South Africa 40 Cash Index
The South Africa 40 Cash Index looks to have formed a bullish price reversal around the 84030-support level (previous high). The reversal suggests that a very brief pullback from all-time high territory may be over and that short term gains are now resuming in line with the longer-term uptrend still firmly in place.
Overhead resistance suggests an upside target of 87400, while traders who are long might consider using a close below the low at 83400 as a stop loss indication.
Cash Adjustment Expected
The South Africa 40 Cash Index is expected to adjust for a dividend in the underlying of around 54,3 points on Tuesday, the 13th of May 2025.
South Africa 40 Cash Index (Previous)
The South Africa 40 Cash Index has started to pull back from a new high and overbought territory.
Our preference remains that of looking for long entry into the first pullback from each new high. A pullback to one of the labelled support levels above the 78615 level might afford traders such an opportunity.
87400 provides a revised, longer-term upside target for the index. Aggressive traders who are already long from the break into new high territory might consider using a close below the 82670 support level as a stop loss indication.
No Cash Adjustment Expected
The South Africa 40 Cash Index is not expected to adjust for a dividend in the underlying on Tuesday, the 6th of May 2025.