Wednesday 13 November 2024
Time: Pre-Market
My stance over the past few months (since August) has been to remain overweight insurers relative to the broader market. This was informed by the bigger picture technical structure which looked for a break up via the weekly and monthly charts. From 36.22 on the chart below, the ratio now trades at 41.41. This represents a gain of 14%. Well done to traders who were positioned for the move.
The original ratio chart from the report for Monday 19 August is shown below:
Previous Post: 06 September 2024
Equally-Weighted Insurers Relative To JSE Top 40 Index: The group continues to show relative strength versus the broader market, with a ration looking to emerge from a multi-month base formation. Preferred Sector Pick: OMU (also with a multi-month base!).
Time Frame: Medium to Long Term
Lester Davids
Analyst: Unum Capital
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