Rally for the Resi
And Shoprite is best defensive stock
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.
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