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📌Research: 14 - 18 April 2025

  • Writer: Lester Davids
    Lester Davids
  • Apr 13
  • 6 min read

Updated: Apr 17

OPENING THOUGHT: "Comparing this week's market breadth readings to last week's, we observe a significant shift in market conditions. The number of constituents in oversold territory has dropped dramatically from 40 to 0...the market has transitioned from a state heavily skewed towards a potential near-term buying opportunity to a more balanced condition with a significant neutral component". This is an extract from the note: 'JSE Market Breadth: Considerable Recovery'. Read the full note here > https://www.unum.capital/post/recovery


To kick off the week, the following notes have been published. Certain notes have been compiled on Friday 11 April and reflects prices as of the time of research/writing. Additional notes will be added to this page throughout the course of the week, as and when key developments and opportunities are identified. To open a trading account and/or move from your existing service provider, email tradingdesk@unum.co.za


  1. Brent Crude Oil: Short Term Traders Gain 10 - 13% https://www.unum.capital/post/oiltenpct

  2. Offshore: Wheaton Precious Metals - Target Exceeded https://www.unum.capital/post/wheaton

  3. Old Mutual https://www.unum.capital/post/omuupdte

  4. Anglo American Platinum https://www.unum.capital/post/amplatsmodel

  5. Price Action Commentary: Short & Medium Term https://www.unum.capital/post/prcmnt

  6. Pairs Trade Idea: Long RESI / Short FINI Now +50% https://www.unum.capital/post/sectorpairs

  7. Sibanye Stillwater: Running +60% https://www.unum.capital/post/sixtypct

  8. 🟩 Live Commentary (Various) https://www.unum.capital/post/live16042025

  9. New Gold Issuer: Reaches Record Level; Now +122% https://www.unum.capital/post/gld58

  10. Price Action Commentary: Short & Medium Term https://www.unum.capital/post/pracmnt

  11. The 4 Trades You Missed (Including Northam Platinum) https://www.unum.capital/post/dontmissed

  12. How To Trade: Sibanye Stillwater https://www.unum.capital/post/httssw

  13. FX: GBP/USD https://www.unum.capital/post/pndllr

  14. The Share Dipped Into Oversold, Then Rallied By 29% https://www.unum.capital/post/twninepct

  15. EUR/USD Extended vs 75-EMA https://www.unum.capital/post/eurext

  16. FirstRand: Bank/Take Profit; Running 19 to 21% https://www.unum.capital/post/bankfsr

  17. US Sector Breadth: Current Leadership https://www.unum.capital/post/sctrbreadth

  18. Impala Platinum https://www.unum.capital/post/trdimp

  19. Spot Gold (XAU/USD) https://www.unum.capital/post/sptgold

  20. One Week, 11000 Points: Our Research Is Your Opportunity https://www.unum.capital/post/11000pts

  21. Price Action Commentary: Short & Medium Term https://www.unum.capital/post/pricomm

  22. USD/ZAR: 21-EMA in Focus https://www.unum.capital/post/zarbelow19

  23. Truworths | AVI | Woolworths https://www.unum.capital/post/truavi

  24. South 32 https://www.unum.capital/post/sthirtytwo

  25. 🟩 Live Commentary (Various) https://www.unum.capital/post/livemon1404

  26. Absa | Old Mutual | Bidvest | Sappi https://www.unum.capital/post/volopty

  27. U.S. Dollar: Overbought to Oversold + Updated Model Reading https://www.unum.capital/post/dxyoso

  28. JSE Top 40 Index: +10000 Point + Updated Model Reading https://www.unum.capital/post/fortyten

  29. JSE Market Breadth: Considerable Recovery https://www.unum.capital/post/recovery

  30. Top 40 Index: 9000 Point Rally; Oversold To Neutral https://www.unum.capital/post/fortyntrl

  31. USD/ZAR: Zooming In (S/Term) https://www.unum.capital/post/zapullback

  32. USD/ZAR: Zooming Out (L/Term) https://www.unum.capital/post/zarplain

  33. JSE Relative Sector Summaries https://www.unum.capital/post/sectsumma

  34. US500/US30: Sharp Rally Off Risk Reading https://www.unum.capital/post/riskrally

  35. 4x High Demand / Approaching Overbought (Weekly (T/F) https://www.unum.capital/post/hidmnd

