JSE Internal Rotation

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

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The JSE structural breadth is currently showing a significant migration toward the "Fade Zone" and "Chase Risk" quadrants. Over the last 24 hours, Omnia (OMN) has surged further into the extreme upper right, with momentum alignment that is statistically unsustainable. Similarly, Sasol (SOL) remains pinned to its structural ceiling, warning that institutional sellers are likely seeking exit liquidity.

Conversely, we are seeing the "Capitulation" zone thinning out slightly, as shares like Lighthouse (LTE) and Mr Price (MRP) begin to base-build at their floors. The "Pullback Zone" (Top Left) remains the highest-probability area for entries; notably, Richemont (CFR) and Absa (ABG) are showing signs of noise-exhaustion while maintaining their macro anchors, positioning them for potential rebounds if the daily flow stabilizes.

Lester Davids

Senior Investment Analyst: Unum Capital