Trading Kumba Iron Ore

Research Notes For 19 to 23 May > https://www.unum.capital/post/r1923may

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The share has rebounded from it's recent lows of R255 to a high of R333 which has been followed by a consolidation phase. While lower levels are possible, traders should remain alert for a potential change of character which could help trigger a bull flag technical formation. Here, a break of the short term downward trending channel (with strong candle structure and volume) would be an early indication of renewed buying interest. An immediate break of 31430c to 31792c would open the way for 34800c (1st target) followed by 37100c (2nd target). Stop-loss: TBD. Should we see lower levels from the last close, new triggers will be formed.

Previous Post (23 January): Kumba Iron Ore: Declining Close To R20 (R368 to R349)

Update on previous post where I discussed the extension vs VWAP https://www.unum.capital/post/kio-extended-vwap

Updated chart below.

Previous Post: Kumba Iron Ore: Technically Extended vs YTD Anchored VWAP (Short Term/Active Traders Consider Reducing)

KIO was recently featured as a bullish opportunity (07-January) at around R325. It has since rallied to above R370. Original Post Here: https://www.unum.capital/post/200d-tbs-out-more

Analyst's Price Action Model

Lester Davids

Analyst: Unum Capital