Notable is a page dedicated to fast-paced, running research commentary intended to alert to client to a potentially significant level or development, mainly from a technical perspective. Furthermore, the content gives clients access to the analyst's perspective of an instrument which can help in preparing for a potential trading opportunity.
The research insights below represent my views thus far today. Additional insights may be added where applicable.
To trade, or open a new account, contact the Unum Capital Trading Desk:
E-mail: tradingdesk@unum.co.za | Call: 011 384 2923
Lester Davids
Analyst: Unum Capital
For an enlarged view, click on the arrows in the top right corner of the image.
Monday 22-January-2024, 15h13 | Trade Alert: Synopsys (SNPS)
Monday 22-January-2024, 06h30 | These are some of the strongest stocks | BID, NTC, RNI, VKE
Monday 22-January-2024, 06h30 | Outsurance Group (OUT) | The share has been in a gradual upward trend, with a multi-month consolidation at/near 52-week/all-time highs. The price action and specifically the candle structure has been negative however has started to show (very) early signs of improvement. Two additional positives to note: (1) the price testing it's downward trend line - this may continue for a short period before an eventual reclaim (2) the 14-day RSI clearing it's downward trend which extends back to 14 November. Positive momentum above 4320c opens up the 4850c range as a medium term target. The potential price path is shown on the chart.
Monday 22-January-2024, 06h30 | Richemont (CFR) - UPDATE | The lower boundary of the channel held with a reversal and subsequent strong reaction to earnings (+10% on Thursday). The share is now trading at the top of the range. Well done to those who bought around R2200 (now trading +R2566).
Monday 22-January-2024, 06h30 | BHP Group (BHG) | The daily chart reflects an 'inside bar' candle formation, within an high bearish momentum/approaching oversold range. This print is within the provisional buy range of R560 to R575. Further positive candle structure in the form of an ultra short term sideways range would support a near term 'rebound'.
Monday 22-January-2024, 06h30 | Technical Summary as of Friday''s close.
Monday 22 January 2024, 06h30 | JSE Relative Sector Ratings as of Friday's close.
Monday 22 January 2024, 06h30 | Key Market Regimes
Monday 22-January-2024, 06h30 | Offshore Setups: Berkshire Hathaway (BRK.B) / Adobe (ABDE) / Roper Technologies (ROP) / Snowflake (SNOW)
Monday 22 January 2024, 06h30 | Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities across 3 time frames: short (short term), medium (medium term) and long (long term). Readings are subject to change, based on the development of the subsequent price action. Click here to access the data.
Friday 19-January-2024, 16h37 | Offshore Setup: Analog Devices (ADI)
Friday 19-January-2024, 11h51 | Offshore Setups: Morningstar (MORN) / Darden Restaurants (DRI) / Garmin (GRMN) / Micron Technology (MU)
Friday 19-January-2024, 07h49 | Netcare - Above Average Volume
Friday 19-January-2024, 07h26 | Tactical Trading Guide: Top Stocks
Friday 19-January-2024, 07h00 | Key Markets: Short Term Regimes. This considers and highlights momentum regimes across three short term time frames: 2, 3 and 7 days. The RED ZONE = Most Overbought. The BLUE ZONE = Most Oversold. Tickers Displayed: US 10-Year Bond Yield, US Dollar Index, Brent Crude Oil, Gold, S&P 500, JSE Top 40 Index, Plarinum, Volatility Index, USD/ZAR, SA 10-Year Bond Yield
Friday 19-January-2024, 06h30 | Technical Summary as of yesterday's close.
Friday 19-January-2024, 06h30 | BHP Group (BHG) - now trading in oversold territory over the 3 major short term time frames: 2,3 and 7 days.
Friday 19-January-2024, 06h30 | Capitec Bank (CPI). Update: For now, the share is nearing the stop-loss level, with a strong likelihood that the level will be tested. Traders could look to exit.
Thursday 18-January-2024, 06h30 | Technical Summary as of yesterday's close.
