Active Trading Plan - Thursday, 10 October 2024

Updated: Oct 10

This page is updated as the price action and news flow develops and, as opportunities are identified in real-time.

Unum Research Attains 3rd Place In The 2024 Securities Broker Awards.

COVERAGE: Notes Added Thus Far Today/Overnight

Offshore Idea: Amazon Inc (AMZN)

Note Added on Thursday, 10 October 2024 at 13h34

Key Drivers

At the forefront of global innovation
Analysts are forecasting substantial free cash flow in the years ahead
A driven founder/management team with significant interests (shareholding)
Sector disruptor
Technically: a 4-year consolidation, with re-emerging momentum at the top of it's range and potential to break out to new highs.

ANGLO AMERICAN PLC (AGL) - MODEL READING + ACTIONABLE AREAS

Ninety One (NY1): 1st Target Reached

EUR/USD: Approaching Ultra Short Term Oversold Levels

US 10-Year Bond Yield (Video/Watch)

FLASH VIEW: JSE Top 40 Constituents By Market Cap

Note Added: Thursday, 10 October 2024 at 08h46

iShares U.S Financials ETF (IYF)

Note Added Wednesday, 09 October at 22h10

Quite a number of US financials that have been flashing on my screeners in the last few days. If you want to avoid single stock risk, take a look at this ETF.

Impala Platinum (IMP)

Note Added Wednesday, 09 October at 21h51

The trader's on the desk were guided to the appealing reward-to-risk at R71 from which the share has staged a massive rally to R106.
The current price action reflects aggressive buying interest with the potential to break above the resistance level and revisit the previous swing high (R113 to R115)
Here, there is potential for the share to test this range and then overshoot the upside, which could coincide with short term overbought conditions.
Traders could then use the previous highs to reduce long positions or initiate a small short/sell position. Wait for the price/candle structure to reflect a slowdown in upward momentum.
Alternatively, the rising 21-day EMA could act as a support range for traders who are looking to add on a pullback.
All depends which level is test first!
The initial setup was discussed here: https://www.unum.capital/post/analysis-from-the-tactical-trading-guide-impala-platinum-as-an-example-friday-13-september-2024

US 10Year Bond Yield

Note Added: Thursday, 10 October 2024 at 09h07

Sanlam Ltd (SLM)

Note Added Wednesday, 09 October 2024 at 21h02

Offshore Opportunities

Offshore Opportunities

Churchill Downs (CHDN)

SOUTH AFRICA 10-YEAR BOND YIELD

Note Added Wednesday, 09 October 2024 at 18h31

The igniting bar highlighted saw strong upside follow-through from below 9% to 9.26%. The 21-day EMA has started to turning up and could act as a support zone on a pullback. This has implications for SA equities, especially banking and property, both of which have started to reflect higher SA bond yields.