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Writer's pictureLester Davids

Active Trading Plan - Tuesday, 08 October 2024

Updated: Oct 8

This page is updated as the price action and news flow develops and, as opportunities are identified in real-time.


COVERAGE (Thus Far Today, Non-Comprehensive)


  • BHP Group

  • MTN Group

  • Thungela Resources

  • Naspers

  • S&P 500 Index

  • Old Mutual

  • U.S Sector Breadth

  • U.S Broad Market Breadth

  • Watchlist Buy Candidate

  • FirstRand

  • JSE Top 40 Index

  • Shoprite

  • Truworths

  • Most Overbought/Oversold

  • Strongest Open To Close

  • FX: EUR/USD

 
 

BHP Group

Note Added: Tuesday, 08 October 2024 at 11h07

  • The share is rebounding off the Support Level #2 which was discussed at the beginning of this week.


The original chart is shown below - in order to obtain continuous access to trading opportunities, you need to be a client of Unum Capital. To sign up, email lester@unum.co.za


MTN Group

Video Added: Tuesday, 08 October at 10h38

Press Play To Watch


 

Thungela Resources

Video Added: Tuesday, 08 October at 09h57

Press Play To Watch

 

Naspers

Note Added: Tuesday, 08 October 2024 at 08h09

  • We should see the share under pressure today as the recently high flying Chinese shares retreat from short term overbought levels. Tencent is currently lower by over 7%.

  • As discussed last week (Wednesday 02 October) via the model reading.

 

S&P 500 Index

Note Added: Tuesday, 08 October 2024 at 07h50

 

Old Mutual (OMU)

Note Added: Monday, 07 October 22h08

  • Model reading at today's close coinciding with my manual review which looks for a potential buy/long re-entry at or below the 50-day EMA

 

U.S Sector Breadth

Note Added: Monday, 07 October at 21h38

  • The graphic highlights what percentage of sector constituents are above the 20-day moving average.

  • Energy and Financials leading the charge.

 

U.S Market Breadth

Note Added: Monday, 07 October 2024 at 21h26

  • Market breadth stable for now

  • 203 new highs vs 42 new lows

 

Ticker: 🔒 - To become a client, email lester@unum.co.za

Note Added: Monday, 07 October 2024 at 20h28

  • The market has been punishing the share since the deal was announced.

  • The share has since continued it's pullback, and is approaching it's rising 200-day SMA.

  • The structure is similar to that seen in July 2023 which offered an opportunity to buy in anticipation of a short term rebound for cash flow.

  • Running the model for this name, this is what the data says:


 

FSR FirstRand

Note Added: Monday, 07 October 2024 at 19h55

  • Sell idea in play and in the money

  • Best probability buy/sell levels shown on chart

 

JSE Top 40 Index

Note Added: Monday, 07 October 2024 at 17h44

  • Threatening a downside break of the 8-day EMA

  • Next Support 21-day EMA

  • Possibility of a test of the red zone remains.

 

SHOPRITE (SHP)

Noted Added: Monday 07-October-2024 at 17h14

 

TRUWORTHS (TRU)

Noted Added: Monday 07-October-2024 at 17h16

 

Strongest/Most Overbought/High Bullish Momentum as of the last close.

Weakest/Most Oversold/High Bearish Momentum as of the last close.

Most Dominant Buyers (Open To Close)

Most Dominant Sellers (Open To Close)

 

FX: EURO/U.S. DOLLAR (EUR/USD)

Noted Added: Monday 07-October-2024 at 17h59

  • Trading into the 21-week EMA + 75-EMA

  • Minor rebound possible at or around current levels


Lester Davids

Analyst: Unum Capital

 

Unum Research Attains 3rd Place In The 2024 Securities Broker Awards.

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