BUY SA40SA40 has retraced by 4% from December high, we expect that it finds support between 7600-75000. We go long at 75700 with TP 78000-81500 over the next weeks. Stop Loss just below 74600
About South Africa Top 40 Index
The South Africa Top 40 Index (SA40) is a capitalization-weighted stock index that tracks the performance of the 40 largest companies listed on the Johannesburg Stock Exchange (giving the index its second name of JSE Top 40 Index). JSE is the largest stock exchange in Africa. Though the number of companies within the index is relatively small, together they represent over 80% of the JSE listed companies' market cap. As a result, the JSE Top 40 can give investors a pretty good idea of what's happening on the South African stock market.
SA40 Bullish Outlook Good morning,
The J200 looks bullish on the H1 chart, but it is within a consolidation area, so some caution regarding momentum behaviour is needed.
The price has two significant resistance levels: 77302 and one within a resistance zone at 78148.95.
There is also an ABC pattern that does not alig
LONG SA40SA40 has potentially found support as it has entered oversold territory and formed Higher Low point in a bullish channel. Buying at current 75600 will potentially yield 5000 points to 80000 and new all time high
Bearish moveJSE experienced resistance on the 77,000 barriers and stabilised under this mark. The index may find support on nearby barriers.
A lower high formationThe index may be en route to forming a new lower due to being pushed a bullish pullback!
JSE 200 next target up to 85,321 thanks to 3 Bullish signalsHigh Probability Analysis has lined up with the J200 (JSE Top 40)
We have three bullish confirmation signals including:
1. Up channel (Between the two ray trend lines)
2. Cup and Handle (Wait for break for complete confirmation)
3. Price>20 and 200MA
Target 85,321
Great for upside and buying
J200 Pre-Open Market Analysis [24 OCT 2024]THE GUIDELINE THEORY STRATEGY
How To Trade Support and Resistance
J200 Pre-Open Market Analysis [24 OCT 2024]Guideline Theory Study
How to trade using the support and resistance, risk management
Long order placed on ZA TOP40We have placed a long order on the TOP40 CFD based on the crossing of the MACD, Stochastic and EMA's. We will enter once it breaches the 75455 level.
Potential Short opportunity on TOP40Our momentum strategy indicators are all indicating a potential downward move on the TOP40 CFD. If this momentum continues, the trade will possibly be triggered tomorrow and we are looking at a target just below the 70000 level.
See all ideas
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
The current value of South Africa Top 40 Index is 75,888.87 ZAR — it has fallen by −0.04% in the past 24 hours. Track the index more closely on the South Africa Top 40 Index chart.
South Africa Top 40 Index reached its highest quote on Sep 30, 2024 — 79,718.94 ZAR. See more data on the South Africa Top 40 Index chart.
The lowest ever quote of South Africa Top 40 Index is 6,725.67 ZAR. It was reached on Apr 30, 2003. See more data on the South Africa Top 40 Index chart.
South Africa Top 40 Index value has decreased by −3.13% in the past week, since last month it has shown a −0.54% decrease, and over the year it's increased by 10.43%. Keep track of all changes on the South Africa Top 40 Index chart.
The champion of South Africa Top 40 Index is JSE:MRP — it's gained 95.74% over the year.
The weakest component of South Africa Top 40 Index is JSE:SOL — it's lost −54.46% over the year.
South Africa Top 40 Index is just a number that lets you track performance of the instruments comprising the index, so you can't invest in it directly. But you can buy South Africa Top 40 Index futures or funds or invest in its components.
The South Africa Top 40 Index is comprised of 41 instruments including JSE:BHG, JSE:ANH, JSE:PRX and others. See the full list of South Africa Top 40 Index components to find more opportunities.