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VIEW ENHANCED FOR A CORRECTIVE DOWNSIDE PRICE ACTION. The overall view of downside to S3/Q remains valid that should eventually be followed by a cyclical bull trend to T2 and beyond. The current downside could be forming an A,B,C-type bear phase. Phase A has ended at S2 with corrective phase B targeting R0*. The final downside to S3 and Q will complete the bear phase and be followed by the indicated upside to at least P. R0* is now the pivotal level for the illustrated medium-term view. A break of this level will neutralise further downside. Target and Re-assessment Levels: Important Levels: R0* Primary Trend: ABC bear trend to S3, followed by impulsive gains to R2 Prevailing Trend: Gains off S2 to R0* Monthly Range: R0*/S1 Technical Rating: Medium

VIEW RETAINED FOR A CORRECTIVE PRICE ACTION. The preferred view of a bull trend to RA2*, followed by impulsive downside to S2, remains valid. The longer-term view is for wide-ranging conditions between RA2* and S2 during the initial part of 2024. The interim expected phase B bearish correction off R1 is materialising and should target S0*. The final phase C upside to RA2* will likely become a meaningful top, followed by a 1,2,3,4,5-bear trend to S1 and S2, as illustrated. S0* remains the pivotal level for the view. A breach of this level would signal a reversal in the overall bullish sentiment and trend bias. Target and Re-assessment Levels: Important Levels: RA2* and S0* Primary Trend and Target Levels: Gains to RA2*, then down to S2 Monthly Range: R1/S0* Prevailing Trend and Target Levels: Downside towards S0* Technical Rating: Medium

Introduction When it comes to investing in shares, it's crucial to be armed with the right tools and knowledge to make informed decisions. One of the most important metrics that investors use to assess the risk and return potential of equities is beta. Beta is a numerical value that measures the sensitivity of a share's price movements relative to changes in the broader market. We will delve into the concept of beta and explore its significance for share investors. What is Beta? Beta, often denoted as "β," is a statistical measure used in finance to quantify the volatility or systematic risk of a share compared to the overall market. The market, in this context, is typically represented by an index, such as the Top 40 index. The beta value indicates how much a share's price is expected to move concerning the market's movements. It helps investors understand how closely the share's performance is tied to the market's fluctuations. Interpreting Beta Values β = 1: If a share has a beta of 1, it moves in perfect correlation with the market. Its price tends to rise or fall by the same percentage as the market index. Such shares are considered market-neutral in terms of volatility. β < 1: A share with a beta below 1 is less volatile than the market. In other words, it is expected to have smaller price swings than the overall market. These shares are often referred to as defensive equities and are perceived to offer a more stable investment option. β > 1: A share with a beta above 1 is more volatile than the market. It tends to experience larger price movements, both upward and downward, compared to the market index. These shares are considered aggressive or growth-oriented investments. Risk and Return Relationship Beta plays a crucial role in determining the risk and return profile of a share. Typically, higher beta shares offer the potential for greater returns but also come with higher risk. Conversely, lower beta shares may have more modest returns but tend to be less risky and more stable during market downturns. For example, if Share A has a beta of 1.5, and the market (represented by an index) increases by 10%, Share A might be expected to rise by 15% (1.5 times the market return). Conversely, if the market falls by 10%, Share A could be anticipated to decline by 15%. How to Use Beta in Investment Decisions Diversification: Beta can help investors build a diversified portfolio. By combining shares with different beta values, investors can offset the risk of high-beta shares with the stability of low-beta shares. Risk Management: Beta assists in assessing the level of risk an investor is willing to undertake. Conservative investors might opt for low-beta shares, while those seeking higher returns might favour high-beta shares. Market Timing: Understanding beta can help investors make better decisions about when to buy or sell a share. During a bullish market, high-beta shares may outperform, while during a bearish market, low-beta shares may hold up better. Limitations of Beta While beta is a valuable metric, it does have some limitations: Historical Data: Beta is based on historical price movements, and the past may not necessarily predict future performance accurately. Market Conditions: Beta assumes that market conditions will remain constant, which is often not the case. Single-factor Metric: Beta considers only market-related risk and does not account for other factors like company-specific events or changes in industry dynamics. Conclusion Beta is a useful tool for investors to gauge the volatility and risk associated with a particular share relative to the overall market. It aids in constructing a well-balanced portfolio and managing risk according to individual investment goals and risk tolerance. However, beta should not be the sole factor in investment decisions, as it's essential to consider other aspects of a company's fundamentals and the broader economic environment to make well-informed investment choices. As with any investment analysis, it's prudent to conduct thorough research. Top 40 share beta and selected markets: The heatmap displayed below presents the constituents of the Top 40 index alongside selected major markets. This dynamic heatmap is updated daily, providing valuable insights. For added convenience, you can download the corresponding data as an Excel file. Stay informed of the latest trends and changes in the market through this user-friendly visualisation. Download the Excel file here:

Introduction In the world of share trading, understanding correlation is vital for making informed investment decisions and managing risk effectively. Correlation plays a crucial role in assessing how different shares or assets move in relation to each other, providing insights into portfolio diversification, risk management, and potential investment opportunities. We will explore the concept of correlation in share trading, its importance, and how traders and investors can leverage this knowledge to improve their strategies. What is Correlation in Share Trading? In share trading, correlation refers to the statistical relationship between the price movements of two or more shares or assets. When two shares have a positive correlation, they tend to move in the same direction – when one share's price increases, the other share's price also increases. On the other hand, a negative correlation indicates that two shares tend to move in opposite directions – when one share's price increases, the other share's price decreases. Finally, if two shares have a correlation close to zero, it suggests that their price movements are not significantly related. Measuring Correlation in Share Trading The most common method of measuring correlation between two shares is by using the Pearson correlation coefficient, just like in general statistics. The correlation coefficient ranges from -1 to 1, with the same interpretation as before: r = 1 indicates a perfect positive correlation, where the two shares move in complete harmony. r = -1 indicates a perfect negative correlation, where the two shares move in opposite directions. r ≈ 0 indicates little to no correlation, suggesting that the two shares have independent price movements. Importance of Correlation in Share Trading Understanding the correlation between different shares is crucial for several reasons: Diversification: Correlation helps traders identify assets that have low or negative correlations with each other. Diversifying a portfolio with assets that are not highly correlated can help reduce overall risk. When some assets decrease in value, others might increase, which can mitigate losses. Risk Management: High correlations among shares can increase the overall risk in a portfolio. If all shares in a portfolio are positively correlated, they are more likely to experience simultaneous declines during market downturns. By knowing the correlation between holdings, traders can optimise their portfolios to manage risk more effectively. Identifying Investment Opportunities: Traders can use correlation analysis to identify potential investment opportunities. For example, if they notice a positive correlation between two shares, they might consider one as a proxy for the other. If the correlation is negative, they may see a hedging opportunity to protect against price declines. Sector Analysis: Correlation analysis can help traders understand the broader movements within specific sectors or industries. For example, in a technology-heavy sector, many shares might be positively correlated, and understanding this can influence investment decisions within that sector. Limitations of Correlation in Share Trading While correlation is a valuable tool, it has its limitations: Changing Market Conditions: Correlations between shares can change over time due to shifts in market dynamics, economic conditions, or company-specific events. Traders need to monitor correlations regularly and be prepared for them to evolve. Limited to Linear Relationships: Correlation measures linear relationships between variables. Some shares may have non-linear relationships, making it important to consider other forms of analysis alongside correlation. Causation Concerns: As always, it's essential to remember that correlation does not imply causation. Just because two shares are correlated does not necessarily mean that one share causes the price movement of the other. Conclusion In share trading, understanding correlation is a powerful tool for making informed decisions, managing risk, and optimising investment portfolios. By analysing the relationship between different shares, traders can diversify their portfolios effectively, identify hedging opportunities, and navigate changing market conditions more intelligently. However, correlation should always be used in combination with other forms of analysis, and traders must be cautious about drawing causal conclusions solely based on correlation. With a solid understanding of correlation, traders can navigate the dynamic world of share trading with greater confidence and success. Top 40 share correlation and selected markets The heatmap displayed below presents the constituents of the Top 40 index alongside selected major markets. This dynamic heatmap is updated daily, providing valuable insights. For added convenience, you can download the corresponding data as an Excel file. Stay informed of the latest trends and changes in the market through this user-friendly visualisation. Download the Excel file here:

Introduction In the world of equity market analysis, traders and investors often seek to identify promising investment opportunities by evaluating the performance of various shares. One valuable tool that aids in this analysis is the Relative Rotational Graph (RRG). RRG is a graphical representation that helps investors understand the relative strength and momentum of different shares within a given market or sector. What is a Relative Rotational Graph (RRG)? A Relative Rotational Graph is a visual representation of the relative performance of shares in comparison to a benchmark index or a specific group of shares. The graph plots individual shares as data points and illustrates their movement over time, relative to the benchmark. The positioning of each share on the graph provides crucial insights into its relative strength, momentum, and potential investment opportunities. How RRG Works: The Four Quadrants The RRG chart is divided into four quadrants, each representing different stages of relative performance: Leading (Leading Quadrant): Shares in this quadrant are exhibiting strong relative strength and positive momentum compared to the benchmark. They are outperforming the broader market or sector and are considered leaders in terms of price performance. These shares are regarded as potential Profit takes or Holds candidates. Weakening (Weakening Quadrant): Shares in this quadrant are experiencing a decline in relative strength compared to the benchmark. While they might still be in an uptrend, their momentum is slowing down, and they may be losing some of their leadership positions. These shares are classified as potential Deteriorating candidates or short-selling. Lagging (Lagging Quadrant): Shares in this quadrant are underperforming the benchmark. They are experiencing weak relative strength and may be struggling compared to other shares or the broader market. These shares are classified as potential Avoid candidates. Improving (Improving Quadrant): Shares in this quadrant are showing signs of improvement in relative strength, indicating that they are gaining momentum and starting to outperform the benchmark. These shares are considered as potential Buy candidates. Interpreting RRG for Investment Insights When analysing a Relative Rotational Graph, traders and investors can draw several meaningful conclusions: Identifying Leaders and Laggards: RRG helps investors quickly identify which shares are leading the market's upward trends and which are lagging behind. Leading shares in the Leading Quadrant might be attractive investment candidates, while those in the Lagging Quadrant could warrant closer examination to understand potential weaknesses. Spotting Trend Reversals: A changing position of a share on the RRG can signal a potential trend reversal. For example, a share moving from the Weakening Quadrant to the Improving Quadrant may indicate a shift in momentum and an upcoming upward trend. Diversification Insights: RRG can assist in portfolio diversification by highlighting shares that exhibit a low correlation with the benchmark. Adding shares with diverse movement patterns can help reduce overall portfolio risk. Monitoring Sector Rotations: RRG is especially useful for sector rotation strategies, where investors rotate their investments based on the relative strength of sectors. It helps identify which sectors are currently leading or lagging in the market. Limitations of RRG While RRG is a valuable tool, it is essential to recognize its limitations: Historical Performance: RRG is based on past price data and may not always predict future movements accurately. Not a Standalone Indicator: RRG should be used in conjunction with other technical and fundamental analysis tools for comprehensive decision-making. Volatility Impact: Highly volatile shares may exhibit erratic movements on the RRG, making interpretation challenging. Conclusion Relative Rotational Graphs provide traders and investors with a powerful visual representation of the relative performance of shares compared to a benchmark index or a group of shares. By understanding the quadrants and interpreting the movements of individual shares, investors can gain valuable insights into market trends, identify potential investment opportunities, and optimise their portfolio allocations. As with any investment analysis tool, it should be used alongside other methods and within the context of a well-thought-out investment strategy. Top 40 constituent RRG chart: The updated RRG chart displayed below compares the individual constituents of the Top 40 index against the index itself. This chart undergoes daily updates, and to enhance clarity, various colour backgrounds are utilised for ease of reference. Leading (Leading Quadrant): Green background. These shares are regarded as potential Profit takes or Hold candidates. Weakening (Weakening Quadrant): Yellow background. These shares are classified as potential Deteriorating candidates or short-selling. Lagging (Lagging Quadrant): Red background. These shares are classified as potential Avoid candidates. Improving (Improving Quadrant): Blue background. These shares are considered potential Buy candidates.

Introduction: Relative Price Strength (RPS) is a critical technical indicator used by traders and investors to assess the performance of an equity relative to the broader market or its industry peers. By understanding RPS and incorporating it into their investment strategies, individuals can gain valuable insights into an equity's potential for future price movement. We will delve into the concept of RPS, how it is calculated, and its significance in share trading. What is Relative Price Strength (RPS)? Relative Price Strength, also known as Relative Strength, is a momentum-based metric that evaluates an equity's performance relative to a benchmark index or a group of peers. It is used to identify equities that have outperformed or underperformed in their market or sector over a specified period. RPS Calculation: To calculate RPS, we compare the price performance of a particular share to the performance of a designated benchmark index or a group of shares. The RPS calculation typically involves comparing the price change over a specific time frame, depending on the preference of the trader or investor. The formula for calculating RPS is as follows: RPS = (Share's Price at date x / Share's Price at date y) / (Benchmark's Price at date x / Benchmark's Price at date y) date x = most recent price of the share or benchmark date y = price of the share or benchmark x periods ago Understanding RPS Values: The RPS value is represented as a ratio, and it indicates the stock's relative strength compared to the benchmark or peer group. A value above 1 suggests that the share has outperformed the benchmark or peers, while a value below 1 indicates underperformance. Significance of RPS in Share Trading: Identifying Strong Performers: RPS helps traders and investors identify shares that have demonstrated significant price strength compared to the overall market or their sector. These shares are often considered strong performers and may continue to exhibit positive price movement. Trend Confirmation: RPS can help confirm the prevailing trends in the market or sector. Shares with high RPS values are more likely to be in uptrends, while those with low RPS values might be in downtrends. Share Selection: Traders can use RPS to filter and prioritise their share selection process. A higher RPS value could make a share more appealing for trading or investment opportunities. Divergence Detection: RPS can also help identify potential divergences between a share and the broader market or sector. Divergences occur when an equity's price moves in the opposite direction to its RPS, which might signal a potential trend reversal or correction. Limitations of RPS: While RPS can be a valuable tool for assessing relative performance, it has some limitations that traders and investors should be aware of: Short-Term Focus: RPS is primarily a short to medium-term indicator. It might not accurately reflect a share's long-term potential or fundamental strength. Benchmark Selection: The choice of benchmark or peer group can significantly impact the RPS calculation. Different benchmarks can lead to different RPS values for the same share. Conclusion: Relative Price Strength (RPS) is a valuable technical indicator that provides insights into an equity's relative performance compared to a benchmark index or its peers. By understanding RPS, traders and investors can make more informed decisions, identify strong performers, and validate existing trends in the market or sector. However, like any single metric, RPS should be used in conjunction with other indicators and fundamental analysis to make well-rounded investment decisions. JSE All Share headline indices RPS: In the financial markets, certain headline indices have showcased remarkable outperformance, suggesting a notable influx of capital. This surge in capital inflow signals growing trader and investor confidence and interest in these headline indices. Whereas traders and investors seem to be reallocating their investments away from headline indices where there is an outflow of capital. Capital Inflow headline indices (in ranking order): Industrials Financials Capital outflow headline indices (in ranking order): Resources JSE All Share share RPS: Understanding the performance of individual shares in comparison to the broader market is crucial for traders and investors seeking to capitalise on market trends. The table below highlights the top 20 and bottom 20 shares based on RPS, with a lookback period of the last 10 days, indicated by their ranking changes since the previous update. The table is updated daily. The Top 20 RPS Leaders: These are the shares that have exhibited the strongest relative price performance within the JSE All Share index over the past 10 days. The Bottom 20 RPS Laggards: These shares have shown the weakest relative price performance within the JSE All Share index over the same 10-day period. JSE All Share sector RPS: In this analysis, we will examine the top 10 and bottom 10 sectors based on RPS, considering the lookback period of the last 10 days. The table is also updated daily. The Top 10 RPS Leading Sectors These sectors have demonstrated the strongest relative price performance within the JSE All Share index during the 10-day lookback period. The Bottom 10 RPS Lagging Sectors Conversely, these sectors have exhibited the weakest relative price performance within the JSE All Share index over the same 10-day period.

