JSE Top 40 Index: 4 Charts To Assess Reward-to-Risk

Research Notes 22 - 26 Sept > https://www.unum.capital/post/r2226sept

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The index trades 16% above it's 200-day SMA. Recent peaks occurred between 17% and 19%.

The index trades 37% above it's 200-week SMA. Furthest distance from the 200-week since April 2015.

Monthly chart - trading at the upper boundary of a multi-year channel.

Monthly Time Frame: 14-Month RSI at 81 (highest since 2008). This points to high demand however, also suggests the index nearing/at overbought conditions.

Lester Davids

Senior Investment Analyst: Unum Capital