Let’s start off with the declaimer – I’m South African and I might just be bias. If you would ask me to buy one #ETF and one ONLY, this will be my recovery ETF. Is it still a country full of challenges? YES! Could it face further downgrades? MAYBE! Do South Africa know how to fix the problem and have the “management” to do it? YES!
Watch $55.30 as a first possible breakout point, with the $58.40 being next resistance level. 50-day Moving Average also getting mighty close to the 200-day, with a break bring that Golden Cross.
Fundamentally, according to Thomson Reuters consensus forecasts, analysts see growth of 17.1% from current levels on the FTSE/JSE Top40 Index (in locally currency). My personal view is that the Rand/USD should be better priced around the R12.78/USD over the next 12 months. Should that happen, we could be looking at a possible capital gain of 8.32% (in USD) on the
EZA, corresponding nicely with the close to $58.40 levels. Should the $ZAR only improve to R13.50/USD (and consensus are spot-on), then we could be looking at a target price of $60.85 over the next 12 months.
On the downside, watch $53.08 as first resistance point, with $51.50 as next possible stop.
Watch $55.30 as a first possible breakout point, with the $58.40 being next resistance level. 50-day Moving Average also getting mighty close to the 200-day, with a break bring that Golden Cross.
Fundamentally, according to Thomson Reuters consensus forecasts, analysts see growth of 17.1% from current levels on the FTSE/JSE Top40 Index (in locally currency). My personal view is that the Rand/USD should be better priced around the R12.78/USD over the next 12 months. Should that happen, we could be looking at a possible capital gain of 8.32% (in USD) on the
EZA, corresponding nicely with the close to $58.40 levels. Should the $ZAR only improve to R13.50/USD (and consensus are spot-on), then we could be looking at a target price of $60.85 over the next 12 months. On the downside, watch $53.08 as first resistance point, with $51.50 as next possible stop.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.