Ninety One Ltd: Actionable Areas

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

Trade Local & Global Financial Markets with Unum Capital.

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

From it's recent low of 2680c (Monday 07 April), the share rallied by 41% to a high of 3804c from which it had started to lose upward momentum in an overbought range. At current levels the share is in a 'strong' regime with the price above the rising 21-day EMA and 75-day EMA. For new longs, at or around the 75-day EMA (approximately 3438c to 3496c) would be provisional next best-probability buy range while a print into 4028/4098c is a provisional next best-probability sell range.

INTO the most recent low (Monday 07 April) traders were prepared for opportunity with the long term reading (5 to 8 weeks) stating the following: "The reward-to-risk is becoming attractive for a small buy/long position" . The time-stamped reading is shown below the chart:

Lester Davids

Senior Investment Analyst: Unum Capital