Search this site

In addition to the local names I cover, I also scan for opportunities in offshore market. Two picks that have worked in my favour have been South Korea's SK Hynix and India's Mahindra and Mahindra . These were very similar, if not identical technical setups that offered a momentum play over many months. Below are the charts from TradingView which shows how these buy/long ideas have developed. The green shaded area is the time period after I published the ideas. Dis-Chem Pharmacies, in my view, has a similar structure. Is it setting up for a similar move? The candle structure is improving and the share has traded in a sideways range, having shown little advancement since Q1. A weekly close above 3451c could be a trigger for further upside momentum. 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

🔔Market Minutes Alert A new comment has been added to the my notes. Click on the following link to access the page: https://www.unum.capital/post/market-minutes 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

🔔Market Minutes Alert A new comment has been added to the my notes. Click on the following link to access the page: https://www.unum.capital/post/market-minutes 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

🔒 PREMIUM VIEW MY CUSTOM SCREEN WHICH DISPLAYS WHERE A SHARE RANKS IN TERMS OF TECHNICAL MOMENTUM 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

Reaches high of 54934c. The original view was discussed here: https://www.unum.capital/post/looking-for-rebound-in-this-resource-counter-tuesday-25-june-2024 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

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

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

A new comment has been added to my notes. Click on the following link to access the page: https://www.unum.capital/post/market-minutes 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

To access the research report, e-mail lester@unum.co.za

ORIGINAL POST PUBLISHED HERE: https://www.unum.capital/post/trade-alert-aud-usd-tuesday-25-june-2024 Lester Davids Analyst: Unum Capital

The idea on Monday 24 June was to wait for a pullback into the rising 8 and 21-day EMA range which would be a range for short term traders to re-accumulate on the buy/long side. We saw the index trade into this range by Thursday (27 July) which was followed by a rebound, a consolidation and then another rebound to trade and close near all-time highs. Traders are always encourage to use multi-day advances to sell into strength. At the current level, the index trades at/around a horizontal resistance level that has been tested on four (4) previous occasions. When one accounts for the long upper wicks, this range is from 73971 to 74346. The long upper wicks represent distribution i.e. selling when the market reaches this range. While we could see the market consolidate or pull back slightly at current levels, it should not surprise traders if a new phase of upward momentum re-emerges. Zooming out, the broader structure notes the development of a cup and handle technical formation. Lester Davids Analyst: Unum Capital

NOTE: There is a lack of shares (read: zero) in a high bearish momentum / approaching oversold phase. In addition, no shares are in oversold territory. The table below represent the weakest in the market (but certainly not deeply oversold). Lester Davids Analyst: Unum Capital