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  • Lester Davids

Active Trading Plan - Friday, 05 April 2024

Updated: Apr 5

READING TIME: 2 MINUTES


This market has, and continues to offer phenomenal opportunities to make money.


To trade, or open a new account, contact the Unum Capital Trading Desk: E-mail: tradingdesk@unum.co.za | Call: 011 384 2923


SUMMARY


  • SBK - Prepare for tactical buy/long re-entry

  • CFR - Prepare for tactical sell/short re-entry

  • SOL - now +18%. For short term traders, it's nearing a level to reduce

  • SAP - for short term traders, nearing a level to reduce.

  • SHP - Prepare for sell/short re-entry

  • SPP - Turning up, following price path

  • TGA - Strong recovery from signal at R103, now nearing reduce at R140/143 or re-enter buy/long R120/122 (range).

  • IMP - Has advanced by +36% and +49% respectively. Short term reward-to-risk less appealing.


=> Please Scroll Down For Detailed Notes



Friday 05 April 2024, 06h30 | SBK Standard Bank Group | Further Update: Approaching a buy/long re-entry. The daily ranges/candles are getting smaller, which may signal a potential slowdown in bearish momentum. In addition, the share has been in the high bearish momentum/oversold category.



Friday 05 April 2024, 06h30 | CFR Richemont | Below is my updated forecast/potential price path of Richemont, going forward.



CFR Richemont: Unum Capital clients were alerted to a SELL/REDUCE on Thursday 14 March (high for the year), with the view re-iterated on Monday 18 March. Well done to clients to took the opportunity to trade.




Friday 05 April 2024, 06h30 | SOL Sasol Ltd | Update | Yesterday the share reached a high of 15860c, advancing by +18.6% (ungeared) from the research note published to Unum Capital clients on Tuesday 19 March (pre-market). At the time of publication, the share traded at 13368c. Note that Tuesday 19 March was also the lowest level that the share traded this year. Well done to clients who took advantage of the trading opportunity. Below is my updated view, highlighting the rating and tactical trading guide last close next best as well as the 'next best probability' buying and selling level.




Friday 05 April 2024, 06h30 | SAP Sappi | The share had a solid session, with the price reaching a sell/reduce level of interest. We need to monitor for candle structure that suggests the upward momentum will (or is) slowing down. Looking at the Tactical Trading Guide, the SHORT TERM reading states that the "...reward-to-risk is unattractive":




Friday 05 April 2024, 06h30 | SHP Shoprite Holdings | Bearish 'Continuation Trade' | I discussed SHP on 05 January when the share traded at a high of R270, expressing my view of a poor reward-to-risk for buyers. We have since seen the share unwind, trading as low as R242. Over the last few days, the share has been in a consolidation phase, however, the medium term trend remains down. The share trades below it’s 21 and 50-EMA, both of which have started to turn down. On a rally, these levels may act as a resistance zone. On this basis, a rejection AROUND these levels would offer traders the opportunity to enter a ‘CONTINUATION SELL/SHORT’, targeting lower levels.




Friday 05 April 2024, 06h30 | SPP Spar Group | Update.



SPP Spar Group as of yesterday's close.



Friday 05 April 2024, 06h30 | TGA Thungela Resources |The 200-day moving average could act as a short term resistance zone, which could, for short term/active traders offer an opportunity to enter a tactical sell (short) trade. A pullback toward the R120/122 range would see the share return to it's rising 8/21-EMA (subject to change), which be a potential level to re-enter on the buy/long side.



TGA Thungela Resource | As presented in my research note on Friday 29 February at R103 (see below). Well done to clients who managed to capitalize on this opportunity.



Friday 05 April 2024, 06h30 | UPDATE: IMP Impala Platinum is higher by 36% and 49% respectively. At current levels, the reward-to-risk does not appear to favour new buyers, with the share having a rating of high bullish momentum/approaching overbought while also close at the declining 200-day SMA.



The potential price path was followed with a 36% advance as of yesterday's close. Well done to clients who managed to capitalize on this opportunity.



IMP Impala Platinum is also higher by 49% since the reading via the Tactical Trading Guide on 04 March which stated that the reward-to-risk is becoming attractive for a small buy/long position.



Lester Davids

Analyst: Unum Capital

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