The market overview serves as a comprehensive snapshot of the financial markets, providing a summary of various asset classes, sectors, and indices. Its primary purpose is to showcase the performance of different financial instruments over a specific period.

Notable is a page dedicated to fast-paced, running research commentary intended to alert to client to a potentially significant level or development, mainly from a technical perspective. Furthermore, the content gives clients access to the analyst's perspective of an instrument which can help in preparing for a potential trading opportunity. The research insights below represent my views thus far today. Additional insights may be added where applicable. 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 For an enlarged view, click on the arrows in the top right corner of the image. Monday 22-January-2024, 15h13 | Trade Alert: Synopsys (SNPS) Monday 22-January-2024, 06h30 | These are some of the strongest stocks | BID, NTC, RNI, VKE Monday 22-January-2024, 06h30 | Outsurance Group (OUT) | The share has been in a gradual upward trend, with a multi-month consolidation at/near 52-week/all-time highs. The price action and specifically the candle structure has been negative however has started to show (very) early signs of improvement. Two additional positives to note: (1) the price testing it's downward trend line - this may continue for a short period before an eventual reclaim (2) the 14-day RSI clearing it's downward trend which extends back to 14 November. Positive momentum above 4320c opens up the 4850c range as a medium term target. The potential price path is shown on the chart. Monday 22-January-2024, 06h30 | Richemont (CFR) - UPDATE | The lower boundary of the channel held with a reversal and subsequent strong reaction to earnings (+10% on Thursday). The share is now trading at the top of the range. Well done to those who bought around R2200 (now trading +R2566). Monday 22-January-2024, 06h30 | BHP Group (BHG) | The daily chart reflects an 'inside bar' candle formation, within an high bearish momentum/approaching oversold range. This print is within the provisional buy range of R560 to R575. Further positive candle structure in the form of an ultra short term sideways range would support a near term 'rebound'. Monday 22-January-2024, 06h30 | Technical Summary as of Friday''s close. Monday 22 January 2024, 06h30 | JSE Relative Sector Ratings as of Friday's close. Monday 22 January 2024, 06h30 | Key Market Regimes Monday 22-January-2024, 06h30 | Offshore Setups: Berkshire Hathaway (BRK.B) / Adobe (ABDE) / Roper Technologies (ROP) / Snowflake (SNOW) Monday 22 January 2024, 06h30 | Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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. Friday 19-January-2024, 16h37 | Offshore Setup: Analog Devices (ADI) Friday 19-January-2024, 11h51 | Offshore Setups: Morningstar (MORN) / Darden Restaurants (DRI) / Garmin (GRMN) / Micron Technology (MU) Friday 19-January-2024, 07h49 | Netcare - Above Average Volume Friday 19-January-2024, 07h26 | Tactical Trading Guide: Top Stocks Friday 19-January-2024, 07h00 | Key Markets: Short Term Regimes. This considers and highlights momentum regimes across three short term time frames: 2, 3 and 7 days. The RED ZONE = Most Overbought. The BLUE ZONE = Most Oversold. Tickers Displayed: US 10-Year Bond Yield, US Dollar Index, Brent Crude Oil, Gold, S&P 500, JSE Top 40 Index, Plarinum, Volatility Index, USD/ZAR, SA 10-Year Bond Yield Friday 19-January-2024, 06h30 | Technical Summary as of yesterday's close. Friday 19-January-2024, 06h30 | BHP Group (BHG) - now trading in oversold territory over the 3 major short term time frames: 2,3 and 7 days. Friday 19-January-2024, 06h30 | Capitec Bank (CPI). Update: For now, the share is nearing the stop-loss level, with a strong likelihood that the level will be tested. Traders could look to exit. Thursday 18-January-2024, 06h30 | Technical Summary as of yesterday's close. Thursday 18 January 2024, 06h30 | Being Alert To Short Term Opportunities: Potential Piercing Candles. Several days of heavy selling pressure have lead to a significant number of shares with high bearish momentum/approaching oversold readings. For short term, active traders, this means being alert to tactical trading opportunities in the form of potential bullish reversals - provided the intraday price action turns from bearish to neutral. We don't know what the trading day holds but what we can do is BE PREPARED. A Bullish Reversal via a piercing candle. WHAT DOES THIS STRATEGY ENTAIL? The share is in a downward trend over several days, becoming extended versus it's moving averages, declining into rising move averages or near the lower boundary of it’s 21 & 50-day standard deviation linear regression channels . As entry for this setup approaches, the candle's structure may reflect excessive selling with a large red candle. The following session, the price may "gap down" and reclaim the prior day lows to close to in positive territory, reflecting short term buying interest (against a defined risk level) with potential for a 2-4 day rebound. The strategy is ideal for ultra short term/active traders looking to capitalize on retracements within a bullish or bearish short term trend. Utilizing the end of day technical summary, here are some names which may fit the bill of a potential piercing candle: CFR, KIO, TFG, BHG. For now, yesterday's low is considered the pivot. Thursday 18 January 2024, 06h30 | Strategy Screen: "Reward-to-risk being attractive for a small buy/long position." Thursday 18 January 2024, 06h30 | Discovery Holdings (DSY) - as per the strategy screen above. Notes on chart. Thursday 18 January 2024, 06h30 | AVI Ltd Downside follow-through from run-up to R83. Yesterday's low = R78.45. The chart, as presented on 29-November. Thursday 18 January 2024, 06h30 | Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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. Wednesday 17-January-2024, 15h24 | OFFSHORE TRADING SETUPS Wednesday 17-January-2024, 15h24 | OFFSHORE TRADING SETUP (SHORT TERM): Monolithic Power Systems (MPWR). Breakout Level +$598 - https://www.tradingview.com/x/WZGuUP1g/ Wednesday 17-January-2024, 06h35 | Analyst Thoughts: The type of stocks being accumulated often points to the type of market environment at the time Currently, the sector with leading breadth is Consumer Staples. This is NOT what you see in a bull market as it points to investors' defensive positioning. As I mentioned in my opening comments for the year (Friday, 05 January), my screeners during the holiday period showed stocks with defensive characteristics as buy/long opportunities. As of last night's US market close, the percentage of Consumer Staple shares above their 20-day Moving Average was 55% - this is the highest among all of the major sectors. Following that is Communications at 54% and Healthcare at 51%. This morning, a glance at global markets show the US Dollar and Bond Yields placing pressure on risk assets. Wednesday 17-January-2024, 06h30 | JSE Technical Summary as of yesterday's close. Wednesday 17-January-2024, 06h30 | BHP Group (BHG) | Update. Yesterday the share (just about) traded into my preferred buy zone of R560 to R575. It's a wide range as I always expect some sort of overshoot (it's a range, not an exact level). From a low of 57333c, a high of 58737c was printed with the share being a relative outperformer (vs the JSE Top 40) on the day. The bullish reversal off the lows is also in line with the medium term reading on the Tactical Trading Guide which stated that a '...small rebound can be expected". Wednesday 17-January-2024, 06h30 | Impala Platinum (IMP). Excess volatility means there's also an opportunity to tactically generate cash flow. IMP is down from R93 at the end of December to a low of R73 yesterday. There is a familiar level of support around R72 however a lower level of R67 cannot be ruled out. Considering the Tactical Trading Guide, the readings are as follows: Wednesday 17-January-2024, 06h30 | MTN Group (MTN). On 18 December, the daily chart was highlighted along with the previous (end of day) Tactical Trading Guide which stated: "Would not enter here. Buy/long reward-to-risk unattractive." Subsequently, we saw a small push higher (from R114 to R117) before a bearish reversal off excessively overbought short term levels. Wednesday 17-January-2024, 06h30 | African Rainbow Minerals (ARI). Provisionally, watch the area around 17200c for short term tactical support. Wednesday 17-January-2024, 06h30 | Aspen Pharmacare (APN). The share has had a phenomenal run from my buy/long re-entry idea at R160-R164, testing a a high of R206 on 04 January 2024. The short term, the share lacks directional bias and is consolidating above it's 21-day EMA. If the 21-EMA is breached, the 50-day EMA (now around R190) is the next level to watch for an ultra short term tactical accumulation zone. Wednesday 17 January 2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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. Tuesday 16-January-2024, 06h30 JSE Technical Summary Tuesday 16-January-2024, 06h30 JSE Relative Sector Ratings Tuesday 16-January-2024, 06h30 Exxaro Resources (EXX). Negative candle structure near multi-month highs + Has struggled to break the R202/R206 resistance level + bearish engulfing candle + 14-Day RSI breaking below the 50 level. Bias: Bearish/Sell Tuesday 16-January-2024, 06h30 Strategy Screen: Reinet Investments. *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. Tuesday 16-January-2024, 06h30, VODACOM RELATIVE TO THE JSE TOP 40 INDEX. Vodacom (VOD) is nearing a 3-month high relative to the JSE Top 40 Index while the 14-week RSI is printing a 5-month high. This is a positive technical development and signals the potential for VOD to OUTPERFORM the JSE Top 40 Index on a relative basis. Also noted is the 2-year falling wedge technical formation. Tuesday 16 January 2023, 06h30 Satrix Financials (STXFIN) - WEEKLY CHART - Negative divergence at multi-year highs. Tuesday 16 January 2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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. Monday 15-January-2024, 14h25 Trade Alert: Capitec Bank (Published on CMS, then to Telegram) Monday 15-January-2024, 06h30 JSE Technical Summary as of Friday's close. Monday 15-January-2024, 06h30 JSE Relative Sector ratings as of Friday's close. Monday 15 January 2024, 06h30, JSE Sectors Short Term Trend Relative To JSE Top 40 Index Monday 15-January-2024, 06h30 Sasol Ltd (SOL). The 2-day move off the R166 lows to a high R177.92 is in line with the tactical trading guide which, on Wednesday (end-of-day) stated the following: "Reward-to-risk becoming attractive for a small buy/long positions. While horizontal trend lines take precedence over diagonal trend lines, it may be worthwhile recognizing the price again having rebounded off the lower boundary of the long term downward trending channel. Note the positive divergence as per the 14-day RSI. Monday 15-January-2024, 06h30 Mondi Plc (MNP). The previous buy signal for the share was triggered on 19 and 20 October following the 6.8% sell-off. The share rallied by 29% from ~R284 to it's recent high of R369.17. Month-to-date, the share has unwound from medium term overbought conditions and is nearing the previous breakout level which, for ultra short term traders, could offer an opportunity to re-enter a tactical buy/long position. For now, R327 to R331 is the level to keep in mind. Monday 15-January-2024, 06h30  BHP Group (BHG). Provisional Buy/Long Re-Entry R560 to R575. Original buy idea highlighted over 1 year ago (See 2nd chart). Monday 15-January-2024, 06h30 Dis-Chem Pharmacies (DCP). Downside shift following consolidation at multi-month highs + channel break + bearish divergence confirmed (14-day RSI). Bias: Bearish/Sell Monday 15-January-2024, 06h30 Gold Fields (GFI). Update. Bullish reversal and strong upside follow-through off oversold conditions. My comment on Wednesday at R227 on the telegram group is highlighted on the chart below. Friday's high = R249. Bank/Take Profit. Monday, 15-January-2024, 06h30. Shoprite Holdings (SHP). While SHP remains a sector leader over the long term, it may be worthwhile bearing mind the technical chart which, at present, reflects a bearish divergence as per it's 14-WEEK RELATIVE STRENGTH INDEX (RSI). This is where the price prints a higher high while the technical indicator develops a lower high. This is often a precursor to potential subsequent price weakness. Monday 15-January-2024, 06h30 Strategy Screen (Short Term): "Attempting a bullish reversal following a consolidatin phase". *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are highlighted in the column to the far left while the relevant charts has also been added. Monday 15-January-2024, 06h30 Strategy Screen: DRD Gold (DRD). Monday 15-January-2024, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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. Media: Business Day Thursday 11-January-2024, 06h49 Nedbank Group Ltd (NED) - Multi-month base with a pivot of 21800c, targeting upside of 23800c. Risk below 20600c. Thursday 11-January-2024, 06h30 JSE Technical Summary as of yesterday's close. Thursday 11-January-2024, 06h30 Share Commentary: 30/Liquid/Tradeable Constituents Thursday 11-January-2024, 06h30 Reunert Ltd (RLO). Inexpensive SA Mid-Cap. I published a buy/long idea when it traded at R42 in August 2022 (see chart via TradingView below). The share subsequently appreciated significantly, traded as high as R63 by February 2023 from it has been in a consolidation phase. The most recent price action is constructive, with the share having developed a bull flag technical formation that has broken to the upside. In addition, the candle structure is positive enough to suggest that there is potential for the share to push through the multi-month supply zone of 6368c to resume it's upward trend. Thursday 11-January-2024, 06h30 Global Insurers and Re-Insurers: 4 Names that have appeared on my technical scans in recent days. A consolidation before a potential 'next leg up'. Shown below is Arthur J Gallagher & Co (NYSE:AJG), Marsh Mclennan Companies (NYSE:MMC), Munich Re-Insurance (XETR:MUV2) and Hanover Re (XETR:HNR1). 11-January-2024, 06h30 Relative Sector Ratings (Short Term) Wednesday 10-January-2024, 15h29 Trade Alert: DLR (Published to CMS and Telegram) Wednesday 10-January-2024, 08h22 Buy Candidate: Dominos Pizza (DPZ) - Weekly Chart - A 2-year consolidation looking to break to the upside. Wednesday 10-January-2024, 08h13 Buy Candidate: Constellation Brands (NYSE:STZ) - Clearing upper boundary of ascending triangle on high volume. To trade this, you will need an offshore account. Wednesday 10-January-2024, 08h07 Buy/Long Candidates: Palantir Tech / Ferrari / Thales / DraftKings Wednesday 10-January-2024, 07h37 Datatec (Update). Strong upside follow-through from 3551c on 06 December to 4118c at yesterday's close. The original and updated charts are shown below. Wednesday 10-January-2024, 07h37 Hulamin (HLM) - Notes on chart. Wednesday 10-January-2024, 07h29 Grindrod (GND) - Notes on chart. 