Friday 25 October 2024
Time Published: Pre-Market
TECHNICAL SCREENERS: There have been some incredible opportunities to generate cash flow. One of our favorite technical screens is the price vs the 21-week EMA. For new buy/longs ideas, this strategy works well in a market that has been oversold. Here, the share is trades more than 10% below it's 21-week exponential moving average, which may offer a compelling reward-to-risk. Most recently (03 September) I published a screen with several names that matched the criteria. Over the subsequent 6+ weeks, the performance has been as follows:
GFI +27% [Also flagged via the Tactical Trading Guide]
KIO +27%(R322 to R410), then retraced [Also published separately as a trade idea]
IMP +50% [Flagged via the Tactical Trading Guide]
SSW +31% [A separate note looked for break to R14 before a rally to R20]
NPH +48% [Also a Strategy Alert at R93. Friday's high = +R124]
EXX +12% [Also published separately as a trade idea]
ARI +20% to recent peak [Also flagged as a provisional buy/long as it approached the swing lows]
MKR +17%
The technical screen was originally published here on Tuesday, 03 September at 14h28: https://www.unum.capital/post/technical-screen-below-21-w-ema-by-10-or-more-tuesday-03-september-2024
This market has, and continues to provide phenomenal opportunities to generate cash flow. Well done to Unum Capital clients that have taken advantage of the opportunity to trade. To get started, contact the Unum Capital Trading Desk.
Previous Post: Real-Time: 14H28
Tickers: GFI, KIO, SOLBE1, IMP, SSW, NPH, EXX, ARI, MKR
Represents shares that shares that are overextended to the downside.
Lester Davids
Analyst: Unum Capital
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