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  • Lester Davids

Research: Insights & Opportunities - Tuesday, 19 March 2024

Updated: Mar 19

To trade, or open a new account, contact the Unum Capital Trading Desk:

E-mail: tradingdesk@unum.co.za | Call: 011 384 2923


Lester Davids

Analyst: Unum Capital

 

Good day. Thank you for taking the time to visit this page. My overall goal is to provide you with leading, high quality information by conveying 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. To read my full research philosophy, please visit the following link: https://www.unum.capital/post/research-philosophy.


Tuesday 19 March 2024, 06h30 | Technical Summary: Mid & Large Caps, as of yesterday's close.



Tuesday 19 March 2024, 06h30  | JSE Relative Sector Ratings, as of yesterday’s close (Sector Rating Relative To The Top 40 Index)

 


Tuesday 19 March 2024, 06h30  | JSE Relative Sector Status and Change, as of yesterday’s close (Sector Rating Change Relative To The Top 40 Index)




Tuesday 19 March 2024, 06h30 | BHG BHP Group | Sharp pullback (in recent months), now near multi-month support with positive candle structure. The bullish reversal is also confirmation of yesterday’s reading via the Tactical Trading Guide (see below).


Pre-market Monday 18 March 2024 (yesterday)

 

Pre-market Tuesday 19 March 2024 (today)



Tuesday 19 March 2024, 06h30 | NTC Netcare | Previous Sell/Short Idea close to one year ago in April 2023 at 1630c. Now trading lower by 26% and at a multi-month support zone. Below is the yesterday’s end of day readings from the Tactical Trading Guide + the daily chart. This is setting up as a potential rebound buy/long.





Tuesday 19 March 2024, 06h30 | CPI Capitec Bank | Upside exhaustion + false breakout + deteriorating candle structure.



Tuesday 19 March 2024, 06h30 | SHP Shoprite Holdings | On 15 January I discussed the share trading at a long term resistance zone, just below R270. Now trading at R246 and on it’s rising 200-day SMA. Potential to fill gap at R240. High bearish momentum therefore one could expect lower prices before a potential rebound.


 


Tuesday 19 March 2024, 06h30 | SOL Sasol Ltd | Negative Factors = Poor Candle Structure, High Bearish Momentum. Positive Factors: Extended vs 75-EMA and 200-SMA and 200-week SMA. In addition, the 7-Day RSI is not printing a new low.



 

Tuesday 19 March 2024, 06h30 | SLM Sanlam Ltd | Nearing year-to-date support. For active traders, possible ultra short term oversold conditions could present a buying opportunity to take advantage of a potential ‘relief rebound’.   


 

Tuesday 19 March 2024, 06h30 | NPN Naspers Ltd | UPDATE: Bullish reversal following a 2-day base. Also see previous comment which highlighted the buy signal from the Tactical Trading Guide.




Tuesday 19 March 2024, 06h30 | Candlestick Formations form part of technical price charts, which are are used by market participants to interpret current demand-supply dynamics, potential price trends as well as form decisions from these inferences. The tables below highlight the following: (1) The share code (2) the candle's 'change from open’ (over 1 session) i.e. from the start of the first hour of the trading day to the end of the last hour of the trading day'. This is used to determine the strength/weakness of the candle formation i.e. the greater (+) the percentage, the stronger the candle formation and the weaker (-) the percentage, the weaker the candle formation and (3) the share's short term technical rating i.e. which phase the share is in over a 7 day period.







 

Tuesday 19 March 2024, 06h30 | Tactical Trading Guide (Share Commentary on Largest 60 Shares By Market Cap): 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 our Tactical Trading Guide (Price Action Tool) which is also available as a live tool via the telegram group. 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. Click here to access the data Tactical Trading Guide.


3 Trading Tips



Lester Davids

Analyst: Unum Capital


 

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