Thursday 18 January 2024, 06h30 | Being Alert To Short Term Opportunities: Potential Piercing Candles. Several days of heavy selling pressure have lead to a significant number of shares with high bearish momentum/approaching oversold readings. For short term, active traders, this means being alert to tactical trading opportunities in the form of potential bullish reversals - provided the intraday price action turns from bearish to neutral. We don't know what the trading day holds but what we can do is BE PREPARED. A Bullish Reversal via a piercing candle. WHAT DOES THIS STRATEGY ENTAIL? The share is in a downward trend over several days, becoming extended versus it's moving averages, declining into rising move averages or near the lower boundary of it’s 21 & 50-day standard deviation linear regression channels . As entry for this setup approaches, the candle's structure may reflect excessive selling with a large red candle. The following session, the price may "gap down" and reclaim the prior day lows to close to in positive territory, reflecting short term buying interest (against a defined risk level) with potential for a 2-4 day rebound. The strategy is ideal for ultra short term/active traders looking to capitalize on retracements within a bullish or bearish short term trend. Utilizing the end of day technical summary, here are some names which may fit the bill of a potential piercing candle: CFR, KIO, TFG, BHG. For now, yesterday's low is considered the pivot.
Thursday 18 January 2024, 06h30 | Strategy Screen: "Reward-to-risk being attractive for a small buy/long position."
Thursday 18 January 2024, 06h30 | Discovery Holdings (DSY) - as per the strategy screen above. Notes on chart.
Thursday 18 January 2024, 06h30 | AVI Ltd Downside follow-through from run-up to R83. Yesterday's low = R78.45. The chart, as presented on 29-November.
Thursday 18 January 2024, 06h30 | Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities across 3 time frames: short (short term), medium (medium term) and long (long term). Readings are subject to change, based on the development of the subsequent price action. Click here to access the data.
Wednesday 17-January-2024, 15h24 | OFFSHORE TRADING SETUPS
Wednesday 17-January-2024, 15h24 | OFFSHORE TRADING SETUP (SHORT TERM): Monolithic Power Systems (MPWR). Breakout Level +$598 - https://www.tradingview.com/x/WZGuUP1g/
Wednesday 17-January-2024, 06h35 | Analyst Thoughts: The type of stocks being accumulated often points to the type of market environment at the time Currently, the sector with leading breadth is Consumer Staples. This is NOT what you see in a bull market as it points to investors' defensive positioning. As I mentioned in my opening comments for the year (Friday, 05 January), my screeners during the holiday period showed stocks with defensive characteristics as buy/long opportunities. As of last night's US market close, the percentage of Consumer Staple shares above their 20-day Moving Average was 55% - this is the highest among all of the major sectors. Following that is Communications at 54% and Healthcare at 51%. This morning, a glance at global markets show the US Dollar and Bond Yields placing pressure on risk assets.
Wednesday 17-January-2024, 06h30 | JSE Technical Summary as of yesterday's close.
Wednesday 17-January-2024, 06h30 | BHP Group (BHG) | Update. Yesterday the share (just about) traded into my preferred buy zone of R560 to R575. It's a wide range as I always expect some sort of overshoot (it's a range, not an exact level). From a low of 57333c, a high of 58737c was printed with the share being a relative outperformer (vs the JSE Top 40) on the day. The bullish reversal off the lows is also in line with the medium term reading on the Tactical Trading Guide which stated that a '...small rebound can be expected".
Wednesday 17-January-2024, 06h30 | Impala Platinum (IMP). Excess volatility means there's also an opportunity to tactically generate cash flow. IMP is down from R93 at the end of December to a low of R73 yesterday. There is a familiar level of support around R72 however a lower level of R67 cannot be ruled out. Considering the Tactical Trading Guide, the readings are as follows:
Wednesday 17-January-2024, 06h30 | MTN Group (MTN). On 18 December, the daily chart was highlighted along with the previous (end of day) Tactical Trading Guide which stated: "Would not enter here. Buy/long reward-to-risk unattractive." Subsequently, we saw a small push higher (from R114 to R117) before a bearish reversal off excessively overbought short term levels.
