JSE STOCK PICKS

This week the JSE has all the signs of turning even though the markets are bearish. If one looks at the alsi chart a clear support can be seen at 23750 but there is a second support at 23000. Watch the momentum for the turn before trading this week.
We look to trade TBS & SBK long this week.

TBS:                              SBK:
Best Entry: 16900          Best entry: 10300
Stop loss: 16500            Stop loss: 9800

Target: 18000                Target: 11800

JSE STOCK PICKS

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Well what do we do this week? Is it a double dip or not? Big questions being asked by all, but somehow I don't think so. There is nowhere for everybody to place their cash , 0% interest rates all over the world does not help. SA on the other hand does offer a return so what better place to put your dosh in the event of a possible disaster than SA and other emerging markets, so I don't see the JSE taking as much strain as other markets around the world but it would take a knock none the less. This said I don't see a double dip just a blip in the slow recovery and lots of buying opportunities coming up. This week we buy ASA , AMS and AGL long. SBK is also a good buying opportunity at the moment as it pulled back on Friday. ASA has had reasonable results and is paying a good dividend next week , technically it is slightly oversold and although it could still go further due to the fundamentals it should turn up this week. AMS is heavily oversold on the techs and has started to turn back up. AMS is at the bottom of its trading range at this time as is AGL. Although SBK did not produce the expected results I see the pull back as a knee jerk reaction, this is still the best bank on the block and it will recover the pull back in share price very quickly.

ASA                                    AGL                                      AMS
Best entry: 12600                 Best Entry: 27400                  Best Entry: 67000
Stop Loss: 12000                 Stop Loss: 26500                 Stop Loss: 65000
Target: 13500                       Target: 31000                       Target: 75000

SBK:
Best Entry: 10400
Stop Loss: 9800
Target: 11600