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  • Lester Davids

Research: Insights & Opportunities - Monday, 04 March 2024

Updated: Mar 3

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Lester Davids

Analyst: Unum Capital


➡️ Monday 04-March-2024, 06h30 | Top 5 Leading & Lagging Sectors, as of Friday's close.

➡️ Monday 04-March-2024, 06h30 | Technical Summary: Mid & Large Caps, as of Friday's close.


➡️ Monday 04-March-2024, 06h30 | JSE Relative Sector Regimes, as of yesterday’s close. To view the data set click on the following links: Chart #1 | Chart #2 | Chart #3

➡️ Monday 04-March-2024, 06h30 | JSE Relative Sector Regimes: How Traders Are Using This To Understand The Environment and Position For Opportunities | At times, it’s a sector picker’s market and on that basis, it may be useful to understand which sectors are working, which sector are not, and where to be positioned. Relative, or ratio charts as it is sometimes known, helps market participants to compare the performance of two instruments with the primary aim of ascertaining whether one is outperforming the other. For example, a ratio chart can help understand whether Banks or Insurers are under-performing or outperforming Top 40 index. This can help a trader/investor recognize the potential risk or opportunity and help position to be underweight, overweight or equal weight.

➡️ Monday 04-March-2024, 06h30 | JSE Relative Sector Ratings, as of Friday’s close.

➡️ Monday 04-March-2024, 06h30 | Tactical Trading Guide (Share Commentary): Largest 40 Shares By Market Cap. Click here to access the data set =>

➡️ Monday 04-March-2024, 06h30 | Strategy Screen | Long Term (5 to 8 weeks): Aggressive buying but early signs of upward momentum possibly slowing. Could pull back to the 8 or 21-EMA. Ticker: ADH    

➡️ Monday 04-March-2024, 06h30 | SHP Shoprite Holdings | Continues to unwind from it’s early January highs. On 05 January I discussed the share trading at multi-year swing highs (potential resistance at the time) as well as the 14-week RSI signaling a negative divergence. We have since seen the share unwind from R270 to a low of around R255. The share is trading near a 3-month low, with the R255 horizontal support level at risk of being breached. Note: ‘Event risk’ in the form of earnings, with the group set to report on Tuesday 05 March. The group remains a sector leader, having continuously taken market share from it’s peers thus the current valuation appears to be justified. It should however be noted that any negative surprise or below-consensus earnings/revenue forecasts could pose a risk to the valuation and share price. The share’s 200-day moving average is around R247 while the 200-week moving average is around R196. Rating: NEUTRAL      

Click here to view the chart =>

➡️ Monday 04-March-2024, 06h30 | Active Insights For Large Cap & Liquid Names |To view the chart & trading comment, click on the share => | OMU Old Mutual | AGL Anglo American Plc | SOL Sasol Ltd | NPN Naspers Ltd | CFR Richemont

➡️ Monday 04-March-2024, 06h30 | TRU Truworths International Ltd | Strong rebound (+7.92%) as per the Tactical Trading Guide. Wednesday and Thursday's end of day reading looking for a small rebound following several days of selling pressure.

➡️ Monday 04-March-2024, 06h30 | US Sector Breadth | On the right, the percentage of sector constituents above their 20-day moving averages is shown.

  • Leaders: Energy, Technology, Industrials.

  • Laggards: Communications, Utilities, Consumer Staples

  • New Highs: 340

  • New Lows: 56

➡️ Monday 04-March-2024, 06h30 | Commodity Ratings, as of Friday’s close.


Research Philosophy: Summary

  • My overall goal is to convey my best interpretation of the most relevant market information in order for you, as a client to: (1) understand the potential opportunities and manage the potential risks and (2) make informed decisions around trading opportunities.

  • All trade insights and ideas are intended to prepare and inform the trader about potentially attractive reward-to-risk opportunities with the aim of helping the client generate cash flow as part of a broader portfolio.

  • My intention is to utilize my insights to assess the 'best probability' and consider the range of outcomes under the potential scenarios.

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