Breakouts: 07 May 2021

4 JSE shares and 2 commodities

Breakouts: 07 May 2021

JSE:KIO (Kumba Iron Ore)

Positive break for higher high. If we take that recent pattern as an inverse head and shoulders. Projecting it the target is 80k ZAC.

JSE:DGH (Distell)

Climbed the ladder back to pre March 2020 levels. The prior area of 13000 did not even give any resistance whatsoever.

JSE:PPH (Pepkor Holdings)

A series of higher highs and higher lows. Multiple cup and handle breaks. Both moving averages pointing up. Looking very good.

JSE:MIX (Mix Telematics)

A negative break putting price back into the sideways channel. 50MA pointing down. Not looking great.

COMM:GC (Gold)

Broke through it's first barrier, the cup and handle neckline at $1794. Now projecting the cup and handle target at $1900 it will need to break through the descending triangle resistance. Interesting times ahead.

COMM:KC (Coffee)

Positive break. Targeting next resistance are at $174. Not sure how to get exposure to this commodity locally.