Nasdaq at 6-month high .... JSE remains strong

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Derek  23 Apr 2019

Good Morning,
I hope you all had a great weekend?

International:
The Nasdaq closed at a 6-month high ahead of big-name earnings.

Notice how the low of the day touched the EMA8 (Orange) line. The NASDAQ is slowly moving out of an overall overbought situation.



Advance Micro Devices has been building a launching platform for the past 9 days and touched it 7 times.



Jacobs Engineering Group broke my resistance line to move towards the top resistance.



JSE Technical:
After some profit taking, the JSE closed strong before the long weekend. The JSE was closed yesterday.

After making a double bottom, Dis-Chem Pharmacies had no stop and broke the one resistance after the other. Notice how the 50 day moving average (blue line) is turning up and the trend factor is moving towards positive territory.



Clicks Group lagged the other reatail shares, but is catching up fast. It was the strongest mover on Thursday.



Some of the medical stocks are starting to make strong moves. I zoomed out a bit to show how poor Mediclinic International performed in the past. It is however now attempting to break a long term resistance.



Enjoy your day.
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