Sell-off all round

Both BHP Bil­li­ton and Ned­bank point­ing to more down­side

Finweek English Edition - - Communication & Technology - COLIN ABRAMS

THOUGH THE JSE (and other world mar­kets) has shown a re­lief rally, there are signs of an­other round of sell­ing to come. We look at a chart of JSE bell­wether BHP Bil­li­ton for its di­rec­tion (as well as that of the all-share in­dex). We also look at Ned­bank, which re­ported its re­sults last week. Both charts point to more down­side to come. In­deed, there are very few (if any) bullish charts right now – but that means more prof­its for short sell­ers, which is a lu­cra­tive strat­egy right now. Please note: For more charts by the au­thor on shares, in­dices and com­modi­ties please go to www. the­mar­ket.co.za.

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