This JSE Sector Is Staging A Major Breakout

Lester Davids
Jan 11
2 min read

Research Notes January 2026 > https://www.unum.capital/post/rjan2026

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JSE Sector Comparative Analysis:

Period: 31 Dec 2025 vs. 09 Jan 2026

Coal Miners: 🟢 Major Breakout. The standout performer of the new year. Short Term momentum rocketed from "Neutral" to "High Bullish / Approaching Overbought," and Medium Term upgraded to "Strong." A dormant sector has woken up violently.

Platinum Miners: 🟢 Trend Acceleration. The Medium Term signal heated up from "Strong" (Dec 31) to "High Bullish Momentum." The structural uptrend is gaining speed, though Short Term momentum has paused (Neutral).

Miners (Div): 🟢 Strength Building. Medium Term improved from "Neutral" to "Strong," aligning with the existing "Strong" Short Term signal. The trend has widened and deepened.

Chemicals: 🟢 Deep Value Awakening. Significant improvement. Medium Term stabilized (Weak → Neutral) and Short Term momentum shifted to "Strong." A potential turnaround for a distressed sector.

Hospitals: 🟢 Defensive Rotation. Short Term momentum improved from "Neutral" to "Strong," indicating fresh capital inflows into this defensive laggard.

Consumer Staples: 🟢 Safety Bid. Short Term upgraded from "Neutral" to "Strong," confirming a rotation into defensive assets during the first week of the year.

Telecoms: 🟢 Trend Confirmation. Medium Term upgraded from "Neutral" to "Strong," validating the breakout. The sector now holds "Strong" ratings on both Medium and Short term horizons.

Gold Miners: 🟡 Stabilization. Short Term momentum improved from "Weak" (Dec 31) to "Neutral," halting the immediate correction. The long-term "High Bullish" structure remains intact.

Banks: ⚪ Stagnation. No change. Despite mid-week volatility, the sector ended the period exactly where it started: "Neutral" across all three timeframes.

Luxury Goods: ⚪ Drifting. No change. Remains stuck in a "Weak" long-term trend with "Neutral" shorter-term signals offering no directional bias.

Paper & Pulp: ⚪ Value Trap. No change. "Oversold" on the Long Term, but continues to print "Weak" and "Neutral" signals on shorter timeframes.

Technology: ⚪ Distress. No change. Remains stuck with "High Bearish Momentum" in the Medium Term and "Weak" signals elsewhere.

Insurers: 🔴 Deterioration. Short Term momentum failed, dropping from "Neutral" back to "Weak." The sector is struggling to attract bids compared to Banks.

Consumer Disc.: 🔴 Crash Continues. Deteriorated further. Medium Term momentum worsened from "Weak" (Dec 31) to "High Bearish Momentum" (Jan 09), confirming the downtrend is accelerating.

JSE Sectors: End of day > 09 January 2026