Rally for the Resi

And Shoprite is best de­fen­sive stock

Finweek English Edition - - Creating Wealth - COLIN ABRAMS

WE UP­DATE THE CHART of the JSE Re­sources 20 in­dex (Resi), which has been dec­i­mated over re­cent weeks and months. The JSE All-share in­dex will be un­able to rally without re­sources stocks join­ing in, so this chart is al­ways cru­cially im­por­tant. We also look at an un­re­lated stock – Shoprite – which was the strong­est stock in the Top 40 in­dex over the past three months. The Resi 20’s chart is point­ing to a good (but tem­po­rary) re­lief rally to start at any time. Mean­while, Shoprite is the most de­fen­sive in­dex stock on the JSE and should be held in all port­fo­lios.

Please note: For more charts by the au­thor on shares, in­dices and com­modi­ties please go to www. the­mar­ket.co.za.

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