Wednesday 17-January-2024, 06h30 | African Rainbow Minerals (ARI). Provisionally, watch the area around 17200c for short term tactical support.
Wednesday 17-January-2024, 06h30 | Aspen Pharmacare (APN). The share has had a phenomenal run from my buy/long re-entry idea at R160-R164, testing a a high of R206 on 04 January 2024. The short term, the share lacks directional bias and is consolidating above it's 21-day EMA. If the 21-EMA is breached, the 50-day EMA (now around R190) is the next level to watch for an ultra short term tactical accumulation zone.
Wednesday 17 January 2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities across 3 time frames: short (short term), medium (medium term) and long (long term). Readings are subject to change, based on the development of the subsequent price action. Click here to access the data.
Tuesday 16-January-2024, 06h30 JSE Technical Summary
Tuesday 16-January-2024, 06h30 JSE Relative Sector Ratings
Tuesday 16-January-2024, 06h30 Exxaro Resources (EXX). Negative candle structure near multi-month highs + Has struggled to break the R202/R206 resistance level + bearish engulfing candle + 14-Day RSI breaking below the 50 level. Bias: Bearish/Sell
Tuesday 16-January-2024, 06h30 Strategy Screen: Reinet Investments. *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development.
Tuesday 16-January-2024, 06h30, VODACOM RELATIVE TO THE JSE TOP 40 INDEX. Vodacom (VOD) is nearing a 3-month high relative to the JSE Top 40 Index while the 14-week RSI is printing a 5-month high. This is a positive technical development and signals the potential for VOD to OUTPERFORM the JSE Top 40 Index on a relative basis. Also noted is the 2-year falling wedge technical formation.
Tuesday 16 January 2023, 06h30 Satrix Financials (STXFIN) - WEEKLY CHART - Negative divergence at multi-year highs.
Tuesday 16 January 2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities across 3 time frames: short (short term), medium (medium term) and long (long term). Readings are subject to change, based on the development of the subsequent price action. Click here to access the data.
Monday 15-January-2024, 14h25 Trade Alert: Capitec Bank (Published on CMS, then to Telegram)
Monday 15-January-2024, 06h30 JSE Technical Summary as of Friday's close.
Monday 15-January-2024, 06h30 JSE Relative Sector ratings as of Friday's close.
Monday 15 January 2024, 06h30, JSE Sectors Short Term Trend Relative To JSE Top 40 Index
Monday 15-January-2024, 06h30 Sasol Ltd (SOL). The 2-day move off the R166 lows to a high R177.92 is in line with the tactical trading guide which, on Wednesday (end-of-day) stated the following: "Reward-to-risk becoming attractive for a small buy/long positions. While horizontal trend lines take precedence over diagonal trend lines, it may be worthwhile recognizing the price again having rebounded off the lower boundary of the long term downward trending channel. Note the positive divergence as per the 14-day RSI.
Monday 15-January-2024, 06h30 Mondi Plc (MNP). The previous buy signal for the share was triggered on 19 and 20 October following the 6.8% sell-off. The share rallied by 29% from ~R284 to it's recent high of R369.17. Month-to-date, the share has unwound from medium term overbought conditions and is nearing the previous breakout level which, for ultra short term traders, could offer an opportunity to re-enter a tactical buy/long position. For now, R327 to R331 is the level to keep in mind.
Monday 15-January-2024, 06h30 BHP Group (BHG). Provisional Buy/Long Re-Entry R560 to R575. Original buy idea highlighted over 1 year ago (See 2nd chart).
Monday 15-January-2024, 06h30 Dis-Chem Pharmacies (DCP). Downside shift following consolidation at multi-month highs + channel break + bearish divergence confirmed (14-day RSI). Bias: Bearish/Sell
Monday 15-January-2024, 06h30 Gold Fields (GFI). Update. Bullish reversal and strong upside follow-through off oversold conditions. My comment on Wednesday at R227 on the telegram group is highlighted on the chart below. Friday's high = R249. Bank/Take Profit.