10-January-2024, 06h30 Relative Sector Ratings Wednesday 10-January-2024, 06h47 Key Market Ratings. Click here to access. Tuesday 09-January-2024, 07h18 Gold Fields (GFI). The share has sold off sharply from it's short term peak of ~R310 on 14-Dec-2023 and is now nearing the 16-Nov-2023 swing lows. For ultra short term traders, the near oversold conditions could offer an opportunity to participate in a tactical bullish reversal, provided the candle structure improves. The provisional support zone and potential price path is highlighted on the chart below. In addition, traders are being alerted to the share's readings as per the the Tactical Trading Guide as of yesterday's close. Tuesday 09-January-2024, 06h30 JSE Technical Summary as of yesterday's close. Tuesday 09-January-2024, 06h30 JSE Relative Sector Ratings as of yesterday's close. Tuesday 09-January-2024, 06h30 Truworths (TRU). My previous published idea (06-Nov) was to sell 8194c (see red arrow). Yesterday the share tested a 3-month low of 6935c. A small positive divergence has developed however it is also possible that the share trades lower to re-test the previous breakout level which can also be considered a key demand/supply zone. Despite being in a consolidation phase, the multi-month trend remains up. Tuesday 09-January-2024, 06h30 Harmony Gold (HAR) - Update - I previously highlighted the potential for a bearish reversal at the July/August 2020 swing highs. We have subsequently seen the share unwind from significantly overbought levels (on a week/monthly basis), with potential for the unwind to continue in a similar manner as seen in previous period. The annotations are unchanged from the last analysis. Tuesday 09-January-2024, 06h30 Bid Corp (BID). Multi-month consolidation. If we start seeing prints above the 42500c/43000c range, that could signal a continuation of the long term upward trend and potential re-test of the previous highs of 46000c. Downside risk below 40000c. Tuesday 09-January-2024, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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. Monday 08-January-2024, 11h18 Trade Alert: LHC Monday 08-January-2024, 06h30 JSE Technical Summary as of Friday's close. TO NOTE: Reviewing the technical summary screen, there is an overwhelming number of constituents trading within a NEUTRAL range, which suggests that some have retreated from OVERBOUGHT or have made a positive shift from HIGH BEARISH MOMENTUM to WEAK and then NEUTRAL. Monday 08-January-2024, 06h30 British American Tobacco (BTI) - Update. Just over a month ago (06-December) I highlighted a key level on the chart, which showed the share trading at a key level when applying a parallel channel. In that case, following an 11% daily decline, the share traded at the lower boundary of the channel. Subsequently, a minor rally AROUND these lows has occured with the share gaining +3000c. As of Friday's close, the Tactical Trading Guide stated the following for the 3 time frames: The original and follow-up chart for BTI is shown below, highlighting the upside follow-through. Monday 08-January-2024, 06h30 Sasol Ltd (SOL). Update. My previous comment highlighted the chart trading at the lower boundary of the parallel channel, which coincided with a high bearish momentum/approaching oversold reading. We have since see a strong rebound (from 17124c to a high of 18984c), followed by the current consolidation (to 18528c) before a potential further recovery. Two charts are shown below, the original and follow-up (as of Friday's close). Monday 08-January-2024, 06h30 Fortress Real Estate Inv. A (FFA). The share has shown relative strength versus the broader market, holding within close proximity to it's 52-week highs throughout the last nine months. Over the same period, supply (resistance) has been at ~1420c, which is also the level at which a print and close above would potential signal a continuation of the upward trend. Bias: Buy/Long Monday 08-January-2024, 06h30 JSE Sectors Short Term Trend Relative To JSE Top 40 Index (Broader Market) Monday 08-January-2024, 06h30 JSE Insurers Relative To JSE Top 40 Index: Trading at multi-month highs and clearing a multi-year downward trend. The relative is consistent with developments in global markets (e.g. United States) where insurers are trading at multi-month and multi-year highs. Monday 08-January-2024, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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. Friday 05-January-2024 06h30. Analyst Thoughts: (Initial). I used *some* of my time between Christmas and New Years to refresh and further optimize my screeners with the goal of widening the opportunity set. The results highlighted a common theme with respect to the current market environment i.e. prepare and position within defensive sectors. To further elaborate, names in the Healthcare, Consumer Staples and Energy sectors commonly featured among the list of candidates. To a lesser extent, constituents from the Utilities sector also featured among the potential opportunities. As you may already know, strength within these sector often suggests a 'risk-off' environment. Subsequently, the first few days of the trading year saw the Q4 2023 winners sell off and many of my screener candidates outperform on both an absolute and relative basis. As the price action develops, the opportunity set will be subject to change, meaning that the next batch of candidates will emerge. Friday 05-January-2024, 06h30 Themes To Note: (1) Value Continuing To Outperform Growth (2) Low Volatility Starting To Outperform High Beta (3) Small Caps At A Key Inflection Point Vs Large Caps (4) Emerging Markets At A Key Inflection Point Vs Developed Markets. Friday 05-January-2024, 06h30 JSE Relative Sector Ratings as of yesterday's close. Friday 05-January-2024, 06h30 JSE Technical Summary as of yesterday's close. Friday 05-January-2024, 06h30 Shoprite Holdings - nearing a multi-year resistance supply zone, with negative divergence as per the 14-week Relative Strength Index (RSI). Potentially a level to reduce risk and/or sell/short. *Please note, the price on the chart may differ slightly from the last closing price. Friday 05-January-2024, 06h30 Aspen Pharmacare (APN) - High bullish momentum + approaching overbought. The share has followed the potential price path, breaking out of the channel. The rising trend line (connecting the swing highs) forms part of the larger parallel channel and represents a potential range to reduce risk or potentially sell/short on an overextension. *Please note, the price on the chart may differ slightly from the last closing price. Friday 05-January-2024, 06h30 US 10-Year Bond Yield | My previous comment(s) highlighted the potential for the US10Y to trade lower, meaning lower bond yields which also means higher bond prices. Over the course of several weeks we have seen this reversal unfold, with the US10Y moving from above 4.70% to below 3.80%. The downward trend, which was high bearish momentum, saw the yield moving into an oversold range, with a bullish reversal off the 3.80%. This reversal at support has coincided with risk assets, coming under pressure on the first and second trading day of the year. *Please note, the price on the chart may differ slightly from the last closing price. Friday 05-January-2024, 06h30 Trade Idea Updates: Sappi (SAP): Buy/Long. Approaching the full target of 4579c. Yesterday the share reached 4506c, it's highest level since October. The suggested entry was 4119c. Glencore (GLN). Buy/Long. The share reached a high of 11294c on 27 December. The suggested entry was 10749c. Clicks Group (CLS). Sell/Short. The share previously breached the stop-loss level. Friday 05-January-2024, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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. Tuesday 19-December-2023, 08h41 United States Steel Corp was a share which I recommended at $24 in November of last year (2022). Yesterday it was announced that the group will be acquired by Japan’s Nippon Steel for $55 per share, 129% above the recommended entry. Tuesday 19-December-2023, 08h31 JSE Technical Summary as of the last close. Tuesday 19-December-2023, 08h23 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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. Monday 18-December-2023, 06h30 JSE Relative Sector Ratings as of the last close. Monday 18-December-2023, 06h30 JSE Technical Summary as of the last close. Monday 18-December-2023, 06h30 Strategy Screen (African Rainbow Minerals, Northam Platinum, Glencore, Woolworths): Long Term Trading Time Frame (5 to 8 weeks) - "Attempting to rebound within a range. Buy/long on strong bids near the highs of the range". *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are also highlighted in the column to the far left. Monday 18-December-2023, 06h30 Platinum & Precious Metals vs JSE Top 40: Amidst the absolute (price) weakness and negative sentiment surrounding the sector, the relative strength of the Platinum and Precious Metals sector is evident when reviewing the ratio/relative chart (compared to the JSE Top 40 Index), with the ratio trading at it's highest level since August and breaking to the upside of a multi-month base. Monday 18-December-2023, 06h30 MTN Group (MTN) was one of the shares which participated in Thursday's monster rally, adding 6% for the session to close at the highs of the day (11400c). The strong candle structure is positive however, does come following a significant move over the short term. On 21 November at 9484c I highlighted the RSI printing a new 3-month high, which was a positive signal for a momentum traders. At Thursday's close, the share ranks as OVERBOUGHT with the SHORT TERM reading as follows: "Would not enter buy/long here. Reward-to-risk is unattractive". MEDIUM TERM: No reading available. LONG TERM: "Strong buying interest following a generally weak trend. May consolidated before the next leg up". Monday 18-December-2023, 06h30 Satrix Property Portfolio (STXPRO). I published a note on the ETF just over 1 month ago, looking for a channel break which could signal a channel break. Update: Now trading higher by 9.9% over the month. Monday 18-December-2023, 06h30 Sirius Real Estate (SRE). Swing long trigger +2175c. Target = 2560c. Stop: 1940c. Monday 18-December-2023, 06h30 Old Mutual Ltd (OMU). The share has started to follow the potential price path, with a 'reversal' candle on Wednesday and an 'igniting' candle on Thursday. Going forward, the share could consolidate before continuing it's bullish reversal. Monday 18-December-2023, 06h30 Share Commentary For JSE Top 20 by Market Cap Monday 18-December-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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. Thursday 14-December-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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. JSE Top 40 Index (J200) Thursday 14-December-2023, 06h30 JSE Technical Summary as of yesterday's close Mondi Plc Wednesday 13 December 06h30. Primary Trends: Selected Large Caps (30). (Approximately 5 to 8 Weeks). Subject To Change based on the development of the price action. Weekly Charts and Weekly Moving Averages Apply. Sasol Ltd (SOL) Wednesday 13-December-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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. Wednesday 13-December-2023, 06h30 JSE Technical Summary as of yesterday's close Tuesday 12-December-2023, 06h30 Long Term Trading Commentary (Approximately 5 to 8 Weeks) For Selected Large Cap/Liquid Shares. Subject To Change based on the development of the price action. Weekly Charts and Weekly Moving Averages Apply. Aspen Pharmacare (APN) Anglo American Plc Tuesday 12-December-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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. Tuesday 12-December-2023, 06h30 JSE Technical Summary as of yesterday's close. Monday 11-December-2023, 14h41 KIO: Short/Sell Target Exceeded Monday 11-December-2023, 06h30 JSE Sector Ratings as of Friday's close. Monday 11-December-2023, 06h30 Shares to consider buy/long re-entries should they pull back into their 50-day exponential moving averages (EMA). Tickers: INL, INP, RNI, TFG Monday 11-December-2023, 06h30 Shares that have declined significantly over 1 week and are flagging as potential bullish reversal plays. Tickers: SOL, DRD, ANG, AGL Monday 11-December-2023, 06h30 Overbought across multiple time frames, high bullish momentum/approaching overbought [short/sell bias]. Tickers: CLS, MNP Monday 11-December-2023, 06h30 JSE Technical Summary as of yesterday's close. Monday 11-December-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of Friday's close. Monday 11-December-2023, 06h30 Absa Group is flagging on the short term time frame, however, providing my view of the long term trend may be key in putting the structure into context. Short term = potential buy following sell-off. Long term = breaching the downward trend extending back to the lows of March 2020 (Covid-19 sell-off). Lester Davids Analyst: Unum Capital

VIEW RETAINED FOR A BEARISH CORRECTION OFF THE TARGET AREA. The expected test and reversal off the indicated R1 target area has materialised and the illustrated view is retained. W,X,Y downside should target S2 and S3 over time where a medium-term bottom is likely. The initial X phase of the correction could be complete at S1*. A R0 /S1 consolidation would then be phase B, followed by further downside to S2 and S3. A break of S1* will activate further downside to S2. The market should preferably stay below R0* to retain the bearish bias. Target and Re-assessment Levels: Pivotal Levels: R0* and S1* Primary Trend and Target Levels: WXY downside to S2 and S3 Prevailing Trend and Target Levels: R0*/S1* consolidation Technical Rating: Medium

THE VIEW IS RETAINED FOR AN EVENTUAL BULL PHASE, WHICH CONSTITUTES A SEGMENT OF AN UNFINISHED TRIANGLE PATTERN. The formation of the P*K* triangle pattern is ongoing and the illustrated outcome is retained. Phase C downside was completed at K*/S1. Current gains off S1* should then be phase D with further upside potential to the highlighted target area around P*. Phase E downside from P* to K* could complete the triangle pattern followed by a bull trend to T1 and beyond. Medium conviction on the general outlook of a triangle, followed by a bull trend. Target and Reassessment Levels: Important Levels: P* and K* Primary Trend: P*/K* consolidation, followed by a bull trend to T1 Current Trend: Gains to P*, followed by a reversal to T1 Monthly Range: R1*/K* Technical Rating: Medium

Notable is a page dedicated to fast-paced, running research commentary intended to alert to client to a potentially significant level or development, mainly from a technical perspective. Further, the content gives clients access to the analyst's perspective of an instrument which can help in preparing for a potential trading opportunity. The research insights below represent my views thus far today. Additional insights may be added where applicable. 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 For an enlarged view, click on the arrows in the top right corner of the image. text Monday 11-December-2023, 06h30 JSE Sector Ratings as of Friday's close. Monday 11-December-2023, 06h30 Shares to consider buy/long re-entries should they pull back into their 50-day exponential moving averages (EMA). Tickers: INL, INP, RNI, TFG Monday 11-December-2023, 06h30 Shares that have declined significantly over 1 week and are flagging as potential bullish reversal plays. Tickers: SOL, DRD, ANG, AGL Monday 11-December-2023, 06h30 Overbought across multiple time frames, high bullish momentum/approaching overbought [short/sell bias]. Tickers: CLS, MNP Monday 11-December-2023, 06h30 JSE Technical Summary as of yesterday's close. Monday 11-December-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 90 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of Friday's close. Friday 08-December-2023, 07h31 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Friday 08-December-2023, 06h30 JSE Technical Summary as of yesterday's close. Thursday 07-December-2023, 11h13 Brent Crude Oil. The Start of a Short Term Base? Previous View: 03 July: Add oil risk. 12 September = Reduce oil risk. Updated View. Oversold conditions = potential opportunity to add back risk on oil and related sectors. Now trading at the lower boundary of the parallel channel + bullish divergence on both the 7 and 14-day RSI's. Thursday 07-December-2023, 10h42 FX: USD/JPY. Updated View. Downside follow-through. next support 144.00. Next key level = the 200-day SMA around 142.80. Thursday 07-December-2023, 10h30 US 10-Year Bond Yields (US10Y). Updated View. The unwind from the upper boundary of the bull channel has accelerated with the yield now trading below it's prior breakout level and at the previous demand/supply zone. Short Term Support Range = 4.08% to 4.11%. Short Term Resistance Range = 4.30% to 4.35%. The yield is also nearing a support zone of 4.02%, which is at or around the 200-day moving average. Thursday 07-December-2023, 08h30 Sasol Ltd (SOL). The lower prices has raised interest in SOL. I've highlighted the medium term and long term readings below: Thursday 07-December-2023, 08h24 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Thursday 06-December-2023, 06h30 British American Tobacco (BTI, 53198c). BTI's market update saw it's share lower by almost 11% on the day - it's biggest daily decline since 2019. There's plenty of opinion and commentary, so to differentiate, I'll present my brief manual view as well as the reading from the Tactical Trading Guide as of yesterday's close. Testing the lower boundary of parallel channel. The upper and lower boundaries of the channel connect the highs and lows of the price trend to reflect key accumulation and distribution levels. Automated Analysis (via Tactical Trading Guide) as of yesterday's close. BTI SHORT TERM: "Aggressive selling but buy/long reward-to-risk may be attractive". BTI MEDIUM TERM: No reading available. BTI LONG TERM: "Aggressive selling, wait for lower time frames (4H, 1D) to stabilize". Thursday 06-December-2023, 06h30 JSE Technical Summary as of yesterday's close. Wednesday 06-December-2023, 11h06 Trade Alert: Clicks Group (CLS). Published on the CMS, then to Telegram. Wednesday 06-December-2023, 08h22 Datatec (DTC). A build-up in volume + improving technical structure bodes well. Above 3615c will be key for a change of trend of neutral to bullish. Wednesday 06-December-2023, 07h58 JSE Gold Miners. The group has started to pull back from their overbought positions (data highlighted in recent days). The SHORT TERM readings are as follows: Both ANG & GFI stating that the bullish momentum is slowing on the lower time frames and that the 8, 21, 50-EMA are ranges to consider buy/long re-entries. 