And that brings Feb19 to an end. Two down, ten to go!
J200
($JTopi) having a great start to the year - up 6.92% YTD. Top performer is still Investec Ltd, at 15.9% YTD. Question remain - time to take some profit or does it still have some legs?
Analysts still forecasts Investec to be in the region of R112 over the next 12 months and with the planned unbundling of the Asset Management division into a separate listed company, I personally still believe there will be some value unlocking.
Looking at the long-term monthly graph, I believe that the trend is still very much it's friend currently. Next target looks like the 50-month moving average at R98. Should we see a breakout from the top of the wedge, R102.70 could very much be next stop, with R114.50 then becoming my next target.
Should the trend (not remain our friend and) turn, watch out for R83.22, with R78 then becoming a very critical resistance level.
J200
($JTopi) having a great start to the year - up 6.92% YTD. Top performer is still Investec Ltd, at 15.9% YTD. Question remain - time to take some profit or does it still have some legs? Analysts still forecasts Investec to be in the region of R112 over the next 12 months and with the planned unbundling of the Asset Management division into a separate listed company, I personally still believe there will be some value unlocking.
Looking at the long-term monthly graph, I believe that the trend is still very much it's friend currently. Next target looks like the 50-month moving average at R98. Should we see a breakout from the top of the wedge, R102.70 could very much be next stop, with R114.50 then becoming my next target.
Should the trend (not remain our friend and) turn, watch out for R83.22, with R78 then becoming a very critical resistance level.