South Africa 40 Cash Index price reversal forming in overbought territory
The South Africa 40 Cash Index is expected to adjust for a dividend in the underlying of 44,7 points on Tuesday the 10th of December 2024.
South Africa 40 Cash Index
The South Africa 40 Cash Index has made a good attempt at the 80075 target following the break above the 77050 level. The price has however started to form a bearish price reversal from overbought territory (blue circles). The overbought and reversal signals suggest that traders who have been long into the push higher, might look to exit their respective long trades at current levels.
The long-term trend for the index remains up, as such we continue to prefer looking for long positions into short term corrections of this trend.
Cash adjustment expected
The South Africa 40 Cash Index is expected to adjust for a dividend in the underlying of 44,7 points on Tuesday the 10th of December 2024.
South Africa 40 Cash Index
The South Africa 40 Cash Index has now produced a bullish price reversal and closed above the 77050-resistance level. The reversal suggests a short-term range trade within the longer term uptrend still in place. The strong close suggests 80075 as the next resistance target from the move. Traders who are long might consider using a close below the 75830 level as a stop loss indication.
Cash adjustment expected
The South Africa 40 Cash Index is expected to adjust for a dividend in the underlying of 29 points on Tuesday the 3rd of December 2024.
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.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only
