South Africa 40 Cash Index
Technically speaking, we have had a bearish price reversal (circled blue) off of all-time high resistance and from overbought territory. While the price is dangerously close to breaking our stop level (a close above 83420), the reversal remains relevant for now and suggests 79340 to be the support target from the move.
Small cash adjustment expected
The South Africa 40 Cash Index is expected to adjust for a dividend in the underlying of 170,8 points on Tuesday, the 22nd of April 2025.
South Africa 40 Cash Index (Previous)
The rebound on the South Africa 40 Cash Index has taken the price back above the 79340-resistance level. The move above the 79340 level suggests the all-time high at 83420 to be the next resistance target.
The price whipsaw through the 200-day simple moving average (200MA) (blue line) suggests that we are in a broad range-bound trading environment rather than in a committed up or downtrend right now. As such, traders will look for reversals or breaks of levels for new opportunities in either direction.
When a new trade setup presents itself, we will update guidance according to targets and failure levels.
Small cash adjustment expected
The South Africa 40 Cash Index is expected to adjust for a dividend in the underlying of 36 points on Tuesday, the 14th of April 2025.