Breakouts: 17 November 2021

This edition of breakouts is made available for free for everyone. I look at Satrix40, Naspers, ARH, Prosus, Pick N Pay and Qualcomm

Breakouts: 17 November 2021
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JSE:STX40 (Satrix 40)

Higher high. Will the move be sustainable?

JSE:NPN (Naspers)

Positive breakout. Cup and handle pattern projecting to 305750.

JSE:ARH (Arb Holdings)

Negative break. Turns out when I highlighted this stock pick in October 2021 - that was the day it topped. A warning to be more careful with low volume and lesser known stocks.

JSE:PRX (Prosus)

Positive break. Similar to the move in Naspers but this has an inverse head and shoulders pattern. Projected target 157500.

JSE:PIK (Pick N Pay)

Negative breakout. Rising wedge. Not great price action but not the end of the world. One to keep an eye on if you are holding.

US:QCOM (Qualcomm Inc)

Positive break.