Breakouts: 31 May 2023

Charts on the JSE are painting a grim picture...many negative breakouts few positive.

Breakouts: 31 May 2023

JSE:FSR (First Rand)

Negative break. Descending triangle break. Trending down. Next stop 5731.

JSE:WHL (Woolies)

Negative break from a head and shoulders pattern. Recent death cross. Lots of evidence pointing to more negative price movements.

JSE:SHP (Shoprite)

Negative break from a big top pattern.

JSE:BAT (Brait)

Negative break. Trending down.

JSE:CLS (Clicks)

Negative break. Both moving averages pointing down. Series of lower highs and lower lows. Next stop 21900.


Negative break. Trending down.

JSE:PPH (Pepkor)

Negative break. Continues to trend down.

JSE:NRP (Nepi Rockcastle)

Positive break. Trending up.

US:SE (Sea Limited)

Negative break. Lower low. Next stop $41.