Trade JSE Shares with Unum Capital.
To get started, email lester@unum.co.za
Readings are subject to change as the price action develops.
For clients trading TFG, MRP and WHL
Based on the price action model reading, TFG is currently experiencing weakness across all time frames. The 7-day trend is weak, and the 14-day trend is very bearish, indicating strong downward momentum. For the short term (1 to 10 days), the strategy is to wait for the trend to stabilize on a lower time frame before considering any positions. In the medium term (2 to 4 weeks), there is very aggressive selling, and the recommended strategy is to wait for the downward momentum to slow before considering buying or to phase in buying gradually. For the long term (5 to 8 weeks), TFG is weak within a sideways consolidation. Overall, the model suggests caution and a strategy of waiting for signs of stabilization or reversal before taking any significant positions.
The overall trend for WHL is bearish, with both the 7-day and 14-day trends indicating weakness and bearishness respectively. For the short term, the position is very weak, and the strategy is to wait for stabilization on the lower time frame. In the medium term, the position reflects very aggressive selling, and the recommended strategy is to wait for downward momentum to slow or phase in buying. Looking further ahead to the long term, aggressive selling persists, and the strategy is to wait for stabilization on lower time frames.
For MRP, the market is currently experiencing a bearish trend across short, medium, and long-term timeframes. In the immediate 7-day period, high bearish momentum is observed, approaching oversold conditions. Despite this, the 14-day trend suggests a potential short-term buying opportunity due to an increasingly favorable reward-to-risk ratio. Over the trailing 2 to 4 weeks, aggressive has been underway. Here, traders should focus on waiting for lower time frames to stabilize before taking action. The trailing 5 to 8 weeks has seen aggressive selling pressure. Traders should monitor prices near support and prior swing lows to capitalize on minor rebounds within the broader medium term downward trend.
Technology + Proprietary Insights has helped to develop automated tools and strategies that are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames.
Lester Davids
Analyst: Unum Capital
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