  36. 5x Overbought (Weekly (T/F) https://www.unum.capital/post/fiveobo 

  37. Standard Bank: Actionable Areas https://www.unum.capital/post/sbkacta

  38. Mondi Plc: Actionable Areas https://www.unum.capital/post/mnpaction

  39. MTN Group: Actionable Areas https://www.unum.capital/post/mtnactionable

  40. Spar | Northam Platinum | Shoprite https://www.unum.capital/post/actionareas

  41. High Impact: U.S. Relative Sector Analysis https://www.unum.capital/post/usrelsect

  42. Richemont: Short/Long; Gap Filled + Rebound https://www.unum.capital/post/cfrebound

  43. Price Action Commentary: Short & Medium Term https://www.unum.capital/post/pricmt

  44. 14 Months Later It's Higher By 50% https://www.unum.capital/post/stxresfifty

  45. JSE Gold Miners: Two Charts of Interest https://www.unum.capital/post/goldmnrs

  46. Update: VanEck Junior Gold Miners (GDXJ) Approaching Target https://www.unum.capital/post/gdxj-etf

  47. Update: VanEck Gold Miners ETF (GDX): Running 42% https://www.unum.capital/post/gdxforty

  48. Power Moves: Shoprite, African Rainbow, Impala & More... https://www.unum.capital/post/powermoves

  49. DRD Gold: Running 80 to 85%, Exceeding Price Target https://www.unum.capital/post/drd80

Missed Last Week's Research? (07 - 11 April). Catch Up Below:

  1. JSE Top 40 Index https://www.unum.capital/post/fortyneutral

  2. Trading US30: Lower by 1700 - 1900 Points https://www.unum.capital/post/dowdown

  3. Six Research Notes Which Helped Our Clients This Week https://www.unum.capital/post/noteshelp

  4. Price Action Commentary: Short & Medium Term https://www.unum.capital/post/pacomments

  5. Our Research, Your Opportunity: Nasdaq Rallies +10% https://www.unum.capital/post/oppspot

  6. Brent Crude Oil: Ultra Short Term Traders Score 7 to 10% https://www.unum.capital/post/brentsvn

  7. Trading US500 / S&P 500 Index / https://www.unum.capital/post/trdeus500

  8. Trading Naspers https://www.unum.capital/post/trading-naspers

  9. Trading US Dollar / Japanese Yen https://www.unum.capital/post/yenlower

  10. Trading Sibanye Stillwater https://www.unum.capital/post/sswnineapril

  11. Market Risk Index: The Weekly Reading Is Worth Noting! https://www.unum.capital/post/weeklyrisk

  12. Trading US30 Index / Dow Jones https://www.unum.capital/post/trus30

  13. Brent Crude Oil: Weekly Structure https://www.unum.capital/post/brntwkly

  14. Trading Richemont https://www.unum.capital/post/richerebound

  15. JSE Top 40 Extending Gains (+8% or +5800c Points) https://www.unum.capital/post/fortyextend

  16. Traders Score With FirstRand https://www.unum.capital/post/fsr13

  17. Trading Capitec Bank https://www.unum.capital/post/capitecaa

  18. Traders, Did You Notice This? https://www.unum.capital/post/notice

  19. Trading South 32 https://www.unum.capital/post/thirtytwo

  20. Trading Silver (XAG/USD) https://www.unum.capital/post/tradingsilv

  21. Overbought...Then Lower By 3000c https://www.unum.capital/post/obo3000

  22. Trading EUR/USD https://www.unum.capital/post/eurft

  23. Trading Spot Gold (XAU/USD) https://www.unum.capital/post/xauretreat

  24. JSE Top 40 Index: Oversold Reading Unwinds... https://www.unum.capital/post/fortyrebound

  25. Breadth Data: Oversold Goes From 40 Shares To ... https://www.unum.capital/post/breadthreward

  26. For The Session, Platinum Miners... https://www.unum.capital/post/pgmlead

  27. USD/ZAR: Ultra Short Term Sees... https://www.unum.capital/post/zarrewardrisk

  28. FirstRand Generating Cash, Rebounding 7% https://www.unum.capital/post/firstcash

  29. Prosus Generating Cash With A 5200c Rebound https://www.unum.capital/post/prosusgen

  30. April 2025: Volatility Equals Opportunity https://www.unum.capital/post/volopportunity

  31. Russell 3000 Breadth: These Charts Help Us Understand... https://www.unum.capital/post/rus3k

  32. *Helping Clients Manage Risk https://www.unum.capital/post/mngrisk

  33. *High Impact: JSE Relative Sector Ratings https://www.unum.capital/post/relasec

  34. *High Impact: U.S. Relative Sector Analysis https://www.unum.capital/post/ussectora

