This JSE Sector is Relative Leader But Overbought on the Monthly & Weekly Time Frames

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Analyst View: "JSE Banks relative to JSE Top 40 Index are highlighted in row #3 of the momentum dashboard (see further blow). It highlights the sector being overbought on a relative basis vs the Top 40 Index on both the monthly and weekly time frames, while shifting lower to strong on the daily time frame. While the sector is a 'relative leader', the reward-to-risk for aggressive new buy/long positions appear unappealing."

A.I-assisted graphic:

Chart: JSE Banks relative to JSE Top 40 Index:

JSE Momentum Dashboard:

Lester Davids

Senior Investment Analyst: Unum Capital