high resistance
The South Africa 40 Cash index has formed a reversal off all-time high resistance. Markets should note today's expected cash adjustment due to dividend payments in the underlying.
South Africa 40 Cash Index
Technically speaking we have had a bearish price reversal (circled blue) off of all time high resistance and from overbought territory. While the price is dangerously close to breaking our stop level (a close above 83420), the reversal remains relevant for now and suggests 79340 to be the support target from the move.
Small cash adjustment expected
The South Africa 40 Cash Index is expected to adjust for a dividend in the underlying of 170,8 points on Tuesday the 22nd of April 2025.
South Africa 40 Cash Index (previous)
The rebound on the South Africa 40 Cash Index has taken the price back above the 79340-resistance level. The move above the 79340 level suggests the all-time high at 83420 to be the next resistance target.
The price whipsaw through the 200-day simple moving average (200MA) (blue line) suggests that we are in a broad range bound trading environment rather than in a committed up or downtrend right now. As such, traders will look for reversals or breaks of levels for new opportunities in either direction.
When a new trade setup presents itself, we will update guidance according with targets and failure levels.
Small cash adjustment expected
The South Africa 40 Cash Index is expected to adjust for a dividend in the underlying of 36 points on Tuesday the 14th of April 2025.
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
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