📌 Wednesday 06-December-2023, 06h30 Internally, we receive the Tactical Trading Guide every evening at 19h30 via email and for the past 3 months I've compiled the same data on Excel the to make it available to clients. If you've followed it, I hope that you are finding it useful and that you've been able to pick up on trading opportunities as well as recognize potential risks for the shares that you trade. I'm using it as follows: (1) To assess reward-to-risk (2) to recognize potential trading opportunities (3) to pick up certain price structures for example range breaks, pullbacks to key moving averages to buy or sell (4) to understand the readings across various time frames. Mondi Plc (MNP) is another example of how the data set and automation provided a timely alert before a massive move in the share price. At the end of the day on 19 October, the short term reading was as follows: "Aggressive selling but reward-to-risk may be attractive". At the end of the day on 20 October, the short term reading was as follows: "The reward-to-risk is becoming attractive for a small buy long position". The share bottomed the following session and we have since see the share rally from R282 to R342 at yesterday's high. The Tactical Trading Guide is one of the most valuable data sets for traders looking to profit. Are you using it manage risk and find opportunity? Wednesday 06-December-2023, 06h30 JSE Short Term Technical Ratings, as of yesterday's close. Wednesday 06-December-2023, 06h30 JSE Relative Sector Ratings Wednesday 06-December-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Tuesday 05-December-2023, 08h23 Strategy Screen: Short Term Term - "Buyers On Control But Weakness On Lower Time Frame. Look For Pullback Toward 8/21 EMA (potential buy/re-entry range) before next move higher". *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are highlighted in the column to the far left. Tuesday 05-December-2023, 08h05 Netcare Ltd (NTC). Update. Strong recovery underway since buy/long view on 07 September. The original chart is shown below. Tuesday 05-December-2023, 08h05 Long Netcare, Short Life Healthcare. Update. I discussed this market neutral (pair trade) opportunity on 07 September, which, looking back, was the day that the pair bottomed. Yesterday the pair was higher by as much as 30%. Tuesday 05-December-2023, 08h05 Strategy Screen: Short Term Term - "Do not enter a buy/long at current levels. The reward-to-risk is unattractive ". *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are highlighted in the column to the far left. Tuesday 05-December-2023, 07h58 JSE Gold Shares. In line with the model. Yesterday we saw the shares come under pressure, in line with the readings from the Tactical Trading Guide, as of pre-market (Friday's close). The Tactical Trading Guide helps traders uncover opportunity as well as manage risk. Tuesday 05-December-2023, 07h29 Clicks Group (CLS, 30497c). By the end of yesterday's trading session, the share printed a hammer candle formation. This candle structure comes following an already strong move off the lows seen on 23 October. Today's candle structure will be important as failure to hold the prior session highs could signal that the upward momentum is being exhausted which could provide an opportunity to re-enter a short/sell trade. The Tactical Trading Guide as of yesterday's close states the aforementioned and is as follows: Clicks (CLS) - reviewing some of the key the fundamental metrics, it is noted that the price-to-ratio remains elevated at 29x while the EV/EBITDA is at 12x. This is considered expensive. Tuesday 05-December-2023, 06h30 JSE Short Term Technical Ratings, as of yesterday's close. Tuesday 05-December-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Monday 04-December-2023, 13h53 Trade Alert: Paypal Holdings (PYPL) - Originally published to CMS, then Telegram. Monday 04-December-2023, 10h40 Trade Alert: Sappi Ltd (SAP) - Originally published to CMS, then Telegram. Monday 04-December-2023, 09h26 Trade Alert: City Lodge (CLH) - Originally published to CMS, then Telegram. Monday 04-December-2023, 08h30 Trade Alert: Glencore Plc (GLN) - Originally published to CMS, then Telegram. Monday 04-December-2023, 06h30 JSE Short Term Technical Ratings, as of Friday's close. Monday 04-December-2023, 06h30 [RELATIVE SECTOR ANALYSIS] JSE Resources vs JSE Top 40 Index. In November 2022 I expressed my view which pointed to the potential for JSE Mining & Resources shares to UNDERPERFORM the broader market on a relative basis. From January to November this year, the underperformance was significant as the underlying constituents sold off strongly from their previous peaks. The bear flag technical formation, which was a key feature of the relative UNDERWEIGHT position, has been completed. The relative chart shows the ratio having traded into the long term demand/supply zone, initially slipping below followed by a recovery. The candle structure as per this weekly chart is improving, with the sector closing near a 4-month high on a relative basis. Bottom Line: A sector recovery could be underway over the medium term. Monday 04-December-2023, 06h30 Aspen Pharmacare (APN, 18524c). Previously, traders were alerted to a re-entry for R160 - R164, which was followed by a rally which saw the share test a high of 18856c on Friday. The candle structure shows signs of an exhaustion of upward momentum, with a long upper tail having developed. Friday's high is also in line with a supply zone that has been in place since Q1. In the short term, the buy/long reward-to-risk is less favourable than the previous re-entry (R160 - R164). APN Buy Idea 05 September 2023: R160 - R164 Monday 04-December-2023, 06h30 Strategy Screen: Medium Term (1-3 Weeks). MONDI PLC (MNP). "General trend up however look for failure to hold prior session highs to initiate a 1 to 2 day short/sell setup". Mondi Plc gave you buy/long signal via the Tactical Trading Guide on Friday 20 October below R289. The share has since rallied sharply to test a high of R340.42 on Friday. While I am positive on the long term setup for the share, the short term (1-5 days) and medium term (1-3 weeks) does not offer an appealing reward-to-risk from an entry perspective on the buy/long side. See the short term and medium term readings below followed by my updated view on the chart. Monday 04-December-2023, 06h30 Harmony Gold (HAR). Potential short/sell if it becomes overextended. Monday 04-December-2023, 06h30 JSE Sector vs JSE Top 40: Short Term Trend Analysis Monday 04-December-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Media: Unum Capital x Business Day [Friday, 01 December 2023, 19h21] Friday 01-December-2023, 08h27 Strategy Screen: Short Term Term - "Aggressive selling in days sessions but the buy/long reward-to-risk may be attractive ". *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are highlighted in the column to the far left. Friday 01-December-2023, 08h24 Strategy Screen: Short Term Term - "Very strong move, buyers in control but do not chase. The share may fail at an attempt to hold it's prior session highs. If it does not hold, then the 8-EMA may be a short/sell target". *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are highlighted in the column to the far left. Friday 01-December-2023, 08h22 Strategy Screen: Short Term Term - "Do not enter buy/long here. The reward-to-risk is unappealing". *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are highlighted in the column to the far left. Friday 01-December-2023, 08h17 Strategy Screen: Short Term Term - "Attempting to advance while in a bullish regime, If it pulls back, use the prior session close or the 8-EMA as an accumulation zone". *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are highlighted in the column to the far left. Friday 01-December-2023, 07h59 JSE Relative Sector Ratings, as of yesterday's close. Friday 01-December-2023, 07h22 JSE Short Term Technical Ratings, as of yesterday's close. Friday 01-December-2023, 07h13 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Thursday 30-November-2023, 11h59 Momentum Metropolitan - Target Reached. Original view (06 November), followed by the updated chart. Thursday 30-November-2023, 08h52 Strategy Screen: Short Term Term - "Buyers On Control But Weakness On Lower Time Frame. Look For Pullback Toward 8/21 EMA (potential buy range) before next move higher". *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are highlighted in the column to the far left. Thursday 30-November-2023, 08h28 Gold Fields (GFI). Strong upside follow-through from bull flag, now approaching ultra short term overbought as per the short term rating screen + Tactical Trading Guide. GFI: Upside Follow-Through + Tactical Trading Guide as of yesterday's close. Thursday 30-November-2023, 08h15 Kumba Iron Ore (KIO). Update on trade idea (sell). Currently in the money. Yesterday the share reached a low of 58906c, which represented a downside move of 2329c from the suggested entry (price at the time of publication). To refresh, the levels were as follows: Sell = 61235c (price at the time of publication). Stop-loss = 63500c. Target = 57000c. Thursday 30-November-2023, 08h10 DRD Gold. Update on trade idea (buy). Currently in the money. Yesterday the share reached a high of 1832c, which is represents a +7.7% gain from the entry (price at the time of publication). To refresh, the levels were as follows: Buy = 1700c (price at the time of publication). Stop-loss = 1555c. Target = 2000c. Thursday 30-November-2023, 06h30 JSE Short Term Technical Ratings, as of yesterday's close. Thursday 30-November-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Wednesday 29-November-2023, 13h36 AVI Ltd Plc (AVI, 7942c). A consumer-related share approaching overbought conditions. Wednesday 29-November-2023, 13h36 Shaftsbury Capital Plc (SHC, 2824c) Sustainable momentum for this locally-listed offshore-focused share? Coming up later today... (1) A consumer-related share approaching overbought conditions ... (2) Sustainable momentum for this locally-listed offshore-focused share? Wednesday 29-November-2023, 06h30 Bidvest Group (BVT, 24408c). Will the '3-Day Rule' apply + What does the Tactical Trading Guide say? The 3-day rule states that when a stock drops by “high single digits or more in terms of percent change,” investors give themselves three days before buying that stock. Yesterday, BVT was sold off significantly on high volume on the back of it's market update. My manual review of the share's price chart notes that the 23400c level has been a key demand/supply zone. We could possibly see further selling into this level before a short term base starts to develop. Considering the Tactical Trading Guide as at yesterday's close, the short and medium term readings are as follows. SHORT TERM: 'Aggressive selling, however the buy/long reward-to-risk may be attractive'. MEDIUM TERM: 'The share has been sold aggressively, look for a continued dip before a minor rebound'. Below are the readings for the short, medium and long term as of yesterday's close, followed by my view of the price chart/key levels. Wednesday 29-November-2023, 06h30 Kumba Iron Ore (KIO). Update on trade idea (sell). Currently out of the money (for now). To refresh, the levels were as follows: Sell = 61235c (at the time of publication). Stop-loss = 63500c. Target = 57000c. Wednesday 29-November-2023, 06h30 DRD Gold. Update on trade idea (buy). Currently in the money. Yesterday the share reached a high of 1790c, closing at 1766c by the close of trade. To refresh, the levels were as follows: Buy = 1700c (at the time of publication). Stop-loss = 1555c. Target = 2000c. Wednesday 29-November-2023, 06h30 JSE Short Term Technical Ratings, as of yesterday's close. Wednesday 29-November-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Tuesday 28-November-2023, 06h30 JSE Short Term Technical Ratings, as of yesterday's close. Tuesday 28-November-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Monday 27-November-2023, 11h38 Trade Alert: DRD Monday 27-November-2023, 10h31 Trade Alert: KIO Monday 27-November-2023, 06h30 JSE Relative Sector Ratings, as of Friday's close. Monday 27-November-2023, 06h30 JSE Short Term Technical Ratings, as of Friday's close. Monday 27-November-2023, 06h30 Strategy Screen: Long Term - "Attempting a rebound following a downward trend. May stabilize (consolidated) further before continuing higher". *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are highlighted in the column to the far left. Monday 27-November-2023, 06h30 Strategy Screen: Medium Term - "Attempting a rebound following a downward trend. May stabilize (consolidated) further before continuing higher". *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are highlighted in the column to the far left. Monday 27-November-2023, 06h30 British American Tobacco (BTI, 60681c). Further Update. The share gave us two signals to potentially initiate a buy/long position: (1) An automated alert from the Tactical Trading Guide on 27-October and (2) a manual comment around the price having reclaimed it's 8/21-day EMA with a 'continuation buy/long' in view. We have since seen the price move from R548 to Friday's high of 60968c - a gain of +11% (ungeared). Monday 27-November-2023, 06h30 Old Mutual (OMU, 1216c). The share remains in a constructive long term upward trend, with the price having experienced a minor 3-month pullback, which can be seen as a consolidation. This consolidation can also be seen as a precursor to potential upside continuation which would be triggered upon the breach of the well-defined channel. Here, supply has been 1235 to 1260c, which would be the next trigger range for the aforementioned upside continuation. As per the Tactical Trading Guide below, a range break would clarify the next directional move. These reading are as of Friday's close and are subject to change based on the development of the subsequent price action. Monday 27-November-2023, 06h30 MTN Group (MTN). Downside target reached. MTN - Tactical Trading Guide as of Friday's close. Monday 27-November-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Friday 24-November-2023, 08h32 Strategy Screen: Short Term - "Reward-to-risk becoming attractive for a buy/long position." *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are highlighted in the column to the far left. Note: The Medium Term reading reflects weakness continuing to be in play. Friday 24-November-2023, 08h28 Strategy Screen: Short Term - "Would Not Enter Buy/Long At Current Levels. The Reward-To-Risk Is Unappealing."*A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are highlighted in the column to the far left. Friday 24-November-2023, 07h52 Strategy Screen: Short Term - "Attempting a bullish reversal following a consolidation phase."