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Research Notes For 28 July to 01 August > https://www.unum.capital/post/r2801august Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Previous Post (01 July): US Dollar Index: Extended To The Downside vs 200-Day SMA + Approaching Oversold Monthly & Weekly Time Frames The chart considers the distance of the index vs it's 200-day SMA. At current levels the index is close 7% below it's 200-day, a distance (%) that has previously coincided with either the start of a consolidation phase, or a rebound. Multi-Time Frame Regime Snapshot S&P 500 Index vs US Dollar Index Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 28 July to 01 August > https://www.unum.capital/post/r2801august Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 28 July to 01 August > https://www.unum.capital/post/r2801august Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za If one excludes Capitec then the relative performance is even worse. Previous Post (11 March): Trading at a 7 1/2 relative month low + clients positioned for alpha. Well done to clients who used the relative overbought conditions to sell South African banks. The initial idea was floated on 02 December (hence the two arrows (date references). Update: Our idea on 10 December was to rotate out of JSE banks (relative to the broader market). Today, the share trades at a 5-month relative to the JSE Top 40 Index. Previous Post: JSE Banks Are Overbought On A Relative Basis. Consider Rotating Out (10 December 2024) JSE Banks Relative To JSE Top 40 Index Previous Post: Monday 02 December 2024 (Pre-Market) This chart is available to NON-CLIENTS of Unum Capital. Specifically, if you are: New to financial markets and looking to start your trading journey. An experienced trader, but looking to elevate your trading. Interested in an ACTIVE TRADING approach. Interested in a high quality, award-winning research. Interested in insights that informs and identifies both risks and opportunities. Should you you fit into any of the above categories, we would love a few minutes of your time to be able to further explain why you should consider Unum Capital your trading partner. To access, e-mail your name and contact details to   lester@unum.co.za    To open a trading account, e-mail   lester@unum.co.za    Key Features of Chart: Trading at the upper boundary of a multi-year rising channel Technical Regime: Medium term (Weekly Chart) = High Bullish Momentum / Approaching Overbought RANKED & RECOGNIZED: Unum Research Attains 3rd Place In The 2024 Securities Broker Awards In September 2024, Unum Research was recognized for it's capabilities.  Among well-respected boutiques and ahead of household giants such as FNB and Nedbank, the unit attained 3rd place for the period under review. Commenting on the award, Analyst: Lester Davids remarked: "The award speaks to the high quality of output being recognized by our valued clients as well as the consistency of insights and actionable opportunities that has been delivered over the past 8 years." Lester Davids Analyst: Unum Capital

Research Notes For 28 July to 01 August > https://www.unum.capital/post/r2801august Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Previous Post (18 July): Rhodium ETF: Early Stages of Accelerating Price Momentum / Cup & Handle In Development 1NVESTRHODIUM ETF - Triggers above 106,100 Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 28 July to 01 August > https://www.unum.capital/post/r2801august Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Daily: Overbought Weekly: Overbought Month: Overbought The share is OVERBOUGHT on 3x time frames, meaning that while demand is high and momentum is bullish, the reward-to-risk is less favourable than in previous months. The share currently trades at the swing high of November 2021 which is a potential resistance range however, the strong candle structure also opens up 6800c to 6900c as further upside targets. The overbought conditions lean toward shorts/sells however the strategy requires careful timing as upside momentum may persist. Look for weakening momentum on the lower timeframes i.e. 1H, 2H, 4H and daily etc. Over the 11 months, the share has appreciated by 150%, printing multi-year highs. If you've been long off the strategy alert, consider reducing into strength. Current Price Action Model Reading: Previous Post: Strategy Alert (16 August 2024) Pre-Market Ticker: TKG Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 28 July to 01 August > https://www.unum.capital/post/r2801august Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za JSE Ltd: The Exchange Is Finding Momentum - Monday, 23 September 2024 Pre-Market Ticker: JSE Technical Drivers: (1) Above the 200-day EMA (2) Double break as per the weekly (3) nearing the top of it's 3-year range Fundamental driver: (1) improved business confidence (2) increased trading activity Medium to long term targets: 13600c, 15000c Structure invalidated on a weekly close below 10800c Lester Davids Analyst: Unum Capital

