ARE YOU SURPRISED That Mr. Price Is Experiencing Post-Rally Weakness? Don't Be.

Monday 02 December 2024 (Pre-Market)

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Over the past few sessions, there has been around R12 to R15 that was to be made by trading Mr. Price shares.

Following the sharp 'continuation rally' on the back of it's results, the share entered overbought conditions, with the end of day model reading on 21-November as follows:

• 1. SHORT TERM (1 to 10 days): 'Extremely Overbought. Monitor the lower time frames (1H, 4H etc) for a early signs of weakness for a pullback to the 8-day EMA'

  
  

• 2. MEDIUM TERM (2 to 4 weeks): 'Extremely Overbought. Monitor the lower time frames (1H, 4H etc) for a early signs of weakness for a pullback to the 8-day EMA'

  
  

• 3. LONG TERM (5 to 8 weeks): 'Would not enter a buy/long here, the reward-to-risk is unattractive'.

MRP Chart as of Friday morning at 10h37

Technology + Proprietary Insights has helped to develop automated tools and strategies that are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This page highlights readings from the analyst's Tactical Trading Guide (Price Action Tool). The tool provides automated price analysis of over 90 JSE-listed equities across 17 sectors and across 3 time frames: short (short term), medium (medium term) and long (long term). Readings are subject to change, based on the development of the subsequent price action.

Lester Davids

Analyst: Unum Capital