*A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are highlighted in the column to the far left. Friday 24-November-2023, 06h30 JSE Short Term Technical Ratings, as of yesterday's close. Friday 24-November-2023, 06h30 Northam Platinum (NPH, 12047c). Acting well within it's channels. Strong 2-day price action within a tight consolidation range. This can often lead to a breach of resistance and possibly a breakout. Friday 24-November-2023, 06h30 AVI Ltd (AVI, 7937c). The bull flag highlighted on Monday 24 July has seen strong upside follow-through, with the share trading at 6708c at the time to yesterday's high of 7937c. At current levels, the share is nearing short term overbought levels, with a 7-day RSI of 77. Plotting a parallel channel, the share is approaching the upper boundary of the channel which would also be an overshoot of the swing highs December 2022, January 2023 and March 2023. Any further upside overshoot could open a potential short/sell opportunity. Friday 24-November-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Thursday 23-November-2023, 13h19 PIK update on buy/long trade idea. Traders are currently in the money by 7.80% (ungeared), with a high of 2637c today. As mentioned, traders could consider the following if/when the share approaches the target: 1. Bank/take Profit; 2. Partially scale out; 3. adjust the stop-loss to protect profits; Full target = 2740c; Entry was 2446c. The chart is 'current'. Thursday 23-November-2023, 06h30 JSE Relative Sector Ratings, as of yesterday's close. Thursday 23-November-2023, 06h30 JSE Short Term Technical Ratings, as of yesterday's close. Thursday 23-November-2023, 06h30 JSE Banks (ex-Capitec) breaking down relative to the JSE Top 40 Index (J200). (1) The trend line extending back to the May lows have been breached (2) 14-day RSI at 40 (weak) (3) this ration chart is also below it's 21/50-Day EMA, both of which are losing upside momentum. Why is this chart relevant? It gives us insight into positioning + shows that banks are starting to underperform on a relative basis vs the broader market. Thursday 23-November-2023, 06h30 Anheuser Busch-Inbev (ANH). Not all trades work immediately (some take longer than than others). ANH (buy/long on 06 July, yellow vertical line) is a an example of such. It traded sideways before moving slightly lower followed by aggressive buying. Currently, the share is overbought, with the Tactical Trading Guide as of yesterday's close stating the following: Thursday 23-November-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Wednesday 22-November-2023, 08h44 Glencore Similar To BHG Group? No commentary required as the charts speak for themselves. Wednesday 22-November-2023, 08h25 Aspen Pharmacare (APN, 17310c). On 05-Sept-2023 I highlighted APN with a view that a print in the R160-R164 range could an opportunity to accumulate for the rebound. The share traded into this range (printing a low of R161) before rebounding strong. Both the original and updated charts are shown below: Aspen Pharmacare as of yesterday's close. Aspen Pharmacare. Updated Review. The share has rebounded off the demand-supply zone and trades in the middle of it's parallel channel. Within this channel, a smaller downward consolidation channel has developed, which if breached, could see a continuation of the of the recent upward move. Strong candle structure and a position above the move averages would be required. My updated view of the share is shown below: Wednesday 22-November-2023, 06h30 JSE Short Term Technical Ratings, as of yesterday's close. Wednesday 22-November-2023, 06h30 Sibanye Stillwater - Skyscraper View. Nearly two years ago (19 December 2021) I published the monthly chart (see original view below) highlighting the price being capped by it's (then) recently formed downward trend line. From the upper boundary of the channel, the price has gradually drifted toward the mid-point, followed by an acceleration toward the lower boundary. The second chart below shows the monthly chart as of yesterday's close which highlights the parallel channel (high/low points aligning with the parallel lines). Is it oversold? Yes. Can It trade lower? Yes. What level is the lower boundary of the range 1300c-1500c. Will it trade there? It's a tough one to call however I've also added yesterday's end of day tactical trading guide for the share. Please see it below the charts. SSW - 22 November 2023 (below) Wednesday 22-November-2023, 06h30 Gold Fields (GFI). Strong Price + Bull Flag Breakout. Below are the readings from the Tactical Trading Guide + the chart. Wednesday 22-November-2023, 06h30 Momentum-Metropolitan (MTM). Further Update - Bearish reversal underway. Wednesday 22-November-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Tuesday 21-November-2023, 13h19 Trade Alert: SPDR Metals & Mining ETF (XME) Tuesday 21-November-2023, 08h20 MTN Group (MTN, 9584c). Technical Observation. The 14-day RSI is printing it's highest level since 22 August. This is a improved short term development and bodes well for a potential stabilization price and potential short term recovery. Tuesday 21-November-2023, 08h03 Strategy Screen: Medium Term: "Strong attempt at a bullish reversal following a consolidation phase."*A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are highlighted in the column to the far left. Tuesday 21-November-2023, 07h50 Invesco Solar ETF (TAN). WEEKLY CHART. Clean energy has been one of the worst sectors to allocate capital to. Could that be changing over the medium term? The ETF has been building a base and is recovering off inflection points. Tuesday 21-November-2023, 07h35 Tencent Holdings (Code: 0700). This comment is a further update to my note on 01 August - in case you may have missed it, click here to read it. At current levels, the share has seen an improvement in it's short term candle structure and a 3rd re-test of the trend line which forms part of the gradual downward channel. Below is the LONG TERM reading from the Tactical Trading Guide as of 07:22am this morning which states the following: "Attempting a bullish reversal following a steady downward trend". Tuesday 21-November-2023, 07h35 KraneShares Trust CSI China Internet ETF (KWEB). Sticking the theme of China technology, the chart of the KWEB ETF also reflects an attempt to change it's trend from bearish/neutral to bullish. Tuesday 21-November-2023, 07h11 NewGold PLATINUM ETF (NGPLT) - it is said: 'from failed moves comes fast moves'. The ETF may possibly be developing a failed breakdown from the neckline of a topping structure. These are often great setups to participate in bullish reversals. Here, the key level to reclaim and retain is 15950. Tuesday 21-November-2023, 06h30 JSE Short Term Technical Ratings, as of yesterday's close. Tuesday 21-November-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Monday 20-November-2023, 11h36 Trade Idea: Buy PIK (published via CMS) Monday 20-November-2023, 10h40 Trade Idea: Buy iShares UK ETF (published via CMS). Monday 20-November-2023, 06h30 JSE Relative Sector Ratings, as of Friday's close. Monday 20-November-2023, 06h30 JSE Short Term Technical Ratings, as of Friday's close. Monday 20-November-2023, 06h30 Richemont (CFR, 233102c). Best closing level in 5 weeks. I published this chart one month ago (20-October). Since then, the group reported results, with the share being sold off on the day. It has since managed to remain within it's trading range, which is also in line with the lower boundary of the upward trending channel (support). The 3-day MACD has developed a positive crossover, which supports the potential for a short to medium term share price recovery. Below is the Tactical Trading Guide for the 3 time frames. Monday 20-November-2023, 06h30 Strategy Screen: Long Term: "After a general downward trend, some buyers are showing interest." *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are highlighted in the column to the far left. Monday 20-November-2023, 06h30 Glencore Plc (GLN, 10669c). The candle structure/price action among resource shares have improved. A few weeks ago I discussed the relative performance of the group vs the market while last week (Thursday) I mentioned Anglo American Plc (AGL) as a buy (as part of a pair) vs Kumba Iron Ore (KIO). Glencore has rebounded from the lower boundary of it's upward trending channel and is testing the peak on 24 January at 12433c. As per the data below, the share is in a high bullish momentum phase while also approaching an overbought range in the SHORT TERM. It may however be worthwhile paying attention to the MEDIUM and LONG TERM readings. Please see below (highlighted in yellow). Monday 20-November-2023, 06h30 TFG vs TRU - Market Neutral/Pairs Trade View. Over the long term, the two pairs have been closely correlated, however over 3 years, the performance outcome has diverged. TRIU is higher by 96% while TFG has lagged, rising only 7.8%. Is there is an opportunity, on a relative basis, to buy TFG while simultaneously selling TRU? Monday 20-November-2023, 06h30 Sasol (SOL). Update. I published a buy/long at 22571c, with a target of 24300c. The share traded as high as 24084c which means that 87% of my target was reached. As mentioned on the group on Wednesday at 9:34am: "...traders are currently in the money by +1411c or +6.2% (ungeared), with the share reaching a high of 23982c this morning. The full target is 24300c. The suggested buy/long entry was 22571c. As the share heads higher, traders could consider the following: (1) Bank/Take Profit (2) Partially scale out (3) Adjust the stop-loss to protect profits." Crude Oil rebound by over 4% on Friday hence we could see Sasol put in a minor rebound. Monday 20-November-2023, 06h30 Monday 20-November-2023, 06h30 Triple Bottom Technical Formations For The Asset Managers. With record cash on the sidelines, a rise in risk assets and the recent move lower in yields, can asset managers finally have their share prices participate? Of particular interest is the potential triple bottoms on NY1, CML and QLT. Ninety One Ltd (NY1, 4123c). I drew the lines on this chart however the share moved before I could include it in my notes. Quilter Plc (QLT, 2078c) Coronation Fund Managers (CML, 3274c). You may have seen that one of it's subsidiaries is engaged in a dispute with SARS. Monday 20-November-2023, 06h30 Tactical Trading Guide: JSE Equities. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Sunday 19-November-2023, 22h00 (Pre-Market Asian Session) Tactical Trading Guide: Major FX Pairs. *The readings are subject to change as the price action develops. Friday 17-November-2023, 06h30 Making Money With Mr. Price (MRP). At one point during yesterday's session, the share was down by 6.1% from the previous day's close. By the end of the session, the share was lower by 4.82%. On this page yesterday morning, MRP was a share I specifically discussed, highlighting it's short term overbought rating. You may wonder how I picked up on this opportunity? Two data points informed my view: (1) the Technical Summary which showed the share in the overbought category and (2) the Tactical Trading Guide which provided readings across 3 time frames: short, medium and long term. Since we are primarily short term traders who seek to generate cash flow from price volatility, we mostly focus on the data/readings for the short and medium term time frame. As you may have seen, the short term reading stated the following: "Do not enter buy/long here. The reward-to-risk is unappealing" while the medium term reading was as follows: "The general trend is up, however, look for failure to hold the prior session highs to initiate a 1-2 day short/sell setup". Here, failing to hold the prior session highs in an overbought range was key to anyone who looked to initiate a short/sell trade. From a research insight perspective, technology and automation allows me to inform you about potential opportunities for over 75 JSE listed shares. In some cases, this is then combined with my manual review of specific opportunities which I wish to highlight. On a daily basis, both the Technical Ratings Summary Screen and the Tactical Trading Guide is published to make available to you, the client, which serves as a guide to your trading. This how I'm finding opportunity, so that you as our client, can do what you aim to do, which is to simply make money. Friday 17-November-2023, 06h30. Reinet Investments (RNI). As of yesterday's close, the share is in a short term high bullish momentum regime while approaching overbought. It's entirely possible that the share could trade higher on an intraday basis, however, traders want to look for an overshoot to the upside and a failure to hold the prior session highs. This could open up an opportunity to short/sell and participate if the share develops a bearish reversal. Yesterday's end of reading was as follows: Friday 17-November-2023, 06h30. Long Netcare, Short Life Healthcare. Update. I discussed this opportunity on 07 September, which, looking back, was the day that the pair bottomed. This idea is higher by 19%. Friday 17-November-2023, 06h30 Life Healthcare (LHC, 1756c) Yesterday the share sold off sharply (-7.56%) on the back of it's results. Technically, here are two items to note: (1) the gap created on 15 February is close to be filled and (2) the Tactical Trading Guide for both the short and medium term time frames state the following: "Reward-to-risk becoming attractive for a buy/long position". It's possible that the share continues to weak however it may be worth keeping in mind the two aforementioned factors for a potential bullish reversal trade. I'm placing this name on my watchlist. Life Healthcare Daily Chart - Highlighting the pending gap close within the parallel channel. Friday 17-November-2023, 06h30 Capitec Bank (CPI). 3 Points To Note: The potential price path highlighted a few days ago (black arrow) is being followed with the share having traded higher in recent days. Here are 3 points to note: (1) A bearish inside bar which may signal a slowdown in upward momentum and the start of a short term bearish reversal (2) the share is at the upper boundary of the channel + overhead swing high (3) The Tactical Trading Guide for the short term states the following: "Buyers in control but weakness on the lower time frame. Look for a pullback to the 8/21-EMA before the next move higher". Note: The 21-EMA is at R1838 at the last close. This represents 5.8% downside from current levels, should the share see a pullback toward this range. Friday 17-November-2023, 06h30 Tactical Trading Guide. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Friday 17-November-2023, 06h30 JSE Short Term Technical Ratings, as of yesterday's close. Thursday 16-November-2023, 07h31 Strategy Screen: Long Term: "After a general downward trend, some buyers are showing interest." *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are highlighted in the column to the far left. Thursday 16-November-2023, 07h01 Mondi Plc. When Mondi dropped by 6.8% on Thursday 19 October, the end of day reading via the Tactical Trading Guide was as follows: "Aggressive selling recently however, the buy/long reward-to-risk may be attractive" (see the extract below). Since then, the share rallied from 28998c to yesterday's high of 32642c - a 12% ungeared gain in just under 4 weeks. Mondi Plc (MNP): At yesterday's close, the share appeared in the overbought category, on the short term time frame, with the following reading: Mondi Plc (MNP): Also at yesterday's close, the share showed the following reading for the long term: Mondi Plc (MNP) Bottom Line: while the medium to long term technical structure appears positive, short term overbought conditions could offer an opportunity to trade on the short (sell) side. Thursday 16-November-2023, 06h30 JSE Short Term Technical Ratings, as of yesterday's close. Thursday 16-November-2023, 06h30 Mr. Price (MRP). Over the medium term, a positive trend has developed however, if your time frame is short enough you can consider a short/sell as it is overbought. Short, Medium and Long Term Comments on the share can be seen on the table from my Tactical Trading Guide below. *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. Thursday 16-November-2023, 06h30 Copper Futures (HG). Each time it got down to $3.55, buyers stepped in. Recently, the commodity emerged from a falling wedge technical formation and is now attempting to work itself out of a 2 month base. Can they push it above $3.75? Thursday 16-November-2023, 06h30 Performance: AGL vs KIO over 3 months. AGL flat vs KIO +30%. Historically, the two shares are closely correlated. Is there an opportunity for a market neutral/pairs trade for a potential closing of the gap? i.e. Buy AGL vs Sell KIO. Ratio at last close: 0.8860. This morning, these were some of the headlines around Iron Ore (Source: TradingView) Thursday 16-November-2023, 06h30 U.S Global JETS ETF - Target reached for a 12% Gain. Bank/Take Profit. Thursday 16-November-2023, 06h30 Tactical Trading Guide. