💡Glencore Plc: How To Trade It

Research Notes March 2026 > https://www.unum.capital/post/rmar2026

Trade Local & Global Financial Markets with Unum Capital.

To get started, email tradingdesk@unum.co.za

Published Sunday 29 March for Monday, 30 March.

An existing buy/long idea from 6547c (see chart reference), the share reached our long term target of 9400c (the 200-week SMA). Since then, the upward momentum has continued with the share outperforming it's JSE-listed peers and trading above R120. On the monthly time frame, the share is trading in an 'OVERBOUGHT' range. On the weekly, a 'HIGH BULLISH MOMENTUM / APPROACHING OVERBOUGHT' regime is in place while on the daily time frame, a 'STRONG' regime is in place. An upside extension from current levels is likely to place the share in an OVERBOUGHT range on the weekly and monthly time frames and 'APPROACHING OVERBOUGHT on the daily time frame. What's the risk of buying now? Overbought conditions could start to come into play. What's the risk of sell now? Strong upward momentum can remain in place longer than anticipated.

Lester Davids

Senior Investment Analyst: Unum Capital