Become a premium client and receive trade insights on shares you like to trade.
As part of the premium service you will receive daily insights on the shares you trade from your Premium Client Manager.
Trade Insights
Trade insight example
Coronation Fund Managers Ltd
11 May 2015
Investor sentiment in Coronation has been evidently bearish after their trading statement on the 28th of April noted diluted HEPS would be between 5% and 15% lower for the half-year ended March 2014. The company has been guiding towards lower returns in challenging market conditions for some time and this is now clearly starting to show with previous HEPS for the financial year ending 30 September 2014. Since April’s statement, the share price has dropped almost 16% from open to close.
Traders may be tempted by off the support where the share price broke under the long-term diagonal support emanating from September 2013 (black diagonal line), having culminated in what looks like a false break or short squeeze with bulls driving the price upwards to finish positively by the close.
Volume was strong over the previous two days, and traders may be looking for another positive day today with a close above the previous Thursday’s bearish candle at 9000c for an indication of further upside. Caution should be exercised; you may want to avoid catching a falling knife, with the share price still trading well below its 200day moving average. Some may see the crossing of the 50day moving average over the 200day moving average; known to some as the death cross as an indication for further downside.
Sasol Ltd, 08/05/2015
Open an account now
You might be interested in...
-
CFDs
Leveraged trading with no stamp duty to pay and direct market access on shares trades
-
Low margins
Our margins are among the lowest in the CFD industry
-
Execution and pricing
Our technology is engineered for speed, stability and better prices
IG provides execution only services and enters into principal to principal transactions with its clients on IG’s prices. Such trades are not on exchange. Whilst IG is a regulated FSP (number 41393), CFDs with IG are not regulated by the FAIS Act and IG does not provide advisory or intermediary services.
Help and support
Get answers about your account or our services.
Call 010 500 8626
Or ask about opening an account on 010 500 8624 or newaccounts.za@ig.com.
We're here 24hrs a day from 9am Saturday to 11pm Friday.
