🖥️Technical Screen: Downside Momentum Slowdown (Bearish Exhaustion & Bottoming Hooks)

Lester Davids

9 minutes ago

2 min read

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

Published post-market close on Wednesday 14 October for Thursday 15 October.

Disclosure: The screen below was compiled using an artificial intelligence tool, based on my own data.

These candles and multi-day formations show sellers failing to drive price lower, marked by lower shadows, volume drying up on down-moves, or positive divergence candles near structural floors.

Kumba Iron Ore Limited (KIO) | 22,267 ZAC

Candle Structure: Multi-Day Double-Bottom Reclamation Candle (+1.21% close, +0.30% open-to-close spread).
Microstructure Shift: After an extended cyclical drawdown, price rejected lower prices at the 21,452 ZAC multi-month cycle floor for a third consecutive session and closed above its rising 8-day EMA (22,168 ZAC), indicating the primary markdown phase has stalled.
Key Inflection Level: 22,562 ZAC (21-day EMA). A confirmed hourly close above this level confirms a full Stage-1 trend reversal toward 24,824 ZAC.

Spar Group Limited (SPP) | 4,658 ZAC

Candle Structure: Bullish Counter-Trend Expansion Marubozu (+2.37% close, +2.67% open-to-close spread).
Microstructure Shift: After persistent sub-ribbon distribution down to 4,500 ZAC, sellers were overwhelmed by an aggressive intraday short squeeze. The candle closed on its highs, recapturing the 8-day, 21-day, and 75-day (4,620 ZAC) EMAs in one move.
Key Inflection Level: 4,580 ZAC. As long as dips hold above this prior breakdown floor, downward momentum is neutralized.

Nedbank Group (NED) | 28,150 ZAC

Candle Structure: Indecision Doji / Base-Defense Candle (0.00% close, 0.00% open-to-close spread).
Microstructure Shift: Following multi-week downward pressure, selling dried up completely above the secular 200-day SMA baseline (27,616 ZAC). The tape traded in a compressed 70 ZAC range with virtually zero net change, signaling downside exhaustion.
Key Inflection Level: 27,616 ZAC. Solid structural defense confirms an institutional accumulation shelf targeting 28,800 ZAC.

Vodacom Group Limited (VOD) | 15,481 ZAC

Candle Structure: Bullish Absorption Reclaim Candle (+0.58% close, +3.83% open-to-close spread).
Microstructure Shift: Price opened under pressure but was aggressively bid throughout the session, clearing the 8-day (15,353 ZAC), 21-day (15,265 ZAC), and 75-day (15,189 ZAC) EMAs to terminate the prior multi-week consolidation cascade.
Key Inflection Level: 15,260 ZAC. Holding this dynamic cluster shifts the tactical bias from distribution to accumulation.

Absa Group Limited (ABG) | 21,313 ZAC

Candle Structure: Multi-Day Basing Piercing Candle (+0.06% close, +1.01% multi-day).
Microstructure Shift: Selling volume dissipated as price printed higher lows over three sessions, successfully defending the reclaimed 8-day EMA (21,228 ZAC) and confirming a shift from active selling to Stage-1 stabilization.
Key Inflection Level: 21,200 ZAC. Holding this floor keeps the mean-reversion path open toward 22,000 ZAC.