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PRICE MORE THAN 10% ABOVE IT'S 21-WEEK EMA. TECHNICALLY EXTENDED TO THE UPSIDE AND COULD PULLBACK IN THE SHORT TERM. PRICE MORE THAN 15% ABOVE IT'S 21-WEEK EMA. TECHNICALLY EXTENDED TO THE UPSIDE AND COULD PULLBACK IN THE SHORT TERM.

The buy trigger on end of day Monday 01 July (also highlighted in real-time on telegram) saw a healthy short term bullish reversal with the price advancing by R161 or +4.6% to yesterday's high. Note yesterday's high was the declining 21-day exponential moving average which has always been a level into which short term traders look to reduce into. The price continues to trade around it's 8-day EMA, which has started to lose downside momentum and which has previously acted a resistance on the recent downward trend. Broadly, the candle structure remains mixed, with a slightly bearish bias. I will continue to seek tradeable opportunities should the model or manual review indicate. Note: The share has unwound significantly from my sell/reduce view on 14 May (peaked two days later) and now trades within the initial accumulation range. The timestamped chart is shown below: Lester Davids Analyst: Unum Capital

Persistent below resistance. A measured move targets R242. See additional notes on chart The structure is invalid on a daily close below R202 Triggers for TBS were generated via the Tactical Trading Guide at lower levels and were previously discussed here: https://www.unum.capital/post/systematic-insights-timely-signals-from-the-tactical-trading-guide

This is an update on Hong Kong-listed, which is the major holding of JSE-listed Naspers/Prosus. A medium/long term review was completed in August 2023, which can be accessed here: https://www.unum.capital/post/tencent-holdings-700-tuesday-01-august-2023 As of 09 July 2024, the share retains a healthy technical structure, having emerged from a channel formation. For just over 2 months, the share has been in a consolidation phase, having developed a flat-bottom triangle formation where a breach of the upper boundary would trigger a buy/long continuation and where a conservative target is HK$416, followed by HK$435. Also note, the share remains above it's rising 21-week exponential moving average, which is a positive technical position. (Chart as of 07h16 South African Time) Lester Davids Analyst: unum Capital

As discussed in Monday's report, TKG was a share to monitor for a bullish reversal trade (see table below). Clients have access to the full report. 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

Bull flag formation. Medium term swing long trigger over 4039c, targeting 4396. Lester Davids Analyst: Unum Capital

Lester Davids Analyst: Unum Capital

Lester Davids Analyst: Unum Capital

Exxaro Resources (EXX) The strong candle structure means that, over the medium term, momentum has as strong chance of continuing. On Friday, 28 June, I highlighted the previous day's strong candle structure that saw the share close near the highs of the day and with the swing pivot being a trigger to add to the position. From 17668c, the share saw a strong advance, reaching a high of 19056c, which is just below a multi-week horizontal resistance level. Considering a lack of price progress year-to-date, this makes for an appealing technical setup for those with a higher time frame i.e. medium term. The projected upside target is R206. Note: We could see a short term pullback before a new break up takes place. What I published: How it's going: I previously recommended EXX as a buy at R140-R145 just under 1 year ago (August 2023). We subsequently saw a move to R205 (from August to December). 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

This week's Foretelling Friday focuses on South African miners, a sector currently showing strong momentum due to high commodity prices, improved operational efficiencies, and favourable exchange rates. However, technical indicators such as high RSI levels, stocks trading above short-term moving averages, and increased trading volumes suggest the sector is approaching overbought conditions, potentially leading to a period of profit-taking.  Notably, the J210 index, which includes the top 10 resource shares in South Africa, is down 0.5% on Monday morning.  As can be seen above, is the J210 approaching a resistance level and expected to experience profit-taking? What are your thoughts about the South African miners for the week ahead? You can participate in our poll on our social media platforms . We'd love to hear from you. 1. Will keep their upward momentum and finish the week in green. 2. Will sell-off and will finish the week lower. 3. Will hold stable and will fluctuate with commodity prices only.   Stay informed and be ready to react as Unum Trade guides you through these pivotal market developments.

My goal is to help you make money. Here's what one of our valued clients had to say about how my research and analysis has added value. 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