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U.S. Jobless Claims Fall to 264K (expected 290K)
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The overall Johannesburg market could follow Assore in a technical upswing, with the 14-day RSI - a momentum indicator tracked by some chartists - showing the main indices are oversold and due for a bump.
Many of the stocks are in oversold territory based on technicals. RSI's and other momentum have broken lower today, in some cases significantly," said Lloyd Priestman, a market analyst at asset manager Caleo Capital.
"We should see some short-term support from these levels as medium to longer term investors look for buying opportunities, given the recent sell off, he said.
Almost 100 percent of investors think we’re at the start of a long recovery,” Edwards said. “It’s already a long recovery. Forget about starting from here.