Monday, 15-January-2024, 06h30. Shoprite Holdings (SHP). While SHP remains a sector leader over the long term, it may be worthwhile bearing mind the technical chart which, at present, reflects a bearish divergence as per it's 14-WEEK RELATIVE STRENGTH INDEX (RSI). This is where the price prints a higher high while the technical indicator develops a lower high. This is often a precursor to potential subsequent price weakness.
Monday 15-January-2024, 06h30 Strategy Screen (Short Term): "Attempting a bullish reversal following a consolidatin phase". *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are highlighted in the column to the far left while the relevant charts has also been added.
Monday 15-January-2024, 06h30 Strategy Screen: DRD Gold (DRD).
Monday 15-January-2024, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities across 3 time frames: short (short term), medium (medium term) and long (long term). Readings are subject to change, based on the development of the subsequent price action. Click here to access the data.
Media: Business Day
Thursday 11-January-2024, 06h49 Nedbank Group Ltd (NED) - Multi-month base with a pivot of 21800c, targeting upside of 23800c. Risk below 20600c.
Thursday 11-January-2024, 06h30 JSE Technical Summary as of yesterday's close.
Thursday 11-January-2024, 06h30 Share Commentary: 30/Liquid/Tradeable Constituents
Thursday 11-January-2024, 06h30 Reunert Ltd (RLO). Inexpensive SA Mid-Cap. I published a buy/long idea when it traded at R42 in August 2022 (see chart via TradingView below). The share subsequently appreciated significantly, traded as high as R63 by February 2023 from it has been in a consolidation phase. The most recent price action is constructive, with the share having developed a bull flag technical formation that has broken to the upside. In addition, the candle structure is positive enough to suggest that there is potential for the share to push through the multi-month supply zone of 6368c to resume it's upward trend.
Thursday 11-January-2024, 06h30 Global Insurers and Re-Insurers: 4 Names that have appeared on my technical scans in recent days. A consolidation before a potential 'next leg up'. Shown below is Arthur J Gallagher & Co (NYSE:AJG), Marsh Mclennan Companies (NYSE:MMC), Munich Re-Insurance (XETR:MUV2) and Hanover Re (XETR:HNR1).
11-January-2024, 06h30 Relative Sector Ratings (Short Term)
Wednesday 10-January-2024, 15h29 Trade Alert: DLR (Published to CMS and Telegram)
Wednesday 10-January-2024, 08h22 Buy Candidate: Dominos Pizza (DPZ) - Weekly Chart - A 2-year consolidation looking to break to the upside.
Wednesday 10-January-2024, 08h13 Buy Candidate: Constellation Brands (NYSE:STZ) - Clearing upper boundary of ascending triangle on high volume. To trade this, you will need an offshore account.
Wednesday 10-January-2024, 08h07 Buy/Long Candidates: Palantir Tech / Ferrari / Thales / DraftKings
Wednesday 10-January-2024, 07h37 Datatec (Update). Strong upside follow-through from 3551c on 06 December to 4118c at yesterday's close. The original and updated charts are shown below.
Wednesday 10-January-2024, 07h37 Hulamin (HLM) - Notes on chart.
Wednesday 10-January-2024, 07h29 Grindrod (GND) - Notes on chart.
10-January-2024, 06h30 Relative Sector Ratings
Wednesday 10-January-2024, 06h47 Key Market Ratings. Click here to access.
Tuesday 09-January-2024, 07h18 Gold Fields (GFI). The share has sold off sharply from it's short term peak of ~R310 on 14-Dec-2023 and is now nearing the 16-Nov-2023 swing lows. For ultra short term traders, the near oversold conditions could offer an opportunity to participate in a tactical bullish reversal, provided the candle structure improves. The provisional support zone and potential price path is highlighted on the chart below. In addition, traders are being alerted to the share's readings as per the the Tactical Trading Guide as of yesterday's close.
Tuesday 09-January-2024, 06h30 JSE Technical Summary as of yesterday's close.
Tuesday 09-January-2024, 06h30 JSE Relative Sector Ratings as of yesterday's close.
