To trade, or open a new account, contact the Unum Capital Trading Desk:
E-mail: tradingdesk@unum.co.za | Call: 011 384 2923
Lester Davids
Analyst: Unum Capital
Good day. Thank you for taking the time to visit this page. My overall goal is to provide you with leading, high quality information by conveying my best interpretation of the most relevant market information in order for you, as a client to: (1) understand the potential opportunities and manage the potential risks and (2) make informed decisions around trading opportunities. To read my full research philosophy, please visit the following link: https://www.unum.capital/post/research-philosophy.
Resource Centre: The graphic below may be beneficial to you as a client.
To continue reading today’s research, please scroll down.
Monday 18 March 2024, 06h30 | Market Dashboard as of Friday's close
Monday 18 March 2024, 06h30 | CREDIT SPREADS | The bond market is a highly reliable indicator for assessing risk. When credit spreads widen, as they did in early 2020, equities tend to come under pressure. On the chart below, a breach of the downward trend line would signal potential risk-off for global equities.
Monday 18 March 2024, 06h30 | JSE Relative Sector Sectors Regime Changes
Monday 18 March 2024, 06h30 | JSE Sectors vs Moving Averages, as of Friday afternoon:
Monday 18 March 2024, 06h30 | Technical Summary: Mid & Large Caps, as of Friday's close.
Monday 18 March 2024, 06h30 | ENERGY | NUMBER 1 PERFORMING SECTOR SINCE 16 FEBRUARY | My comment on 16 February is shown below, followed by the sector performance as of Friday before the US market open.
Monday 18 March 2024, 06h30 | JSE Relative Sector Regimes, as of Friday's close:
Top 40, Technology, Diversified Miners, Banks, Insurers
Gold Miners, Platinum Miners, Consumer Staples, Consumer Discretionary, Pharmaceuticals & Hospitals
Coal Miners, Telecoms, Paper & Pulp, Chemicals, Luxury Goods, USD/ZAR
Candlestick Formations form part of technical price charts, which are are used by market participants to interpret current demand-supply dynamics, potential price trends as well as form decisions from these inferences. The tables below highlight the following: (1) The share code (2) the candle's 'change from open’ (over 1 session) i.e. from the start of the first hour of the trading day to the end of the last hour of the trading day'. This is used to determine the strength/weakness of the candle formation i.e. the greater (+) the percentage, the stronger the candle formation and the weaker (-) the percentage, the weaker the candle formation and (3) the share's short term technical rating i.e. which phase the share is in over a 7 day period. To view the data, click on the following links: Shares 1 to 20 | Shares 21 to 40 | Shares 41 to 60 | Shares 61 to 80 | Shares 80 to 91
Monday 18 March 2024, 06h30 | APN Aspen Pharmacare
Monday 18 March 2024, 06h30 | HAR Harmony Gold
Monday 18 March 2024, 06h30 | SHP Shoprite Holdings
Monday 18 March 2024 | 06h30 | SBK Standard Bank
Monday 18 March 2024, 06h30 | DCP Dis-Chem Pharmacies | Two Friday’s ago (08 March) I highlighted 5 points on Dis-Chem, with the bottom line being that the share was technically expensive. Since then, it has continued to move higher, with the 5 points even more relevant. I DON’T KNOW whether today, tomorrow or the following day will be the extact short term top however, this is setting up as a short/sell with the reward-to-risk starting to favour sellers.
Monday 18 March 2024, 06h30 | CFR Richemont | Approaching a range to reduce/sell/short. See notes on chart.
Monday 18 March 2024, 06h30 | IMP Impala Platinum | Full target reached at R78.
Monday 18 March 2024, 06h30 | NED NEDBANK GROUP | Full Upside Target Reached at R238. As noted previously, this was also the provisional sell/reduce zone. We saw the share trade as high as 23850c before pulling back to 22241c at Friday’s low.
Monday 18 March 2024, 06h30 | Tactical Trading Guide (Share Commentary on Largest 60 Shares By Market Cap): 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. This page highlights readings from our Tactical Trading Guide (Price Action Tool) which is also available as a live tool via the telegram group. The tool provides automated price analysis of over 90 JSE-listed equities across 17 sectors and across 3 time frames: short (short term), medium (medium term) and long (long term). Readings are subject to change, based on the development of the subsequent price action. Click here to access the data Tactical Trading Guide.
Lester Davids
Analyst: Unum Capital
Resource Centre
Top Trading Tips: (1) Let The Candle Confirm (Click Here To Read) (2) Failure & Reclaim (Click here To Read) (3) Igniting Bar (Click Here To Read)
Resource Centre (1) Standard Deviation Chartbook Introduction (Click Here) (2) Standard Deviation: Range of Outcomes & Traders Potential Action (Click Here) (3) Optimal Conditions For Bullish & Bearish Trading Setups (Click Here) (4) Core Trading Principles (5) Core Macro Principles
Systematic Insights: Timely Trading Signals Via The Tactical Trading Guide: MTN, MNP, TBS, SBK, DSY, TKG, MTM, HAR, GFI, IMP (Click Here)
Comments