From my research notes this morning. For more research insights, including trade ideas, get in touch today.
Tuesday 14-November-2023, 06h30 JSE Tech vs Top 40 Index. The chart below is the JSE Technology Sector relative to the JSE Top 40 Index and as well as the ratio's distance vs it's 75-Day EMA and 200-Day SMA. Here, I highlight the technology (NPN, PRX) having traded in a year-to-date sideways range and testing the overhead resistance for the 5th time. As you may already know, persistent tests of a level may eventually lead to the level being breached. In this case, it would mean that the constituents will outperform the JSE Top 40 Index on a relative basis.
Tuesday 14-November-2023, 06h30 JSE Tech vs Top 40 Index. The chart below is the JSE Technology Sector relative to the JSE Top 40 Index and as well as the ratio's distance vs it's 75-Day EMA and 200-Day SMA. Here, I highlight the technology (NPN, PRX) having traded in a year-to-date sideways range and testing the overhead resistance for the 5th time. As you may already know, persistent tests of a level may eventually lead to the level being breached. In this case, it would mean that the constituents will outperform the JSE Top 40 Index on a relative basis.