Tuesday 09-January-2024, 06h30 Truworths (TRU). My previous published idea (06-Nov) was to sell 8194c (see red arrow). Yesterday the share tested a 3-month low of 6935c. A small positive divergence has developed however it is also possible that the share trades lower to re-test the previous breakout level which can also be considered a key demand/supply zone. Despite being in a consolidation phase, the multi-month trend remains up.
Tuesday 09-January-2024, 06h30 Harmony Gold (HAR) - Update - I previously highlighted the potential for a bearish reversal at the July/August 2020 swing highs. We have subsequently seen the share unwind from significantly overbought levels (on a week/monthly basis), with potential for the unwind to continue in a similar manner as seen in previous period. The annotations are unchanged from the last analysis.
Tuesday 09-January-2024, 06h30 Bid Corp (BID). Multi-month consolidation. If we start seeing prints above the 42500c/43000c range, that could signal a continuation of the long term upward trend and potential re-test of the previous highs of 46000c. Downside risk below 40000c.
Tuesday 09-January-2024, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities across 3 time frames: short (short term), medium (medium term) and long (long term). Readings are subject to change, based on the development of the subsequent price action. Click here to access the data.
Monday 08-January-2024, 11h18 Trade Alert: LHC
Monday 08-January-2024, 06h30 JSE Technical Summary as of Friday's close.
TO NOTE: Reviewing the technical summary screen, there is an overwhelming number of constituents trading within a NEUTRAL range, which suggests that some have retreated from OVERBOUGHT or have made a positive shift from HIGH BEARISH MOMENTUM to WEAK and then NEUTRAL.
Monday 08-January-2024, 06h30 British American Tobacco (BTI) - Update. Just over a month ago (06-December) I highlighted a key level on the chart, which showed the share trading at a key level when applying a parallel channel. In that case, following an 11% daily decline, the share traded at the lower boundary of the channel. Subsequently, a minor rally AROUND these lows has occured with the share gaining +3000c. As of Friday's close, the Tactical Trading Guide stated the following for the 3 time frames:
The original and follow-up chart for BTI is shown below, highlighting the upside follow-through.
Monday 08-January-2024, 06h30 Sasol Ltd (SOL). Update. My previous comment highlighted the chart trading at the lower boundary of the parallel channel, which coincided with a high bearish momentum/approaching oversold reading. We have since see a strong rebound (from 17124c to a high of 18984c), followed by the current consolidation (to 18528c) before a potential further recovery. Two charts are shown below, the original and follow-up (as of Friday's close).
Monday 08-January-2024, 06h30 Fortress Real Estate Inv. A (FFA). The share has shown relative strength versus the broader market, holding within close proximity to it's 52-week highs throughout the last nine months. Over the same period, supply (resistance) has been at ~1420c, which is also the level at which a print and close above would potential signal a continuation of the upward trend. Bias: Buy/Long
Monday 08-January-2024, 06h30 JSE Sectors Short Term Trend Relative To JSE Top 40 Index (Broader Market)
Monday 08-January-2024, 06h30 JSE Insurers Relative To JSE Top 40 Index: Trading at multi-month highs and clearing a multi-year downward trend. The relative is consistent with developments in global markets (e.g. United States) where insurers are trading at multi-month and multi-year highs.
Monday 08-January-2024, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities across 3 time frames: short (short term), medium (medium term) and long (long term). Readings are subject to change, based on the development of the subsequent price action. Click here to access the data.
Friday 05-January-2024 06h30. Analyst Thoughts: (Initial). I used *some* of my time between Christmas and New Years to refresh and further optimize my screeners with the goal of widening the opportunity set. The results highlighted a common theme with respect to the current market environment i.e. prepare and position within defensive sectors. To further elaborate, names in the Healthcare, Consumer Staples and Energy sectors commonly featured among the list of candidates. To a lesser extent, constituents from the Utilities sector also featured among the potential opportunities. As you may already know, strength within these sector often suggests a 'risk-off' environment. Subsequently, the first few days of the trading year saw the Q4 2023 winners sell off and many of my screener candidates outperform on both an absolute and relative basis. As the price action develops, the opportunity set will be subject to change, meaning that the next batch of candidates will emerge.
