PSG the independent financial services group has PSG Wealth, PSG Asset management and PSG Insure under their umbrella. They have more than 200 offices in SA, 2 in Namibia and 1 in Mauritius. Their latest financial results for the year ending February 2018 reported a 7% rise in recurring earnings and their dividend for the year has risen by 11% to R4-15 per share. Their dividend yield is standing on 1.83%.

  • The share has reached the top part of the channel at line A (R228-90).
  • If the share manages to change line A into a support despite the overbought stochastic. The channel can take the share to R258 should the formation play out.
  • The 26 & 9 day moving averages confirm that the momentum to the top is still in place.
  • The spinning top candles implies uncertainty and that profit taking might easily be introduced along with the overbought stochastic indicator. Both these candles also represent a tweezer top which acts as a warning to investors.
  • There is a window waiting between R217-03 and R217.
  • For traders – Consider a short below line B (R224-21) but use line A (R228-90) as stop loss to protect capital. The possible targets towards the bottom are R222-68, R221-48, R220-63, R219-78, R218-74, R217-06 and R217.
  • For medium to long term investors – We will only feel comfortable about this share on a weekly graph when it manages to change the 40 week moving average (R234-62) into a support again.

Frans & Christelle de Klerk