Trade Mr. Price and other JSE Shares with Unum Capital.
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This post highlights 3x occasions where both manual and automated views in early to mid December 2024 prepared traders for a short/sell opportunity in Mr. Price Group.
Are you taking advantage of the tools and information being provided? Well done those who are!
MRP is a share I discussed on 12 December, highlighting the unfavorable reward-to-risk on the buy/long side. The note was driven by both a manual view (observation/analysis of the chart etc.) as well as being informed by the price action model. The share has since declined from ~29800c to 25500c. Well done to any clients that may have recognized the risk and capitalized on the opportunity.
Edit/Insert: On 03 December, despite the price rising, the end of day price action model was prescient was identifying the emergence of sellers. This was 3 days before the peak (which was only a few cents higher) and which provided traders with ample opportunity to position themselves for a short/sell trade. The updated chart and time-stamped reading (03 December) is shown below.
The share price peaked on 06 December. Below is the time-stamped model reading for the previous day (end of day) on 05 December, where the model stated the following: "Do not enter a buy/long at/around current levels. The reward-to-risk is unattractive."
Previous Post: Mr. Price's Model Reading Points To Unfavorable Reward-To-Risk
Thursday 12 December 2024 (Time: Pre-Market)
MRP Mr. Price Group
Last week's price action/model readings warned against fresh longs at/around current levels.
Additional notes on the slide below
Lester Davids
Analyst: Unum Capital
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