Trading Updates

Trade Spotlight: Vodacom (VOD)

Vodacom slipped 0.71% lower on Wednesday after the share price closed below the lower support trend line of a narrow up channel. The share price has recently rallied to trade near the upper resistance trend line of a longer term and wider up channel. We expect the share price to pull back to retest the lower support trend line of this up channel. The bearish price action is confirmed by both the Stochastic and RSI indicators trading in overbought territory to suggest a correction soon. The long term trend, however, remains bullish as the share price is still trading far above both its 50 and 200 day moving averages

Source: PSG Wealth (www.psg.co.za)

Schalk Louw
As Portfolio Manager at PSG Wealth Old Oak and with over 20 years’ experience in the investment industry, Schalk has consistently delivered solid returns to his clients and has certainly become one of South Africa’s most well-known strategists. He started his career in 1994 at the stockbroking company, Huysamer Stals (later ABN Amro). He joined SMK Securities in 1997, (later became BoE Personal Stockbrokers) and was later appointed as director and branch manager. In 2001 he co-founded Contego Asset Management and managed the company as CEO up to March 2014, after which he joined PSG Wealth Old Oak. Schalk has also become a regular household name with investors, with his reports being published in many of the national press. He completed his MBA in 2008.

Leave a Reply