Breakout Stocks of Week 27 @ JNB
NASDAQ was up last week (week 26) by 0.244% ending at 17,732.60 points after gaining 43.24 points during the week. Our system has detected some possible breakout stocks for the following week and these should be on your watchlist. These are the stocks that are bouncing up with good increase in volume and are likely to do good in short term. One of these stocks are Oceana Group Limited JNB:OCE. This stock has had a buy signal since May 31, 2024 when the price was $7,278.00 , but have so far fallen -1.28% to $7,185.00. Some other companies are on our watchlist to, among these are Tiger Brands Limited JNB:TBS Vukile Property Fund Limited JNB:VKE Transpaco Limited JNB:TPC and Sygnia Limited JNB:SYG which all got a breakout pattern emerging.
| Date | Company | Price | Change |
|---|---|---|---|
| Oceana Group Limited | $7,185.00 | $6,875.00 ( 2nd Jul 2024 ) | -4.31% |
| Tiger Brands Limited | $19,897.00 | $20,604.00 ( 2nd Jul 2024 ) | 3.55% |
| Vukile Property Fund Limited | $1,530.00 | $1,567.00 ( 2nd Jul 2024 ) | 2.42% |
| Transpaco Limited | $3,050.00 | $3,384.00 ( 2nd Jul 2024 ) | 10.95% |
| Sygnia Limited | $2,092.00 | $2,086.00 ( 2nd Jul 2024 ) | -0.287% |
The Oceana Group Limited stock price gained 0.91% on the last trading day (Friday, 28th Jun 2024), rising from $7,120.00 to $7,185.00. During the last trading day the stock fluctuated 2.35% from a day low at $7,035.00 to a day high of $7,200.00. The price has fallen in 6 of the last 10 days and is down by -4.52% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 118 thousand more shares were traded than the day before. In total, 137 thousand shares were bought and sold for approximately $986.48 million.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
The Tiger Brands Limited stock price gained 1.52% on the last trading day (Friday, 28th Jun 2024), rising from $19,600.00 to $19,897.00. During the last trading day the stock fluctuated 2.60% from a day low at $19,524.00 to a day high of $20,032.00. The price has been going up and down for this period, and there has been a 0.35% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 166 thousand more shares were traded than the day before. In total, 555 thousand shares were bought and sold for approximately $11.05 billion.
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Tiger Brands Limited stock to perform well in the short-term period.
The Vukile Property Fund Limited stock price gained 0.724% on the last trading day (Friday, 28th Jun 2024), rising from $1,519.00 to $1,530.00. During the last trading day the stock fluctuated 2.62% from a day low at $1,491.00 to a day high of $1,530.00. The price has been going up and down for this period, and there has been a 2.96% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $6.72 billion.
Vukile Property Fund Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
The Transpaco Limited stock price gained 1.63% on the last trading day (Friday, 28th Jun 2024), rising from $3,001.00 to $3,050.00. During the last trading day the stock fluctuated 0.0328% from a day low at $3,050.00 to a day high of $3,051.00. The price has been going up and down for this period, and there has been a -4% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 6 thousand shares were bought and sold for approximately $17.68 million.
Transpaco Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
No changes to the price of Sygnia Limited stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 4.02% from a day low at $2,013.00 to a day high of $2,094.00. The price has risen in 5 of the last 10 days and is up by 0.24% over the past 2 weeks.
The Sygnia Limited stock holds several negative signals and despite the positive trend, we believe Sygnia Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Despite these candidates are looking good from a technical perspective they may not perform as expected. You should always be cautious when trading and base your decisions on more than one source of information. This does not constitute an offer or recommendation to buy or sell securities.