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Wednesday 15-November-2023, 09h34 Thungela Resources TGA. Bank/Take Profit. Target exceeded, with a high of 16800c this morning. Well done to all who took advantage of the opportunity to trade. Wednesday 15-November-2023, 09h34 Sasol SOL - Traders are currently in the money by +1411c or +6.2% (ungeared), with the share reaching a high of 23982c this morning. The full target is 24300c. The suggested buy/long entry was 22571c. As the share heads higher, traders could consider the following: (1) Bank/Take Profit (2) Partially scale out (3) Adjust the stop-loss to protect profits. Well done to all who took advantage of the opportunity to trade. Wednesday 15-November-2023, 06h30 JSE Short Term Technical Ratings, as of yesterday's close. Wednesday 15-November-2023, 06h30 Hammerson Plc (HMN). Update. On Sunday afternoon I published the chart of Hammerson, with a bullish view that the share has the potential to break out of a multi-month channel. Yesterday the share rallied (+15%) on potential corporate action (in talks to sell stake in Value Retail for $1.2bn). Hammerson PLC (HMN) - as per my view on Sunday. Wednesday 15-November-2023, 06h30 US 10-Year Bond Yield (US10Y). Downside target reached (lower boundary of channel) / bearish candle structure as inflation comes in lower than consensus expectations. Lower yields = higher equities. Wednesday 15-November-2023, 06h30 Strategy Screen: [SHORT TERM]. "Attempting a bullish reversal following a consolidation phase." *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are highlighted in the column to the far left. Wednesday 15-November-2023, 06h30 KIO. At current levels (as per the short term time frame), the share appears extremely overbought. The 14-day RSI is at 75 and the share is trading 21% above it's 75-day EMA. The reading as per the Tactical Trading Guide for the SHORT TERM and MEDIUM TERM is as follows: Clients of Unum Capital were alerted to a buy/long setup at R398 in early September. The share reached a high of R579 during yesterday's trading session. The original chart is highlighted below. Wednesday 15-November-2023, 06h30 Tactical Trading Guide. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Tuesday 14-November-2023, 07h59 African Rainbow Minerals (ARI). In Q1 2023, Unum Capital clients were alerted to the potential relative underperformance of ARI vs the broader market. Since then, the share declined by 42% to it's recent lows. The relative/ratio chart at the time (07 March 2023) is highlighted below. African Rainbow Minerals (ARI). On an absolute basis (at current levels), the share's attempt to emerge from it's bear channel may be indicative of a potential change of trend. The chart, as of yesterday's close is highlighted below: Tuesday 14-November-2023, 06h30 JSE Short Term Technical Ratings, as of yesterday's close. Tuesday 14-November-2023, 06h30 JSE Tech vs Top 40 Index. The chart below is the JSE Technology Sector relative to the JSE Top 40 Index and as well as the ratio's distance vs it's 75-Day EMA and 200-Day SMA. Here, I highlight the technology (NPN, PRX) having traded in a year-to-date sideways range and testing the overhead resistance for the 5th time. As you may already know, persistent tests of a level may eventually lead to the level being breached. In this case, it would mean that the constituents will outperform the JSE Top 40 Index on a relative basis. Tuesday 14-November-2023, 06h30 Sasol (SOL). Update on Buy/Long Idea. Traders are currently in the money, with Monday's close at 23007c. Suggested entry was 22571c or lower. The share was the 4th best performer on the JSE Top 40 during yesterday's session. As always, traders could consider the following if/when the share approaches the target: bank/take Profit, partially scale out, adjust the stop-loss to protect profits. Tuesday 14-November-2023, 06h30 Thungela Resources (TGA). Update on Buy/Long Idea. Traders are currently in the money. Recommended last Wednesday on the day that it found a bottom (15232c). It has started to emerge from an ultra short term oversold range, hitting a high of 15966c during yesterday's trading session. As always, traders could consider the following if/when the share approaches the target: bank/take Profit, partially scale out, adjust the stop-loss to protect profits. Tuesday 14-November-2023, 06h30 Strategy Screen: [SHORT TERM]. "There has been aggressive buying in the share, however do not chase at current levels. Monitor for an overshoot to the upside or a failure to hold the prior session highs, which may provide an opportunity to short/sell back to the 8-day EMA/lower levels." *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are highlighted in the column to the far left. Tuesday 14-November-2023, 06h30 Strategy Screen: [SHORT TERM]. "Attempting to advance while in a bullish regime. If it pulls back, consider using the prior session close or 8-EMA as an accumulation zone". *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. The tickers are highlighted in the column to the far left. Tuesday 14-November-2023, 06h30 JSE Relative Sector Ratings, as of yesterday's close. Tuesday 14-November-2023, 06h30 Tactical Trading Guide. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Monday 13-November-2023, 06h30 Analyst Thoughts: As we entered last week, the technical summary gave us a clue as to the reward-to-risk on both the long (buy) and short (sell) side. This was reflected through (1) Market Breadth, which showed an high-than-average number of shares in an overbought and high bullish momentum/approaching overbought regime while some names held a 'strong' technical rating. The long side reward-to-risk was unappealing as few names traded in the high bearish momentum/oversold regime. Gradually, over the course of the week, we saw some constituents unwind from their overbought positions, giving traders the opportunity to take advantage of the downside moves. From a macro perspective, the lower yields and lower oil prices projected the view that an acceleration in the global economy was underway. While I am cognizant of the macroeconomic news flow, my belief is that the clients can benefit and profit from focusing on the price and price action of the shares that we trade. Coming into this week, there is a balance between regimes with most constituents equally spread across the 'strong', neutral', and 'weak' categories. Overall, this may reflect shares that are in a consolidation phase. In this case, traders want to look for breaks of ranges to trigger the next directional moves both the long and short side. The Tactical Trading Guide can be used as a tool to determine the position of each share. Readings are subject to change and are updated at the end of each trading session. Alternatively, the Tactical Trading Guide can be accessed as a live tool on the telegram group. Monday 13-November-2023, 06h30 US 10-Year Bond Yield. Some of the biggest and most influential investors in the world consider the US10Y to be one of the most important instruments to monitor. Equity traders can create an advantage for themselves by actively monitoring the level of interest rates and bond yields in order to effective assess the reward-to-risk of the market environment. Since my last note at 4.83%, bonds rallied (yields lower) with the price moving toward a low of 4.47%. This was the reason for the rally in global stocks, specifically the S&P 500 and Nasdaq which advanced for 9 consecutive sessions. At current levels, the bond yield trades near the lower boundary of the channel formation and just above the prior breakout level which is around 4.40%. Monday 13-November-2023, 06h30 JSE Short Term Technical Ratings, as at Friday's close. Monday 13-November-2023, 06h30 JSE Relative Sector Ratings, as of Friday's close. Monday 13-November-2023, 06h30 Anglo American Plc (AGL, 45784c). I wrote about AGL at the beginning of the year (17 January), highlighting the overbought nature of the share which coincided with price trading at the upper boundary of it's long term resistance channel. The share is down at multi-month lows, having declined from +R770 to a recent low of R462 (a 40% decline). Below, I take a look at AGL from two angles. AGL Chart #1. Getting close to an inflection point at the lower boundary of a channel. AGL Chart #2. Breaking down from a multi-year topping structure. Minor support at 42500c. Monday 13-November-2023, 06h30 Commodities: Multi-Time Frame Ratings Monday 13-November-2023, 06h30 Satrix Resources (STXRES, 5449c). Zooming and taking a skyscraper view, you'll notice that the group/sector is trading at the upper boundary of a multi-year range. While short term rebounds are possible, it is also breaking down from a medium term topping structure while also trading near the mid-point of a large upward trending channel. This is the monthly chart. Monday 13-November-2023, 06h30 Satrix Property (STXPRO, 848c). (1) Channel Break Pending? (2) Strength Ahead?. It may be worthwhile to pay attention to the current structure. Weekly Chart. Monday 13-November-2023, 06h30 Hammerson Plc (HMN, 552c): (1) 1-Year sideways consolidation (2) Potential breakout from short term bear channel. Watchlist Addition. Monday 13-November-2023, 06h30 Relative/Ratio Chart: Satrix Financials (STXFIN) vs JSE Top 40 Index (J200). Holding the breakout from the December 2018 downward trend. Monday 13-November-2023, 06h30 Old Mutual (OMU, 1208c). Two angles: (1) the potential for a failed head and shoulder technical formation. Failed H&S formation are often considered bullish setups. Here, clearing 1250c could fuel momentum buyers. (2) The share has been trading in a well-defined upward channel (blue shaded area) while the more recent trend has been one of consolidation (red shaded area). A breach of the red channel may too, fuel buyers looking for a change of trend. Monday 13-November-2023, 06h30 Clicks Group (CLS, 28600c). Update. The position of a price vs a trend line as well as the share's technical rating can provide valuable insight into a trader's subsequent course of action. The previous highlighted trend line resistance was held and the share has started to unwind from a short term overbought condition. On Friday the share found some support on it's 8-EMA but my assessment is that the EMA is likely to be breach, with some support to be found lower at the rising 21-EMA (blue shaded area around 27200c). Monday 13-November-2023, 06h30 Natural Gas Futures (NG). (Client Request). The commodity is trading in the mid-point of it's gradually upward trending channel, which gives it a neutral rating over the meidum term. Over the ultra short term, a high bearish momentum rating is in place with the commodity havibg retraced from it's highs. An unfilled gap is in place at $2.66 which has the potential to be filled while support is slightly higher at $2.85. Monday 13-November-2023, 06h30 Tactical Trading Guide. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Monday 13-November-2023, 06h30 Resource Centre Monday 13-November-2023, 06h30 PREMIUM PERSPECTIVES 🔒 Trendlines, specifically those that form part of parallel channels, can be effective in identifying optimal reward-to-risk opportunities on both the buy (long) and sell (short) side. This chart is on my WATCHLIST for potential swing buy long. lester@unum.co.za. Friday 10-November-2023, 06h30 Strategy Screen: [SHORT TERM]. Consolidating within an upward trend. If the 8-EMA has been breached, use the 21-EMA as a potential buy/range. *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. The readings are subject to change, based on the subsequent price action/price development. Friday 10-November-2023, 06h30 Sappi (SAP). Update. In Sunday afternoon's note I highlighted the share which traded at the lower boundary of it's parallel channel. This followed the sharp unwind from overhead supply on 17 October. Yesterday, the group reported results, with the market responding positively, pushing the share higher by over 7% at one point during yesterday's session. The chart below is SAP yesterday morning at 10h57 as it traded +7% (it came off the highs closing +4.91% for the session). Well done if caught the bullish reversal. Friday 10-November-2023, 06h30 Tactical Trading Guide. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Friday 10-November-2023, 06h30 JSE Short Term Technical Ratings, as at yesterday's close. Thursday 09-November-2023, 08h05 Strategy Screen: Thungela Resources. See Short Term and Medium Term Columns. *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. Thursday 09-November-2023, 07h48 Standard Deviation Screen: Capitec Bank (CPI) Further to my CPI view, the following was my comment on Monday premarket: Capitec Bank (CPI, 185494c). Short Term = High bullish momentum. The share is nearing the the upper boundary of it's parallel channel, which is in line with the previous demand-supply zone (circled areas). It could and is likely to overshoot this range however this could open up an opportunity for a tactical short/sell at or around the aforementioned resistance zone. Thursday 09-November-2023, 07h22 Strategy Screen: Dis-Chem Pharmacies (DCP). *A strategy screen is a filter derived from my Tactical Trading Guide which aims to highlight a share's technical position or groups certain shares according to their technical reading on the same time frame. Thursday 09-November-2023, 06h30 JSE Relative Sector Ratings, as of yesterday's close. Thursday 09-November-2023, 06h30 JSE Sector Trends vs Market (JSE Top 40 Index) Thursday 09-November-2023, 06h30 British American Tobacco (BTI, 57702c). On the telegram group on 15 September, I alerted clients to a bank/take profit. Unbeknownst at the time, this was the same day on which the share peaked, which was followed by a downward trend from R644 to a low of R548. The share has since develop higher lows while yesterday's candle was a 'positive tell' in the upward trend. The share also closed above it's 8/21-EMA and just below the resistance that has been in place since 13 October. I don't see why the share cannot attempt to make a push back to R600 or above. Thursday 09-November-2023, 06h30 Pick n Pay (PIK, 2553c). High Speculative View On A Sector Laggard. In a similar manner to the downside extension and bottom of 01 June 2023, the share recently traded 26% below it's 75-day EMA versus a distance of 24% on 01 June. The medium to long term trend has been down, however the current extension the 75-day moving average may offer an opportunity to participate in an upside bullish reversal off oversold levels. The candle structure for the last 2 weeks has been positive, characterized by doji's and long lower tails which may suggest buying interest following the share's plunge. The upside pivot is between 2580c and 2620c. Clearing these levels would support a move toward the share closing an unfilled gap at 2962c. Thursday 09-November-2023, 06h30 Pepkor Holdings (PPH, 1840c). The candle structure for the last 3 trading sessions reflect possible indecision following a strong push higher. The share is in a short term high bullish momentum phase while also approaching an overbought range. One price action scenario is that the share could attempt to break above the range highs (+1865c) followed by a failure to hold above this range i.e. a false breakout. Also note that the share is trading near the upper boundary of it's 50-day 2 standard deviation linear regression channel. On an intraday basis, breaking and holding below 1835c on an intraday basis, would suggest that the share is losing upside momentum and that seller have taken control of the price action. Thursday 09-November-2023, 06h30 Tactical Trading Guide. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Thursday 09-November-2023, 06h30 JSE Short Term Technical Ratings, as at yesterday's close. Wednesday 08-November-2023, 13h09 Thungela Resources Buy Idea via CMS. Also published to Telegram group. Wednesday 08-November-2023, 10h35 Sasol Buy Idea via CMS. Also published to Telegram group. Wednesday 08-November-2023, 07h15 Tiger Brands (TBS, 17058c). Rejection In An Overbought Range. We have seen a reversal an strong upside follow-through with the share appreciating from the buy signal at 14332c (via the Tactical Trading Guide, see extract below) to the recent high of 17639c where OVERBOUGHT conditions were present. My provisional zone for a short term buy/long re-entry for clients is R161 to R163. Wednesday 08-November-2023, 06h30 Tactical Trading Guide. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Tuesday 07-November-2023, 22h30 Key Markets. To Read The Full Post, Click On The Image Below: Research Archive Pages: https://www.unum.capital/post/_note https://www.unum.capital/post/notable