Friday 05-January-2024, 06h30 Themes To Note: (1) Value Continuing To Outperform Growth (2) Low Volatility Starting To Outperform High Beta (3) Small Caps At A Key Inflection Point Vs Large Caps (4) Emerging Markets At A Key Inflection Point Vs Developed Markets.
Friday 05-January-2024, 06h30 JSE Relative Sector Ratings as of yesterday's close.
Friday 05-January-2024, 06h30 JSE Technical Summary as of yesterday's close.
Friday 05-January-2024, 06h30 Shoprite Holdings - nearing a multi-year resistance supply zone, with negative divergence as per the 14-week Relative Strength Index (RSI). Potentially a level to reduce risk and/or sell/short. *Please note, the price on the chart may differ slightly from the last closing price.
Friday 05-January-2024, 06h30 Aspen Pharmacare (APN) - High bullish momentum + approaching overbought. The share has followed the potential price path, breaking out of the channel. The rising trend line (connecting the swing highs) forms part of the larger parallel channel and represents a potential range to reduce risk or potentially sell/short on an overextension. *Please note, the price on the chart may differ slightly from the last closing price.
Friday 05-January-2024, 06h30 US 10-Year Bond Yield | My previous comment(s) highlighted the potential for the US10Y to trade lower, meaning lower bond yields which also means higher bond prices. Over the course of several weeks we have seen this reversal unfold, with the US10Y moving from above 4.70% to below 3.80%. The downward trend, which was high bearish momentum, saw the yield moving into an oversold range, with a bullish reversal off the 3.80%. This reversal at support has coincided with risk assets, coming under pressure on the first and second trading day of the year. *Please note, the price on the chart may differ slightly from the last closing price.
Friday 05-January-2024, 06h30 Trade Idea Updates:
Sappi (SAP): Buy/Long. Approaching the full target of 4579c. Yesterday the share reached 4506c, it's highest level since October. The suggested entry was 4119c.
Glencore (GLN). Buy/Long. The share reached a high of 11294c on 27 December. The suggested entry was 10749c.
Clicks Group (CLS). Sell/Short. The share previously breached the stop-loss level.
Friday 05-January-2024, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities across 3 time frames: short (short term), medium (medium term) and long (long term). Readings are subject to change, based on the development of the subsequent price action. Click here to access the data.
Tuesday 19-December-2023, 08h41 United States Steel Corp was a share which I recommended at $24 in November of last year (2022). Yesterday it was announced that the group will be acquired by Japan’s Nippon Steel for $55 per share, 129% above the recommended entry.
Tuesday 19-December-2023, 08h31 JSE Technical Summary as of the last close.
Tuesday 19-December-2023, 08h23 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities across 3 time frames: short (short term), medium (medium term) and long (long term). Readings are subject to change, based on the development of the subsequent price action. Click here to access the data.
Monday 18-December-2023, 06h30 JSE Relative Sector Ratings as of the last close.
Monday 18-December-2023, 06h30 JSE Technical Summary as of the last close.
Monday 18-December-2023, 06h30 Strategy Screen (African Rainbow Minerals, Northam Platinum, Glencore, Woolworths): Long Term Trading Time Frame (5 to 8 weeks) - "Attempting to rebound within a range. Buy/long on strong bids near the highs of the range". *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are also highlighted in the column to the far left.
Monday 18-December-2023, 06h30 Platinum & Precious Metals vs JSE Top 40: Amidst the absolute (price) weakness and negative sentiment surrounding the sector, the relative strength of the Platinum and Precious Metals sector is evident when reviewing the ratio/relative chart (compared to the JSE Top 40 Index), with the ratio trading at it's highest level since August and breaking to the upside of a multi-month base.