Research Notes For 28 July to 01 August > https://www.unum.capital/post/r2801august Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za MTZ is an American infrastructure construction company that builds, installs, and maintains systems for the communications, clean energy, and utility industries. Buy $185.00 - $189.00 Target: $215 to $222 Stop-loss: 169.00 Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 28 July to 01 August > https://www.unum.capital/post/r2801august Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 28 July to 01 August > https://www.unum.capital/post/r2801august Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 28 July to 01 August > https://www.unum.capital/post/r2801august Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Designs and sells multilayer network switches to deliver software-defined networking for large datacenter, cloud computing, high-performance computing, and high-frequency trading environments. Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 28 July to 01 August > https://www.unum.capital/post/r2801august Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 28 July to 01 August > https://www.unum.capital/post/r2801august Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Our last post on SBK came to the following conclusion: " The model points to a general downward trend for the share price in the immediate future, with the potential for a long-term reversal at or just below the 50-week EMA." Subsequently, the share consolidated, undercut the 50-week EMA before reclaiming the level with a bullish reversal. Previous Post (19 June) Overall Trading Considerations: Dominant short-term weakness:  Both short and slightly longer short-term trends are negative, signaling continued downward pressure. Patience is key:  The model strongly advises against entering new positions in the short to medium term, emphasizing the need to wait for price stabilization. Long-term conditional opportunity:  A potential buying opportunity may arise in the longer term, but it is strictly conditional on the price finding support at a key technical level (50-EMA) and subsequently showing signs of a rebound. Overall Trading Considerations Here's a breakdown of the current price action for Standard Bank (SBK) : The 7-day trend is indicated as "Weak," while the 14-day trend is "Bearish." Comparison:  The short-term (7-day) weakness is confirmed and intensified by the "Bearish" 14-day trend. This alignment suggests consistent and building downward pressure on the price across these initial timeframes. The recent weakness is part of a broader negative sentiment. Potential Trading Approach Short Term (Approximately Next 1 to 10 Trading Days):  The model notes, "Very Weak Wait Until It Stabilizes On The Lower Time Frame." Approach:  The outlook is explicitly weak. The recommended approach is to take no action and remain on the sidelines. Traders should wait for the price to show clear signs of stabilization on a lower timeframe before considering any new positions. This indicates a high-risk environment for both buyers and sellers. Medium Term (Approximately Next 2 to 4 Weeks):  The model indicates, "Very Weak Wait Until It Stabilizes On The Lower Time Frame." Approach:  The medium-term outlook mirrors the short-term view, suggesting that the period of pronounced weakness is expected to persist. The strategy remains the same: to wait for the price action to consolidate and form a base, signaling that the downward momentum may be subsiding. Long Term (Approximately Next 5 to 8 Weeks):  The model states, "Steady Upward Trend But Weaker On Lower Time Frame Look For Support At Or Just Below 50-EMA Followed By A Reclaim To Trigger Rebound Buy." Approach:  Despite the short-term weakness, the underlying long-term trend is viewed as steadily upward. The current price action is seen as a pullback within that larger trend. The recommended strategy is to watch for the price to find support at or slightly below the 50-period Exponential Moving Average (EMA). A buying opportunity, or a "rebound buy," would only be triggered after the price finds this support and then decisively moves back above ("reclaims") that level. In summary, the current view is bearish for the short to medium term. However, long-term investors should monitor for a potential rebound opportunity off the 50-WEEK EMA after the current period of weakness subsides. The model points to a general downward trend for the share price in the immediate future, with the potential for a long-term reversal at or just below the 50-week EMA . Lester Davids Senior Investment Analyst: Unum Capital