Update: Zooming Out On These 5 Monthly Charts - Wednesday, 11 September 2024

This is an update on the subsequent share price developments, with the original charts and updated comments shown.

Monthly charts allow us to zoom out in order to gain a broader perspective on multi-year trends as well as identify significant technical developments.

Below are five monthly charts with significant technical developments:

Tiger Brands (TBS) | Looking to emerge from a multi-month base (bullish bias)

• View: Bullish

• Share Price Since: Higher

BHP Group (BHG) | Pending breach of multi-year incline support (bearish bias)

• View: Bearish

• Share Price Since: Lower, from R501 to R457

Standard Bank (SBK) | Nearing multi-year swing highs (bullish trend but pending bearish bias as the highs could act as a resistance zone)

• View: Pending Bearish - Saw higher levels of R233-237 as resistance

• Share Price Since: Traded slightly higher, but has struggled to make major gains.

Old Mutual (OMU) | Looking to emerge from a multi-month base formation

• View: Bullish

• Share Price Since: Higher, continues to hold near resistance highs.

Kumba iron Ore (KIO) | Pending breach of incline support

• View: Bearish

• Share Price Since: Lower, from R397 to R314

Lester Davids

Analyst: Unum Capital