Trading Absa Group

Research: October 2026 > https://www.unum.capital/post/roct2026

The bear flag technical formation has played out. The yellow arrow on the chart reflects the date of the previous note (31 August) with the subsequent move being from ~R231 to yesterday's low of ~R207.44. From current levels, there is potential for the share to test the bottom of the downward sloping channel near R198/200. Should the share reach that level, traders would have to determine whether new institutional buyers are starting to step up or wait until evidence thereof emerges.

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Previous Post (31 August)

Absa: Reviewing the daily chart, a potential 'bear flag' technical formation is identified, with a break below the R223 level or the lower boundary of the channel being the trigger for further downside.

Lester Davids

Senior Investment Analyst: Unum Capital