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Writer's pictureLester Davids

TRADER'S TOOLBOX: Absa's 3 Major Turning Points - Tuesday, 20 August 2024

Pre-Market


The major turning points in the share were late March, mid June and early in August. These 2 longs and 1 short triggers helped traders position for the subsequent moves to take advantage of cash-flow generating opportunities.


BUY/LONG

  • Discussed in detail, along with the Tactical Trading Guide on Monday, 25 March.

  • The charts below are also adjusted to include dividends.


Short/Sell (Reading/Chart 1)

  • Warning that a buy/long was unappealing.


Short/Sell (Reading/Chart 2)

  • Alerting to a 1 to 2 day/week short/sell setup.


Buy/Long - Monitor For Bullish Reversal Opportunity

  • V-Shaped reversal followed by massive gap up during yesterday's session (earnings release).



Clients of Unum Capital are often alerted to key technical developments which include readings from the Tactical Trading Guide. This acts as a guide which helps to identify both opportunities and risk. To become a client, contact the Unum Capital Trading Desk: E-mail: tradingdesk@unum.co.za| Call: 011384 2923


Lester Davids

Analyst: Unum Capital

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