  35. Market Risk Index: Weekly & Monthly Time Frames https://www.unum.capital/post/riskindex

  36. S&P 500: Bear Target Reached. Post-Market Comment https://www.unum.capital/post/spybeartarget

  37. S&P 500: For Clients, This Was A Risk To Consider https://www.unum.capital/post/spyimarket

  38. Breadth: S&P 500 % Constituents Above Their 200-Day https://www.unum.capital/post/us200day

  39. Protected By Treasuries: US10Y Dips Below 3.8% https://www.unum.capital/post/usten

  40. I Was Wrong Here: Glencore Stop-Loss Breached https://www.unum.capital/post/glnstop

  41. JSE Market Breadth: After The Close https://www.unum.capital/post/breadthpost

  42. JSE Top 40 Index (-8700 Points) https://www.unum.capital/post/fortyretreat

  43. JSE Top 40 Index: Weekly Chart Analysis https://www.unum.capital/post/fortyweekly

  44. Updates: Copper | Gold | Silver | Palladium | Platinum https://www.unum.capital/post/hardcomm

  45. U.S. Sector Breadth: Leaders & Laggards https://www.unum.capital/post/ussecbrea

  46. Anglo American: Channel Resistance + Below '08 Cycle Highs https://www.unum.capital/post/anglocycle

  47. Commodity Analysis https://www.unum.capital/post/commodity-analysis

  48. From Above R80 to Below R50. Helping Clients Manage Risk https://www.unum.capital/post/whl200w

  49. Prosus: Actionable Area https://www.unum.capital/post/prxaa

  50. FirstRand: Actionable Area https://www.unum.capital/post/fsraction

  51. MTN Group: Actionable Area https://www.unum.capital/post/aamtn

  52. Shoprite: Monthly MACD Development https://www.unum.capital/post/shpmacd

  53. Standard Bank: Continues To... https://www.unum.capital/post/sbkcycle

  54. Capitec/Top 40 Ratio MACD Development https://www.unum.capital/post/cpimacd

  55. Diversified Miners: Key Level + Relative Strength https://www.unum.capital/post/minersforty

  56. Consumer Staples + Utilities: Using Sectors... https://www.unum.capital/post/staplestrength

  57. Price Action Commentary: Short & Medium Term https://www.unum.capital/post/pricecomments

  58. 17x Oversold (Weekly T/F) https://www.unum.capital/post/osoweekly

  59. 8x High Demand / Approaching Overbought (Weekly (T/F) https://www.unum.capital/post/hidemand8

  60. 15x High Bearish Mo / Approaching Oversold (Weekly T/F) https://www.unum.capital/post/highbear15

  61. 5 Themes That Unum Capital Clients Have Been Prepared For https://www.unum.capital/post/bigpic

Missed The Prior Week's Research? (31 March - 04 April). Catch Up Below:

