This page is updated as the price action and news flow develops and, as opportunities are identified in real-time. Research is published DAILY and can be accessed at the following link: www.unum.capital/blog
Yesterday (Monday) I discussed Northam Platinum, Ethereum, Clicks, Standard Bank, Old Mutual, SPDR Metals and Mining ETF (and more). In case you may have missed it, you can read it here: https://www.unum.capital/post/active-trading-plan-monday-14-october-2024
Unum Research Attains 3rd Place In The 2024 Securities Broker Awards.
Read More Here: https://www.unum.capital/post/unum-research-awards
COVERAGE: Below are the items covered thus far today/overnight. Included on this page are views expressed from which overlaps from yesterday's/the last U.S trading session (both pre-market and intraday).
FX: EUR/USD
Impala Platinum (IMP)
Naspers (NPN) - Approaching The Rising 21-EMA
Sector Breadth
New Highs/Lows
Discovery (DSY): Take Note
Tencent Holdings
BHP Group (BHG) - Cash Flow For Active Traders
Most Overbought/Oversold
Strongest/Weakest Open To Close
[Global Ideas] Cisco Systems (CSCO)
[Global Ideas] Invesco S&P MidCap Quality ETF (XMHQ)
[Global Ideas] Marvell Technology (MRVL)
[Global Ideas] iShares Expanded Tech Sector ETF (IGM)
[Global Ideas] iShares U.S. Transportation ETF (IYT)
FX: EUR/USD
Noted added on Tuesday, 14 October 2024 at 16h05
Model reading + price action aligning. Good spot to buy for a short term rebound (current levels or slightly lower)
IMP Impala Platinum - Down by close to 5% so far today
Note Added on Tuesday, 14 October 2024 at 12h22
We saw this reading (see attached) on Friday evening and again last night, warning around the potential failure to hold the highs. Remember IMP went from 70 to 106 within a month (along with it's peers also advancing by a similar margin). It's never a straight line up, so the pullback is very normal. Not only does this data set help traders find opportunity, it also helps to manage risk.
Naspers (NPN)
Note Added On Tuesday 15 October 20224 at 09h16
Now approaching the rising 20-day EMA - could overshoot to the downside, but for active traders, this might be a level to pick up a few ZARs.
Sector Breadth
Note Added On Tuesday 15 October 20224 at 06h37
If you want to understand your current market environment, then this is the kind of data you need to continuously monitor.
If you don't understand why it's important, chat to me and I'll explain.
New Highs/Lows
Note Added On Tuesday 15 October 20224 at 06h37
If you want to understand your current market environment, then this is the kind of data you need to continuously monitor.
Discovery (DSY): Take Note Of This Model Reading
Note Added On Tuesday 15 October 20224 at 06h03
Last night, as I reviewed the Tactical Trading Guide, this reading caught my eye.
For some context, this has been the most recent levels on my DSY chart.
Now R172...but buy/long trigger months ago at R113.50.
Tencent Holdings
Note Added On Tuesday 15 October 20224 at 05h57
Naspers have us a model reading which warned of a short term pullback. For both NPN & PRX, this is likely to continue as Tencent continues to unwind from short term overbought conditions.
Tencent previously exceeded both upside targets and is now likely to re-test it's previous breakout level, which is in line with it's 50-day EMA.
BHP Group (BHG) - Cash Flow For Active Traders
Note Added Monday 14 October 20224 at 18h33
As discussed at the top of last week, a pullback to the 21-day EMA was the most probable price action scenario. This also represented an area for traders to re-enter on the buy long side for an ultra short term trade. Here, the share found support at the 21-day EMA, trading from R501 to R520. This entry level was also marked on the chart as a 'next best probability buy range'.
As discussed last week Monday:
BHG Follow Up Chart:
Strongest/Most Overbought/High Bullish Momentum as of the last close.
Weakest/Most Oversold/High Bearish Momentum as of the last close.
Most Dominant Buyers (Open To Close)
Most Dominant Sellers (Open To Close)
Invesco S&P MidCap Quality ETF (XMHQ)
Note Added During US Session (Monday 14 October 2024) at 20h20 (S/African Time)
XMHQ is a passively-managed portfolio of 80 securities that tracks the S&P mid-cap 400 Quality Index. The equities are selected based on the highest quality score, calculated by the following three equally-weighted fundamental factors: (1) return-on-equity (2) accruals ratio, and (3) financial leverage ratio. The index is being weighted by the total of its quality score multiplied by its market capitalization and is rebalanced semi-annually.
Marvell Technology (MRVL, $77.50)
Note Added During US Session (Monday 14 October 2024) at 20h14 (S/African Time)
Very strong price action below resistance - looking for the price to emerge from a multi-month consolidation range. Buy/Long Idea.
iShares Expanded Tech Sector ETF (IGM)
Note Added Pre-Market US Session (Monday 14 October 2024) at 16h17
Medium Term Portfolio Idea: Buy
Breaking out from a multi-month consolidation range + not extended at all.
Why IGM? (1) Broad exposure to the technology sector, and technology-related companies in the communication services and consumer discretionary sectors (2) Access to hardware, software, internet marketing, interactive media, and related companies (3) Use to express a view on North American technology-related companies
iShares U.S. Transportation ETF (IYT)
Note Added Pre-Market US Session (Monday 14 October 2024) at 13h50
Flashing via a screener, I noticed this setup over the last few days. Now breaking out of a multi-month base.
Further upside to $80 - $83.
IYT original chart (14 Jun 2023) is shown below:
Lester Davids
Analyst: Unum Capital
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