Micron Forecast Disappoints .... Bears still in control on JSE

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Derek  27 Sep 2019

Good Morning,

Micron stocks fall as forecast disappoints, earnings continue to plunge.
Stocks closed slightly lower as trade optimism sours, investors keep an eye on impeachment.

The S&P500 still closed below the EMA8 line and notice that FrontRunner is not interested in turning yet.

The Nikkei started its correction much later than the rest, but did so with a gap.

I showed the strong support of Disney yesterday. Mastercard has a similar support on which the price is consolidating.

Similarly for Abbott Laboratories. Shares are waiting for direction?

JSE Technical:
The Satrix40 made a bounce, but still closed below the EMA8 and trend lines. Notice that FrontRunner is not convinced either?

Prosus now has enough data to start showing the EMA8 line (Orange). The negative sentiment is visible as the close is also below the EMA8 line. While we are below the EMA8 line, Bears are in control.

You must have a great weekend.
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