  1. Higher by 50% in 16 Months https://www.unum.capital/post/fiftypercent

  2. Vodacom: Banking R10 https://www.unum.capital/post/vodpaid

  3. Technical Screen: Oversold + Potential Piercing Candles https://www.unum.capital/post/osopiercing

  4. JSE Market Breadth: Key Takeaways https://www.unum.capital/post/mktbreadth

  5. Now Lower by 29%: Model In Line & Meta Shorts Generating Cash https://www.unum.capital/post/meta24

  6. Amidst The Volatility, There Are Opportunities To Make Money https://www.unum.capital/post/amidst

  7. Trading Capitec. For Shorts, A 16% Decline https://www.unum.capital/post/capitec16

  8. MTN Group Shorts Generating Cash (-9%, or -1155c) https://www.unum.capital/post/mtneleven

  9. Impala Platinum Day Two of Generating Cash https://www.unum.capital/post/impdaytwo

  10. Strategy Alert: Standard Bank https://www.unum.capital/post/stratsbk 

  11. Trading Absa https://www.unum.capital/post/abgprob 

  12. Strategy Alert: Aspen Pharmacare https://www.unum.capital/post/strat-aspen

  13. Thungela Gives Gives S/T Traders A 600c Gain https://www.unum.capital/post/tga600

  14. JSE Technical Summary: Mid & Large Caps https://www.unum.capital/post/jsetechsum

  15. Truworths: Stop-Loss Breached. Idea Now Closed https://www.unum.capital/post/trusl

  16. Trading Capitec Bank https://www.unum.capital/post/cpilower

  17. Trading Foschini: Levels of Buying Interest https://www.unum.capital/post/tfglvls

  18. MTN Group: Shorts Generating Cash (-4.9%, or -626c) https://www.unum.capital/post/mtnlower

  19. Impala Platinum Paying Active Traders! https://www.unum.capital/post/impala340

  20. Trading Vodacom https://www.unum.capital/post/vodgain

  21. Trading Northam Platinum https://www.unum.capital/post/tradenph

  22. Trading Note: Impala Platinum https://www.unum.capital/post/tnimpala

  23. Price Action Commentary: Short & Medium Term https://www.unum.capital/post/pacommentary

  24. Getting Paid With Thungela Resources https://www.unum.capital/post/tgaprofit

  25. Shoprite: Trading 1000c Higher https://www.unum.capital/post/shp1000c

  26. [Offshore] Altria: Running +9% https://www.unum.capital/post/altria-running

  27. JSE Market Breadth: Key Takeaways https://www.unum.capital/post/sabreadth

  28. Buy Idea https://www.unum.capital/post/buy-unlock 

  29. Unum Capital Commentary For Bloomberg https://www.unum.capital/post/unumbbg

  30. How To Bank 100 Points (S&P 500 Index) https://www.unum.capital/post/100points

  31. Top 10 Weakest Shares / Low Demand https://www.unum.capital/post/bottomtenweak

  32. Top 10 Strongest Shares / High Demand https://www.unum.capital/post/toptenstrong

  33. JSE Top 40 Index: Retreating From Inflection Point https://www.unum.capital/post/topfortyindex

  34. Thungela Resources: Have You Considered This Angle https://www.unum.capital/post/thungela-angle

  35. Brent Crude Oil Running +7.8% https://www.unum.capital/post/crude-7pct

  36. Global Utilities. Positioned For Alpha (3-Month High)  https://www.unum.capital/post/jxialpha

  37. Trading USD/ZAR https://www.unum.capital/post/tradusdzar

  38. Van Eck Gold Miners ETF Running +33% https://www.unum.capital/post/gdxetf-running

  39. Trading The Numbers: U.S Non-Farm Payrolls https://www.unum.capital/post/tradingpayroll

  40. Market Risk Index: Weekly & Monthly Time Frames https://www.unum.capital/post/mktrisk

  41. [High Impact] JSE Relative Sector Ratings https://www.unum.capital/post/sectorsum

  42. [High Impact] U.S. Relative Sector Analysis https://www.unum.capital/post/ussectr

  43. US Tech: Why Ratio Charts Are A Part Of Our Process https://www.unum.capital/post/positioning

  44. The Bigger Picture: 5 Themes That Unum Capital Clients... https://www.unum.capital/post/5themes

  45. Trading S&P 500 Index https://www.unum.capital/post/spxchannel

  46. Yields Down, Price Up. Well Done Bond Buyers https://www.unum.capital/post/yields-down

  47. Gold: Long Term Inflection Point https://www.unum.capital/post/gold-trend

  48. U.S. Sector Breadth: Leaders & Laggards https://www.unum.capital/post/ussctbreadth

  49. Trading Richemont https://www.unum.capital/post/trade-cfr

  50. Trading Sasol https://www.unum.capital/post/trading-sasol

  51. Trading British American Tobacco https://www.unum.capital/post/trading-british

  52. Trading Naspers & Prosus https://www.unum.capital/post/npnprx 

  53. Trading JSE Insurers https://www.unum.capital/post/trd-insurers

  54. '...And Then I Sold The Share For A Profit...' https://www.unum.capital/post/foraprofit

  55. Investec: Unwinding From Long Term Resistance https://www.unum.capital/post/inlzoom

  56. Sibanye: After a 40% Rally, Here's What The Data Says https://www.unum.capital/post/sibanye-forty

  57. Telkom: Well Done Longs. Now 63% Higher + Overbought  https://www.unum.capital/post/telkom-sixty

  58. Glencore Relative To Copper https://www.unum.capital/post/glencore-copper

  59. Richards Bay Coal Futures https://www.unum.capital/post/rbcoal

  60. JSE Gold Miners: After a 60% Rally, Here's What The Data Says https://www.unum.capital/post/minersixty

  61. These 3 Shares Closed In Overbought Territory https://www.unum.capital/post/3xobo

  62. Price Action Commentary: Short & Medium Term https://www.unum.capital/post/pamodel

  63. Zooming Out: Harmony Gold https://www.unum.capital/post/zoom-har

  64. Zooming Out: PGM Miners / Top 40 Index https://www.unum.capital/post/zoom-pgm 

  65. 8x High Demand / Approaching Overbought (Weekly (T/F) https://www.unum.capital/post/bullmoweek

  66. 8x High Bearish Mo / Approaching Oversold (Weekly T/F) https://www.unum.capital/post/hibearmoweek  


Lester Davids

Analyst: Unum Capital

Archive / Year-To Date Research Links:


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