JSE Banks vs JSE Top 40: The Most Overbought In 3 Years - Friday, 26 July 2024
- Lester Davids
- Jul 26, 2024
- 1 min read
Updated: Jul 29, 2024
Pre-Market
The Most Overbought In (Nearly) 3 Years
This is a ratio chart which shows the banks (equally weighted) relative to the JSE Top 40 Index.
The ratio has just entered an overbought range, which means that it can remain so over the short term, however, the rating (overbought) also means that the relative buy/long reward-to-risk (from a sector allocation weighting perspective) is unappealing.
Lester Davids
Analyst: Unum Capital
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