South Africa 40 Cash Index update and cash adjustment notification
The bullish price reversal (circled black) just above the 58950-support level and from oversold territory, has yielded some strong gains for the South Africa 40 Cash Index.
Traders who are long might consider trailing their respective stops up to the 62030 mark, while targeting the next level of resistance at 63900.
Our preference is not to look for new long positions from current, but rather manage existing longs with a trailed stop or exit towards a 63900 limit (take profit).
We continue to consider the trading environment for the South Africa 40 Cash index to be rangebound. In turn, as the index moves higher towards range resistance and into overbought territory, we will start to look for signs of a bearish price reversal to once again consider new short positions.
Cash adjustment
Traders of the South Africa 40 Cash index will want to note that the index is set to adjust (on Tuesday the 13th September) for a dividend in the underlying, currently estimated at 208.6 points.
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