Notable is a page dedicated to fast-paced, running research commentary intended to alert to client to a potentially significant level or development, mainly from a technical perspective. Further, the content gives clients access to the analyst's perspective of an instrument which can help in preparing for a potential trading opportunity. Please Scroll Down For an enlarged view, click on the arrows in the top right corner of the image. Wednesday 08-November-2023, 06h30 Exxaro Resources (EXX, 18473c). Whilst seemingly insignificant, trend lines can help a trader manage risk and uncover opportunities. False breakout at the previously highlighted demand-supply zone, while having traded in an overbought range. Bearish unwind in the mid to late stages of a rising wedge technical formation. Clients were alerted to a buy at R145. The share traded over R200 in recent days. Well done to all who took the opportunity to trade. As of yesterday's close, this is what the Tactical Trading Guide stated for the 3 major time frames: Wednesday 08-November-2023, 06h30 Thungela Resources (TGA, 15621c). The medium term resistance level at R186 to R190 held followed by a bearish reversal, breach of channel and a loss of the 50-day exponential moving average. As noted last week: "For now, the 50-day EMA is acting as a support level, which however the candle structure appears weak which may mean that the share could see a 'flush' to lower levels." The R151 to R154 range will be my first level of interest. Wednesday 08-November-2023, 06h30 Momentum Metropolitan (MTM, 2133c). As highlighted on Monday, the share traded in an overbought range, with the price in line with the upper boundary of the upward trending channel. On Monday, a 'doji' - signaling indecision and yesterday, a downside move of 3.66%. There are opportunities to generate cash flow over the short term. Wednesday 08-November-2023, 06h30 JSE Top 40 Index. Following the ultra short term breadth thrust, which saw a significant number of constituents approaching over/overbought range at the beginning of this week, the index has been rejected at the upper boundary of the downward trending channel which is in line with the previous demand-supply zone (horizontal blue shaded trend line). Tuesday 08-November-2023, 06h30 JSE Short Term Technical Ratings, as at yesterday's close. Tuesday 07-November-2023, 16h38 Brent Crude Oil. My last comment on oil was on 12 September, which was as follows: "We have seen a significant move over the past 9 weeks, with Brent higher from $75 to $92. The short term trend is strong with the commodity recently having cleared resistance of a 9-month base. While the trend is up, traders should are alerted to the momentum indicators which may indicate the price nearing overbought conditions, with the 7-day RSI at 80 and the 14-day RSI at 73. In the short term, the buy/long side reward-to-risk is becoming less appealing vs prior weeks. The commodity trade slightly higher to $95 but has since struggled to retain it's bullish momentum, with sellers taking control as the price retraced toward it's lowest level since August. Next, the lower boundary of the parallel channel is in focus. This is in line with the horizontal swing lows near $81 seen on 24 August. This page is full. Please click on the following link to continue reading my research: https://www.unum.capital/post/noted Tuesday 07-November-2023, 14h34 Gold ($1960). Comment as per the telegram group. Anyone trading with an ultra short term time frame? I don't usually publish 2-hour charts however, in the last 90 minutes, the I've been looking at Gold on the aforementioned time frame. I've noticed that it's nearing oversold on 2H and 4H while also at horizontal support and at the lower boundary of the parallel channel. The candle structure (at the time of writing remains weak however the reward-to-risk for a small bounce is starting to appear favourable. The arrows on the chart represents a potential price path. Can it trade lower? Yes. Can it first develop a base? Yes. As mentioned, an ultra short term view. Get In. Get Out. Get Paid. I'm looking forward to your thoughts. Tuesday 07-November-2023, 06h30 Woolworths Holdings (WHL, 7346c). 3 Points To Note (1) Ultra Short Term Rating = Overbought (2) Candle Structure = 'Hanging Man' Formation (3) Trading at the upper boundary of it's 50-day 2 standard deviation linear regression channel. Can it trade higher? YES. Can it develop a short term top? YES. Tuesday 07-November-2023, 06h30 Sibanye Stillwater (SSW, c) and Impala Platinum (IMP). Bullish Reversal From Buy Signal. We have started to see some buying in the shares/sector, with the constituents reversing off oversold levels. In my response to Taahir's query on 25 October, I highlighted both SSW's and IMP's automated SHORT TERM reading which stated that the reward-to-risk is becoming attractive for a buy/long position. On the same data sheet, IMP showed us that for both the short term and medium term, a buy/long position had become attractive. Below is the Tactical Trading Guide for the Platinum & Precious Metals Sector on 25 October. Tuesday 07-November-2023, 06h30 Anglo American Plc (AGL, 50641c). Update. Upside follow-through on highlighted pivot. On Monday, International Investment Bank Jefferies upgraded the share to a 'buy' rating with a price target of R654. The bullish reversal is in line with my previous view (25 October) which considered the pivot of R484.50 as a key level for market participants looking to capture short term upside. Yesterday's high = R508. Below is the Tactical Trading Guide for AGL as of yesterday's close followed by the chart, also at yesterday's close. Tuesday 07-November-2023, 06h30 Strategy Screen: SHORT TERM - 'Would Not Enter Buy/Long At Current Levels. Reward-To-Risk Is Unattractive': Stocks That Match: 'CPI, DCP, PPH, TFG, TRU'. Tuesday 07-November-2023, 06h30 Dis-Chem Pharmacies (DCP, 2703c). In with the above strategy screen, the chart below highlights how I currently view DCP. Here, I'd expect another attempt HIGHER, however I would monitor for a candle which suggests that the short term upward momentum is slowing (either via a 'doji', 'long upper tail', 'dark cloud cover' etc.) Tuesday 07-November-2023, 06h30 Tactical Trading Guide. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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 on the image below to access the data, as of yesterday's close. Tuesday 07-November-2023, 06h30 JSE Short Term Technical Ratings, as at yesterday's close. Monday 06-November-2023, 06h30 Analyst Thoughts: Over the course of this week we saw a large number of constituents emerging their short term oversold conditions to neutral then strong then further up to a high bullish momentum/approaching overbought condition. Some names have also started to trade in an overbought range when measured on the ultra short term time frame. The graphic below is a summary of the relevant regimes for various shares. This helps a trader understand if share is either, overbought, in a high bullish momentum/approaching overbought phase, strong, neutral, weak, high bearish momentum/approaching oversold or oversold. My comment last week Monday (pre-market) on this page was as follows: "JSE + Global: Further downside could see extreme ultra short term conditions develop, triggering potential bullish reversal opportunities." Monday, 06 November 2023 06h30. JSE Top 40 Index. The above-mentioned bullish reversal was also reflected at an index level with the JSE Top 40 having recovered off Wednesday's lows, with upside follow-through/sharp bullish reversal on Thursday. At current levels, the index is at the upper boundary of the downward trending channel and at the previous demand (support) zone. Monday 06-November-2023, 06h30 Tactical Trading Guide. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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. To access this data, e-mail lester@unum.co.za Monday 06-November-2023, 06h30 JSE Relative Sector Ratings as at Friday's close. Monday 06-November-2023, 06h30 Momentum Metropolitan Holdings (MTM). The share is trading at a multi-month high relative to the broader market, however appears extended to the upside, with a potential short/sell opportunity looming. As of Friday afternoon, the Tactical Trading Guide stated the following: "Would not enter buy/long at current levels. The reward-to-risk is unappealing". Technical Perspective #1: At the upper boundary of rising channel. The could overshoot to the upside before developing a short term top, followed by a bearish reversal. Technical Perspective #2: Nearing multi-year overhead resistance. Monday 06-November-2023, 06h30 Capitec Bank (CPI, 185494c). Short Term = High bullish momentum. The share is nearing the the upper boundary of it's parallel channel, which is in line with the previous demand-supply zone (circled areas). It could and is likely to overshoot this range however this could open up an opportunity for a tactical short/sell at or around the aforementioned resistance zone. Monday 06-November-2023, 06h30 Standard Bank (SBK, 19400c). The Tactical Trading Guide is available to clients upon request. The data set represents the end-of-day reading for the previous session and acts as a guide to managing risk and uncovering trading opportunities. It covers over 75 shares and is sorted by sector ease of viewing. Standard Bank (SBK) has seen considerable upside follow-through from the reading on which stated: "Weak within a sideways consolidation. Has recently been sold off. Expect a small rebound". From R174, the share has advanced to test a high of 19638c. Monday 06-November-2023, 06h30 Commodity Multi-Time Frame Ratings Monday 06-November-2023, 06h30 Sappi (SAP, 3932c). On Tuesday 17 October (pre-market) I highlighted the chart which made reference to the short term overbought conditions at a key resistance zone. Subsequently, the share declined from above R46 to a low of R37.76 and, is currently trading at the lower boundary of the parallel channel. On Thursday, a long lower tail was printed, while on Friday the share held within the previous day's range. While oversold conditions are present, the near-term risk is the company's earnings which are due on Thursday 09 November. If the share is sold off further the swing lows seen at the beginning of August will be a new level of interest while a positive surprise (if any) could support a bullish reversal from at or around current levels. Monday 06-November-2023, 06h30 Sasol (SOL, 23200c). Can it trade lower? Yes. Candle it become more oversold? Yes. However, the candle structure, an inverted hammer, is one of interest which is often found at or near the tail end of a downward trend. In this holding above or around the previous session's open would support a bullish reversal. Monday 03-November-2023, 06h30 The Foschini Group (TFG, 10924c). Timing is possible, but never easy. Although I always make my best effort to achieve it, my timing will NEVER be 100% perfect. On 12 October I discussed the channel break and potential failed head and shoulder technical formation (a bullish setup).. The upside follow-through did not happen immediately as we saw a minor pullback, which was then followed by aggressive buying. Many times, this business requires massive patience or, as I like to call it: 'PAY-tience'. Below are two charts: (1) my original perspective on 12 October and (2) the updated chart. Well done to all who capitalized on the opportunity. Monday 03-November-2023, 06h30 Equally-Weighted Chemicals vs JSE Top 40 Index. Correction in an upward trend. The idea would be to re-enter a the sector on a relative basis near the lower boundary of the upward trending channel. Monday 06-November-2023, 06h30 Educational Post Generating Cash Flow Through Active Trading Strategies: Truworths (TRU) As An Example Clients of Unum Capital have benefitted from the focus on price and in particular, the short term time frame that looks to capitalize off volatility of share prices. Going forward, I'm looking for TRU to unwind from an overbought range however, here are two occasions where clients have been alerted to opportunities on both the buy (long) and sell (short) side. Sell/Short. Clients are regularly alerted to oversold/overbought conditions which helps to recognized potential trading opportunities. In this instance, the overbought status and price extension versus the 200-day were key reasons for the sell-side reward-to-risk being favourable. From 7647c, we saw the share price trade down to 6808c, exceeding the downside target. Buy/Long/Cover Short. Clients are regularly alerted to potentially significant developments on the standard deviation screens, from either a buy, sell or neutral perspective. On 21 October (pre-market) a chart was highlighted which showed the share trading at the lower boundary of it's 50-day 2 standard deviation linear regression channel. From 6917c, we saw the share gain 18.3% to close at 8183c on Friday. Clients of Unum Capital have access to a research insights and data, which include combination of strategies that are used to identify trading opportunities, assess reward-to-risk and manage risk. To trade, get in touch with the Unum Capital trading desk today. What is the 'next best probability' for Truworths? The share has appreciated by 19.8% off it's recent lows (19 October). At current levels, using multiple metrics, the share is in an overbought range. Despite being in an overbought range, it can trade higher, however the reward-to-risk is unappealing and does not favour buyers. . Candle Structure: The bullish bars have been developed near the tail end of an upside move. What matters for those looking to sell is the follow-up candle, which can be as follows: a 'doji' which signals indecision, a 'long upper tail' which may signal exhaustion, a 'dark cloud cover' which may also signal exhaustion. 4. The printing of the aforementioned candles would suggest that the share due a pause/consolidation or minor pullback. Monday 06 November 2023 06h30 Premium Perspective🔒 To unlock the stock, e-mail lester@unum.co.za Monday 06 November 2023 06h30 Resource Centre (Click On The Image To Enlarge) Friday 03-November-2023, 13h15 Standard Deviation Screen: 1. Reinet Investments (RNI) 2. Shoprite Holdings (SHP) 3. Pepkor Holdings (PPH) Friday 03-November-2023, 06h30 To me, one of the most important instruments in the world is the US 10-Year Bond Yield. Equity traders can create an advantage for themselves by actively monitoring the level of interest rates and bond yields in order to effective assess the reward-to-risk of the market environment. Update: The US 10-Year Bond Yield is lower by 20 basis points from Tuesday's comment that lower levels would be seen. This has supported the rally in stocks over the last two sessions. Clients who requested the following two charts, had access to my perspective below: Friday 03-November-2023, 06h30 Strategy Screen: SHORT TERM - 'Strong Attempt At A Bullish Reversal Following A Consolidation Phase': Stocks That Match: INL, N91, SHC Friday 03-November-2023, 06h30 Shoprite Holdings (SHP, 25251c). Clients of Unum Capital enjoy the benefit of access and interaction with analysts, traders and portfolio managers to engage on various market issues. For SHP was a query on Friday 20 October, the share's momentum regime rating was "high bearish momentum/approaching oversold". This meant that although the share was in a downward trend, the possibility of minor rebounds remained. Subsequently, bullish reversal occurred during the following session, with upside follow-through from 23087c at the time to yesterday's high of 25383c. At current levels, SHP trades at more than 2x standard deviation over 50 days when viewed via it's linear regression channel. Friday 03-November-2023, 06h30 Standard Deviation Screen: Below are a two names (SLM and TRU) which trade at the upper boundary of the 50 day standard deviation linear regression channels. Friday 03-November-2023, 06h30 Clicks Group (CLS, 29147c). The share is higher by 22% from the buy/long signal as per the tactical trading Guide on end of day on Friday 20 October. As per the Tactical Trading Guide, the end of day SHORT TERM reading is as follows: "Would not enter a buy/long at current levels. The reward-to-risk is unattractive". Simultaneously, the share is trading at the upper boundary of it's 50-day 2 standard deviation linear regression channel, which supports my view that the reward-to-risk does NOT favour buyers of the share at current levels. The upward momentum is strong and there is a possibility that the share could trade higher on today (Friday), however failing to hold the prior session highs (using the high of day as a pivot) could open up a bearish reversal trade! CLS Tactical Trading Guide as at end of day on Friday 20 October. Friday 03-November-2023, 06h30 MTN. Medium Term Downside Targets Being Reached. Chart #1: MTN Weekly. The share nearing the sub-R90 target from the bear flag discussed at 11448c on Monday 29 May. Original Chart Below. Chart #2: MTN Weekly. Downside follow-through from the consolidation structure. Original Chart Below. Chart #3: MTN Daily - downside follow-through from the SELL view close to R200 per share (R197) in March 2022. This was the medium term peak for MTN. Reading this research but not a client of Unum Capital? Sign up today to obtain frequent access to high quality research insights. E-mail lester@unum.co.za Friday 03-November-2023, 06h30 JSE Short Term Technical Ratings, as at yesterday's close. Friday 03-November-2023, 06h30 Tactical Trading Guide. