South Africa 40 Cash Index renews upward momentum after consolidation
The South Africa 40 Cash Index continues its long-term uptrend after a period of consolidation, with technical indicators suggesting further upside potential
South Africa 40 Cash Index
The South Africa 40 Cash Index has muddled along since our last note although has now started to renew gains. Our guidance remains relatively unchanged in that the long term trend is up, and after a brief pullback from all-time high territory the index does look like its attempting to push higher in the short term. 84450 remains the initial upside resistance target, although traders might consider tightening their respective stop levels to a close below the 81850 level (80280 previously).
Large cash adjustment expected
The South Africa 40 Cash Index is expected to adjust for a dividend in the underlying of 301,8 points on Tuesday the 1st of April 2025.
South Africa 40 Cash Index - Previous
The South Africa 40 Cash Index confirmed the suggested upside breakout from our previous note, pushing to new high territory before pulling back to find support on what was previously resistance. The long term uptrend remains intact and break out traders might consider the pullback as the second opportunity for long entry.
84450 remains the projected target from the triangle pattern. Traders who find long entry might use a close below the 80280 level as a stop loss consideration.
Cash adjustment expected
The South Africa 40 Cash Index is expected to adjust for a dividend in the underlying of 138,9 points on Tuesday the 25th of March 2025.
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