Taking Stock: Early February 2021
Pick of the stocks this week is telkom. Chart looks incredible. Otherwise markets seem to be on the up all round. Except for palladium and dollar index.
![Taking Stock: Early February 2021](/content/images/size/w1200/2021/02/EQU.ZA.TKG.png)
Market Mood
FOREX:USDZAR (USDZAR)
![](https://stockpicks.co.za/content/images/2021/02/Screen-Shot-2021-02-07-at-15.16.55.png)
Well and truly trending down. Looking highly likely that the next stop is 14.50.
INDX:DXY (Dollar Index)
![](https://stockpicks.co.za/content/images/2021/02/Screen-Shot-2021-02-07-at-15.20.41.png)
Weekly chart here. The dollar is showing a double top and trending down. Both moving averages are pointing down. Might be KO for king dollar but as always be careful forex and commodities can turn on a dime.
FOREX:EURZAR (EURZAR)
![](https://stockpicks.co.za/content/images/2021/02/Screen-Shot-2021-02-07-at-15.23.13.png)
On the weekly chart. Trending up. Would only worry below 17. Similar story with FOREX:GBPZAR below 19.
CC:BTC-USD (Bitcoin)
![](https://stockpicks.co.za/content/images/2021/02/Screen-Shot-2021-02-07-at-15.25.37.png)
On the daily. Still struggling to break above 40700.
COMM:CL (Crude Oil)
![](https://stockpicks.co.za/content/images/2021/02/Screen-Shot-2021-02-07-at-15.27.01.png)
Daily chart, well on the way up.Broke through resistance and looking to continue.
COMM:GC (Gold)
![](https://stockpicks.co.za/content/images/2021/02/Screen-Shot-2021-02-07-at-15.28.25.png)
Only below 1777 should we worry. Still holding well.If it breaks up which I think it will - be ready!
COMM:PL (Platinum)
![](https://stockpicks.co.za/content/images/2021/02/Screen-Shot-2021-02-07-at-15.29.42.png)
Trending up. Cup and handle break recently. Very good.I will be looking to add.
COMM:PA (Palladium)
![](https://stockpicks.co.za/content/images/2021/02/Screen-Shot-2021-02-07-at-15.31.52.png)
Losing steam. In danger of rolling over indicated by moving averages now pointing down.
INDX:DJT (Dow Jones Transport Average)
![](https://stockpicks.co.za/content/images/2021/02/Screen-Shot-2021-02-07-at-15.33.36.png)
Whipsaw break below the trendline. Below 12000 is bad news. It is just giving us a warning for now.
INDX:GSPC (SP500)
![](https://stockpicks.co.za/content/images/2021/02/Screen-Shot-2021-02-07-at-15.35.58.png)
Trending up.
INDX:JTOPI (JSE Top40 Index)
![](https://stockpicks.co.za/content/images/2021/02/Screen-Shot-2021-02-07-at-15.36.59.png)
Well and truly in the upward trajectory.
JSE Stocks
JSE:SBK (Standard Bank)
![](https://stockpicks.co.za/content/images/2021/02/Screen-Shot-2021-02-07-at-15.38.42.png)
Sorry 2 incorrect highs - from data provider. However the cup and handle has broken and as long as the rand is strong against the dollar this stock strength looks to continue.
JSE:CCO (Capital and Counties)
![](https://stockpicks.co.za/content/images/2021/02/Screen-Shot-2021-02-07-at-15.40.31.png)
Golden cross incoming. We need a bot more evidence but the bottom might have just been locked in.
JSE:TKG (Telkom)
![](https://stockpicks.co.za/content/images/2021/02/Screen-Shot-2021-02-07-at-15.41.59.png)
You know...yeah you know what good looks like.
JSE:STXFIN (Satrix FINI)
![](https://stockpicks.co.za/content/images/2021/02/Screen-Shot-2021-02-07-at-15.43.16.png)
Dependent on USDZAR but this perpetual loser is now looking OK.
JSE:KAP (KAP)
![](https://stockpicks.co.za/content/images/2021/02/Screen-Shot-2021-02-07-at-15.44.44.png)
Looking excellent. Planned to buy but never triggered my entry - sometimes you just got to override and pull the trigger on the buy.
JSE:ABG (Absa)
![](https://stockpicks.co.za/content/images/2021/02/Screen-Shot-2021-02-07-at-15.46.32.png)
Same old story for many other financials...good. For now.
US Stocks
US:SHOP (Shopify)
![](https://stockpicks.co.za/content/images/2021/02/Screen-Shot-2021-02-07-at-15.48.03.png)
Break to a new high. The 200MA is looking a straight line to the sky.
US:EZA (iShares South Africa ETF)
![](https://stockpicks.co.za/content/images/2021/02/Screen-Shot-2021-02-07-at-15.49.47.png)
Looking from a US perspective - South Africa ETF not looking half bad.
US:RDFN (Redfin)
![](https://stockpicks.co.za/content/images/2021/02/Screen-Shot-2021-02-07-at-15.51.39.png)
New high locked in.
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