Monday 18-December-2023, 06h30 MTN Group (MTN) was one of the shares which participated in Thursday's monster rally, adding 6% for the session to close at the highs of the day (11400c). The strong candle structure is positive however, does come following a significant move over the short term. On 21 November at 9484c I highlighted the RSI printing a new 3-month high, which was a positive signal for a momentum traders. At Thursday's close, the share ranks as OVERBOUGHT with the SHORT TERM reading as follows: "Would not enter buy/long here. Reward-to-risk is unattractive". MEDIUM TERM: No reading available. LONG TERM: "Strong buying interest following a generally weak trend. May consolidated before the next leg up".
Monday 18-December-2023, 06h30 Satrix Property Portfolio (STXPRO). I published a note on the ETF just over 1 month ago, looking for a channel break which could signal a channel break. Update: Now trading higher by 9.9% over the month.
Monday 18-December-2023, 06h30 Sirius Real Estate (SRE). Swing long trigger +2175c. Target = 2560c. Stop: 1940c.
Monday 18-December-2023, 06h30 Old Mutual Ltd (OMU). The share has started to follow the potential price path, with a 'reversal' candle on Wednesday and an 'igniting' candle on Thursday. Going forward, the share could consolidate before continuing it's bullish reversal.
Monday 18-December-2023, 06h30 Share Commentary For JSE Top 20 by Market Cap
Monday 18-December-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities across 3 time frames: short (short term), medium (medium term) and long (long term). Readings are subject to change, based on the development of the subsequent price action. Click here to access the data.
Thursday 14-December-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities across 3 time frames: short (short term), medium (medium term) and long (long term). Readings are subject to change, based on the development of the subsequent price action. Click here to access the data.
JSE Top 40 Index (J200)
Thursday 14-December-2023, 06h30 JSE Technical Summary as of yesterday's close
Mondi Plc
Wednesday 13 December 06h30. Primary Trends: Selected Large Caps (30). (Approximately 5 to 8 Weeks). Subject To Change based on the development of the price action. Weekly Charts and Weekly Moving Averages Apply.
Sasol Ltd (SOL)
Wednesday 13-December-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities across 3 time frames: short (short term), medium (medium term) and long (long term). Readings are subject to change, based on the development of the subsequent price action. Click here to access the data.
Wednesday 13-December-2023, 06h30 JSE Technical Summary as of yesterday's close
Tuesday 12-December-2023, 06h30 Long Term Trading Commentary (Approximately 5 to 8 Weeks) For Selected Large Cap/Liquid Shares. Subject To Change based on the development of the price action. Weekly Charts and Weekly Moving Averages Apply.
Aspen Pharmacare (APN)
Anglo American Plc
Tuesday 12-December-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities across 3 time frames: short (short term), medium (medium term) and long (long term). Readings are subject to change, based on the development of the subsequent price action. Click here to access the data.
Tuesday 12-December-2023, 06h30 JSE Technical Summary as of yesterday's close.
Monday 11-December-2023, 14h41 KIO: Short/Sell Target Exceeded
Monday 11-December-2023, 06h30 JSE Sector Ratings as of Friday's close.
Monday 11-December-2023, 06h30 Shares to consider buy/long re-entries should they pull back into their 50-day exponential moving averages (EMA). Tickers: INL, INP, RNI, TFG
Monday 11-December-2023, 06h30 Shares that have declined significantly over 1 week and are flagging as potential bullish reversal plays. Tickers: SOL, DRD, ANG, AGL
Monday 11-December-2023, 06h30 Overbought across multiple time frames, high bullish momentum/approaching overbought [short/sell bias]. Tickers: CLS, MNP
Monday 11-December-2023, 06h30 JSE Technical Summary as of yesterday's close.
Monday 11-December-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities across 3 time frames: short (short term), medium (medium term) and long (long term). Readings are subject to change, based on the development of the subsequent price action. Click on the image below to access the data, as of Friday's close.
Monday 11-December-2023, 06h30 Absa Group is flagging on the short term time frame, however, providing my view of the long term trend may be key in putting the structure into context. Short term = potential buy following sell-off. Long term = breaching the downward trend extending back to the lows of March 2020 (Covid-19 sell-off).
Lester Davids
Analyst: Unum Capital
Comentarios