Breakout Stocks of Week 13 @ JNB
NASDAQ was up last week (week 12) by 2.68% ending at 16,401.84 points after gaining 428.66 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 Bid Corporation Limited JNB:BID. This stock has had a buy signal since Mar 20, 2024 when the price was $45,685.00 , but have so far fallen -0.361% to $45,520.00. Some other companies are on our watchlist to, among these are Fairvest Limited JNB:FTB Hudaco Industries Limited JNB:HDC Hulamin Limited JNB:HLM and Sanlam Limited JNB:SLM which all got a breakout pattern emerging.
| Date | Company | Price | Week 13 |
|---|---|---|---|
| Bid Corporation Limited | $45,520.00 | $46,181.00 | 1.45% |
| Fairvest Limited | $365.00 | $368.00 | 0.82% |
| Hudaco Industries Limited | $15,877.00 | $15,850.00 | -0.170% |
| Hulamin Limited | $300.00 | $298.00 | -0.667% |
| Sanlam Limited | $6,986.00 | $6,939.00 | -0.673% |
The Bid Corporation Limited stock price fell by -0.361% on the last day (Friday, 22nd Mar 2024) from $45,685.00 to $45,520.00. During the last trading day the stock fluctuated 1.98% from a day low at $45,105.00 to a day high of $46,000.00. The price has fallen in 7 of the last 10 days and is down by -0.27% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 853 thousand shares were bought and sold for approximately $38.85 billion.
Bid Corporation Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
The Fairvest Limited stock price gained 0.551% on the last trading day (Friday, 22nd Mar 2024), rising from $363.00 to $365.00. During the last trading day the stock fluctuated 2.49% from a day low at $362.00 to a day high of $371.00. The price has risen in 5 of the last 10 days but is still down by -1.88% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 884 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $1.52 billion.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Fairvest Limited stock to perform well in the short-term.
The Hudaco Industries Limited stock price gained 0.487% on the last trading day (Friday, 22nd Mar 2024), rising from $15,800.00 to $15,877.00. During the last trading day the stock fluctuated 1.88% from a day low at $15,700.00 to a day high of $15,995.00. The price has been going up and down for this period, and there has been a -2.6% 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, 7 thousand shares were bought and sold for approximately $107.47 million.
Hudaco Industries 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 Hulamin Limited stock on the last trading day (Friday, 22nd Mar 2024). During the last trading day the stock fluctuated 2.74% from a day low at $292.00 to a day high of $300.00. The price has been going up and down for this period, and there has been a 1.69% gain for the last 2 weeks.
Hulamin 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 Sanlam Limited stock price gained 0.230% on the last trading day (Friday, 22nd Mar 2024), rising from $6,970.00 to $6,986.00. During the last trading day the stock fluctuated 1.94% from a day low at $6,945.00 to a day high of $7,080.00. The price has been going up and down for this period, and there has been a -2.97% loss for the last 2 weeks. Volume fell on the last day by -13 million shares and in total, 2 million shares were bought and sold for approximately $14.84 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Sanlam 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.
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.
