SUI is trading in a clear upward channel and currently the price is trading near the bottom of the range or area of support. One can look to go long any price below 39.00 with minor resistance at around 43 - 43.20 initially. Stop loss is a close below 36.70
Sun International has been a roller coaster of a ride.
Been swinging between R38.00 and R42,50.
Well, lately we've seen higher lows, and the price keeps touching the top.
It's like hitting thin ice. Eventually it'll break up and out.
So, let's see what it does.
UPDATE:
Over the past year, the most notable insider purchase was made by CEO & Executive...
Similar to the previous analysis with City Lodge I just did, Hospitality, Hotels and entertainment sectors are showing strong upside to come.
Whether it's because of the strong earnings, pause of interest rates, more foreign investments with the weakening dollar - Who knows.
But the charts, are showing upside to come.
We have the Cup and Handle formation, a...
Sun International (SUI) is a casino and hotel operator with interests in South Africa, Chile, Peru and recently, Argentina. The depressed economy in South Africa impacted on the performance of South African casinos and hotels even before COVID-19. The company increased its stake in Sun Dreams in Peru by 10% to 65%. It also bought a hotel and casino in Argentina...
SUI has pulled back nicely into what looks like a strong buy zone (32-34)
Price is supported by both horizontal and TL support lines. A move above 34.50 would add conviction to buy with a stop-loss on a close below 30.
Inverse Cup and Handle has formed for this stock since 17 March 2023.
The price breakdown took place on 23 June 2023.
Momentum is showing downside to come with the next support to R28.00
Price<200 21>7
RSI <50 lower highs
Target R27.38
ABOUT THE COMPANY
Sun International is a South African-based company primarily involved in the gaming and hospitality...
A price action below 4190 supports a bearish trend direction.
Increase short exposure for a break below 4120.
The target price is set at 3970.
The stop-loss price is set at 4310. Negate also the bearish stance for a break above this level.
Corrected from overbought territory recently.
If the angle of the trend is too steep, it means that the price is increasing or...
JSE:SUI came out with excellent results last week. Price action is encouraging, however, the general market is weak. A long trade can be taken with caution. Breakouts tend to fail in weak markets.
A bullish trend is applicable.
The ideal long entry is around 3240.
Increase exposure for a break above 3520.
The target price is set at 3730.
The stop-loss price is set at 3170.
A bullish MACD crossover occurred, supporting the change in trend direction.
SUI is breaking down from a 60day box below the R34,00 mark
However there is major support at R31.60 that could cause this breakdown box to become a possible fakeout,
The stock has been in a stage of distribution with the main area of resistance level being R36.85
The sell off yesterday was also done on large volume .. A pullback to 200dma is possible here.
"JSE-listed hotel and resort group Sun International is anticipating that its Sun City resort will have one of its best years ever in terms of operating cash flow in the current financial year following the disruption caused by the Covid-19 pandemic." - Moneyweb - 13 Oct 2022
Potential buy/long. Looking for confirmation via candle strong structure.
- Bullish...
Price has reached previous target and now we looking for a short on JSESUI for a move back towards the 200dma
Ocscillators overbought
TP and SL on the chart
A price action above 2920 supports a bullish trend direction.
Crossing below this level will negate the bullish stance.
Further bullish trend support above 3080.
Consolidation range from 2980 to 3120.
Crossing above 3120 might support the price action to target 3320.
Crossing below 2980 will be the first sign of pending weakness.
JSE:SUI interim results show improving fundamentals. The Group revenue grew by 37% and basic EPS up > 100% (94 cents), and the company declared a gross interim dividend of 88 cents.
Technically, the stock has been finding support in a rising MA, but kept short of breaking above R32/share. Hopefully these results will help push the price to a new 52 week high,...
