SUMMARY | Position: LONG | Upside target: R155.00 | Reward / risk ratio: – | Recommended stop-loss: R133.00 | RECOMMENDATION: BUY
Investec is an international specialist bank that provides a range of financial products and services to a niche client base in the United Kingdom (UK) and South Africa. The company is dual-listed on the Johannesburg and London Stock Exchanges. Investec trades at a substantial discount to its peers even when accounting for the UK business.
Technically, historical seasonal strength from October to January makes the stock an attractive investment opportunity (see the insert on the main chart). The price in the Markup phase of the Wyckoff Price Cycle supports a bullish stance. This phase follows an Accumulation phase, where smart money accumulates assets at lower prices, setting the stage for a price breakout.
The Relative Strength Index highlights that the stock will be …
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