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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. To access this data, e-mail lester@unum.co.za Thursday 02-November-2023, 06h30 JSE Sector Ratings as at yesterday's close. Thursday 02-November-2023, 06h30 Kumba Iron Ore (KIO, 49620c). On the watchlist. I highlighted the share as a buy at R398, from which we saw it trade up to R500. At current levels, R498-R500 is a resistance zone. The momentum is up, however, failing to retain R488-R490 could see a minor pullback unfold, targeting the rising 50-day EMA. Thursday 02-November-2023, 06h30 KIO Buy Idea as highlighted to clients on Monday 11 September (Pre-Market). Thursday 02-November-2023, 06h30 Standard Bank (SBK, 18239c). Within the large upward channel, my eye has recognized the development of a potential bear flag technical formation + the 50-day EMA is flat (starting to point lower). Breaching the lower boundary of the channel would open up a short/sell. The risk to the idea is that we could see strong basket buying in SA-focused shares which would nullify the idea. To mitigate this directional market upside risk, traders could consider a sector pair for e.g. Buy FSR vs Sell SBK. Thursday 02-November-2023, 06h30 Truworths (TRU, 7598c). On Monday 23 October I pointed out the share trading at the lower boundary of it's 50-day linear regression channel from where traders could either, (1) reduce short positions, or (2) enter tactical buy/long positions for a minor rebound. The share has rallied from just above R69 to above R76 and is back to being overbought in the ultra short term. For active traders, failure to hold the prior session/range highs would suggest that an unwind from these levels is possible. Compared to last week's print at the weekly lows, the buy/long reward-to-risk is unappealing. Note: the price is nearing the upper boundary of the 50-day 2 standard deviation linear regression channel. Thursday 02-November-2023, 06h30 Thungela Resource (TGA): The previously highlighted resistance level at R186-R190 held with the share retreating to a low of R163.62 during yesterday's session. As mentioned on Monday, the upward trending channel was at risk of being breached which occurred on Tuesday with a 5.15% decline. For now, the 50-day EMA is acting as a support level, which however the candle structure appears weak which may mean that the share could see a 'flush' to lower levels. Thursday 02-November-2023, 06h30 Tactical Trading Guide. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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. To access this data, e-mail lester@unum.co.za Thursday 02-November-2023, 06h30 JSE Short Term Technical Ratings, as at yesterday's close. Wednesday 01-November-2023, 08h37 JSE Strategy Screen: Short Term. "Aggressive buying but do not chase. Look for an overshoot to the upside or failure to hold the previous session range highs to short/sell back to the 8-EMA". To unlock the stocks, e-mail lester@unum.co.za Wednesday 01-November-2023, 06h30 Deteriorating Candle Structure At Resistance. The R192 to R195 was flagged as potential resistance. We have since seen the share struggle to clear this range, with the candle structure starting to deteriorate. The recent range is made up of the following: long upper tails, doji's while yesterday a large bearish engulfing candle was printed by the close of trade. We could see an early session rebound however holding below 18950 could suggest further weakness and the start to a short term bearish reversal. To unlock the stock, e-mail lester@unum.co.za Wednesday 01-November-2023, 06h30 Potential Buy/Long Opportunity (Reversal Strategy). 5 Points To Note. To unlock the stock, e-mail lester@unum.co.za Wednesday 01-November-2023, 06h30 JSE Short Term Technical Ratings, as at yesterday's close. What does this data highlight? Which phase a share may be in, for example 'oversold' or 'overbought'. To access this data, e-mail lester@unum.co.za Wednesday 01-November-2023, 06h30 Tactical Trading Guide. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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. To access this data, e-mail lester@unum.co.za Tuesday 31-October-2023, 11h16 US 10-Year Bond Yield Chart #1. To access this research note, e-mail lester@unum.co.za Tuesday 31-October-2023, 11h14 US 10-Year Bond Yield Chart #2. To access this research note, e-mail lester@unum.co.za Tuesday 31-October-2023, 06h30 Strategy Screen. SHORT TERM: "Attempting a rebound following a downward trend. The share may stabilize further (consolidate) before continuing higher". To access the shares codes, e-mail lester@unum.co.za Tuesday 31-October-2023, 06h30 Strategy Screen: Std Dev/Linear Regression. The share has unwound from a short term overbought range to a high bearish momentum while approaching oversold level. Two features: (1) Trading at the lower boundary of the 50-day standard deviation linear regression channel (2) approaching an unfilled gap which is in line with the 200-week moving average. Tuesday 31-October-2023, 06h30 Truworths (Update). Last week Monday TRU was highlighted on this page within the Standard Deviation Screener. The share traded at the lower boundary of the 2 standard deviation linear regression channel which offered an opportunity to either (1) cover short/sell positions or (2) enter a buy/long position in anticipation of a short term rebound. The subsequently moved higher by 5.9% from 6917c to yesterday's high of 7331c. My view, presented on this page last is highlighted below. Tuesday 31-October-2023, 06h30 Tactical Trading Guide. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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. To access this data, e-mail lester@unum.co.za Tuesday 31-October-2023, 06h30 JSE Short Term Technical Ratings, as at yesterday's close. What does this data highlight? Which phase a share may be in, for example 'oversold' or 'overbought'. To access this data, e-mail lester@unum.co.za Monday 30-October-2023, 06h30 Analyst Thoughts: Key Points On Friday, global equities closed at multi-month lows as bond yields hovered near multi-month highs. Geopolitical tensions continue to weigh on sentiment. Month-on-month inflation rose by 0.3% - the highest since May. Consumer spending was higher than consensus expectations, income was lower than expected. Earning's Seaosn: Underway, with mixed results across sectors. Amazon surging (+6.8%), Ford hammered (-12%), Solar stocks tanking. JSE Top 40 Index at multi-month lows, with poor breadth confirming the move lower. JSE Breadth: The majority of contituents reamin in the 'weak' category, with the second biggest categoy being the 'neutral' category. JSE + Global: Further downside could see extreme ultra short term conditions develop, triggering potential bullish reversal opportunities. Monday 30-October-2023, 06h30 US Market Breadth: Percentage of Shares Above Their 20-day Moving Averages Monday 30-October-2023, 06h30 Tactical Trading Guide. Automated Tool and Strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This data highlights readings from the Tactical Trading Guide (Price Action Tool) which covers over 75 shares and which is also available as a live tool via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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. To access this data, e-mail lester@unum.co.za Monday 30-October-2023, 06h30 Clicks Group. Upside Follow-Through. CLS is an example of an opportunity derived from the Tactical Trading Guide. The data alerted to a buy/long idea on __ with the end of day reading stating the following: "The reward-to-risk is becoming attractive for a buy/long position". Subsequently, we saw the share advance by 13% from 23757c to Friday's high of 26890c. At current levels, the share trades at the upper boundary of it's 50-day 2 standard deviation linear regression channel where the buy/long reward-to-risk (from an entry perspective) has become somewhat unappealing following sharp short term advance. Monday 30-October-2023, 06h30 JSE Sector Ratings Relative To The Top 40 Index, as at Friday's close. What does this data highlight? The status of a sector when compared to the broader market. This could assist a trader in either buying a sector that is showing relative strength or selling/avoiding a sector that is showing relative weakness. To access this data, e-mail lester@unum.co.za Sunday 29-October-2023, 22h00 (Pre-Market Asia) Commodity Ratings (Selected Markets) Monday 30-October-2023, 06h30 Standard Deviation Screen: The following share has unwound from overbought levels to now trade within an oversold zone. This coincides with the lower boundary of the 50-day standard deviation linear regression channel as well as near an horizontal level of support. Also noted is the development of a 'doji' candle formation, which may signal that the share is nearing the tail end of a downside move. This share is on my watchlist for a potential buy/long. To access this data, e-mail lester@unum.co.za Monday 30-October-2023, 06h30 Coronation Fund Managers (CML). Have you zoomed out to consider the monthly chart? I'm looking it from this angle🔒 Monday 30-October-2023, 06h30 Thungela Resources (TGA). The previously highlighted resistance level at R186-R190 held with the share retreating to a low of R171. The price is remain with the upward channel however there is a risk of breaching the upward channel. Below is the the chart as of Friday's close, followed by another chart highlighting my short term view and next level to consider a re-entry. Monday 30-October-2023, 06h30 Thungela Resources (TGA). Next best provisional buy zone🔒 Monday 30-October-2023, 06h30 JSE Short Term Technical Ratings, as at Friday's close. What does this data highlight? Which phase a share may be in, for example 'oversold' or 'overbought'. To access this data, e-mail lester@unum.co.za Friday 27-October-2023, 06h30 Pick n Pay (PIK). To access my view of the price chart and related commentary, e-mail lester@unum.co.za Friday 27-October-2023, 06h30 US JETS ETF: I added an offshore trade idea yesterday evening on the CMS at 20h53. Friday 27-October-2023, 06h30 JSE Short Term Technical Ratings, as at yesterday's close. To access this data, e-mail lester@unum.co.za Thursday 26-October-2023, 12h41 Tactical Opportunities: Harmony Gold. One of the various strategies which a trader could follow is buying a pullback within an upward trend, at certain provisional, predetermined levels. A core principle that has served traders well is buying on a pullback to the 21-day Exponential Moving Average (EMA). Harmony Gold, a share that I highlighted at it's recent lows, has been a consolidation phase near it's highs with some weakness on it's lower time frame. At yesterday's close, the medium term reading was as follows: "Consolidating within an upward trend. If the 8-EMA has been breached, use the 21-EMA as a potential buy range". Today, the share down with the lows of the day (8736c) being at the rising 21-EMA. Thus far, intraday, we have seen the price rising to a high of 9252c. The automated reading is timestamped below, as at yesterday's close, followed by the current chart. At the end of each day, I am extracting the Tactical Trading Guide, making it available to clients. To access, it visit the following link: https://www.unum.capital/post/tactical-trading-guide . To trade, gain frequent access to high quality insights or open a new account, get in touch today: lester@unum.co.za Thursday 26-October-2023, 11h14 JSE Top 40 Index. Regime Snapshot Thursday 26-October-2023, 10h51 Investec Ltd (INL). Bank/Take Profit on Short/Sell (Approaching target, only a few points away from it). Thursday 26-October-2023, 10h24 Global Sentiment Index. Continues to trend lower. Thursday 26-October-2023, 10h20 Exxaro Resources (EXX) & Thungela Resources (TGA). Both EXX and TGA have retreated from the previous highlighted overhead resistance zones of R192-R194 and R186 to R190, respectively. Both shares remain above their rising 50-day EMAs on both an absolute and relative basis and at current levels, the trade at the lower boundary of their 50-day 2 std deviation linear regression channels. Thursday 26-October-2023, 06h30 Anglo American Plc (AGL, 47872c) Standard Deviation Screen. On Monday I discussed AGL with the comment being around the potential for a reclaim of the pivot (set as the prior session low) to support a bullish reversal trade. We saw the share trade lower intraday however close off the lows of the day. On Tuesday, we saw upside follow-through and on Wednesday, a consolidation within the prior day range. The new pivot for upside continuation is 48450c. The share screens as offering value on a short term standard deviation basis, with the rebound currently taking place off the lower boundary of the 50-day linear regression channel. Thursday 26-October-2023, 06h30 JSE Banks (Equally-Weighted) Relative To JSE Top 40 Index. Pending Relative Underperformance? The following factors may support my technical inquiry: Distance Divergence: The price is printing a higher high while the distance vs the 75-day EMA has developed a lower high. Risks losing incline support Thursday 26-October-2023, 06h30 JSE Short Term Technical Ratings, as at yesterday's close. Wednesday 25-October-2023, 10h20 Nedbank Group (NED, 19730c). Monthly Chart. The R200 level is one which I have highlighted in recent months as one to monitor for downside risk. This is a range that been supported by buyers for 19 months and is currently being breached. While this is well-known to market participants who keep a close eye on the share, the following additional points could provide further insight: (1) The 14-month RSI has shifted to below the 50 level. During previous cycles, crossed below the 50 level has been a negative technical development. At current levels, the 14-month RSI is at 47 (how will it close for the month? Let's monitor it.) (2) The MACD has developed a bearish cross with both the MACD 'Line' and 'Signal' gradually starting to turn lower. In the short term, oversold conditions may develop, opening up opportunities to buy for tactical rallies, however, market participants should keep the long term structure (monthly chart) in mind. Wednesday 25-October-2023, 09h44 JSE Sector: Short Term Trend Ratings Wednesday 25-October-2023, 08h39 Sappi (SAP, 4187c) Standard Deviation Screen. Notes on the chart. Update: Sappi is lower by 9.5% since my note on 17 October, highlighting the potential for a pullback at resistance. The original chart is shown below. Wednesday 25-October-2023, 06h30 Bid Corp (BID, 40966c). The share has traded in a well-defined range, with support (buying interest) at R400 and resistance (selling interest) at R435. It is unknown whether the share will hold the R400 level, however, the following is observed: (1) the share has shifted below it's 50-day exponential moving average. The 50-day EMA has also started to turn lower (2) The 3-Day MACD is above the centre line however has a negative alignment (MACD in blue is below the Signal line in orange). Also noted on the MACD is the MACD line looking to cross below the centre line for the first time this year. The last interaction with the centre line was a bullish crossover in late November 2022. One scenario is that the share could rally into the declining 50-day EMA which could act as a resistance zone/selling area. A breach and close below the R400 level could open R386 and R373. Wednesday 25-October-2023, 06h30 JSE Sector Ratings Relative To The JSE Top 40 Index, as at Friday's close. Wednesday 25-October-2023, 06h30 JSE Short Term Technical Ratings, as at yesterday's close. Tuesday 24-October-2023, 12h38 Bidvest Group (BVT). Key Points: (1) Bear flag breakdown (2) short term support of 26300c breached (3) horizontal supply zone of 27200c has been a feature, with the price being rejected off this zone on 3 occasions (4) breach of the 50-day EMA, which is gradually starting to turn lower. The idea would be to sell rallies into R263-265. Tuesday 24-October-2023, 09h50 JSE Top 40 Index. Flash Comment: (1) During yesterdays session, the index traded close to it's 61.8% Fibonacci retracement area where it found minor support to close off the lows of the day. More broadly (over the medium term), the index remains below the previous support zone and is trading within a downward trending channel. Yesterday's 7-day RSI was 23, a rare index print, suggesting high bearish momentum/approaching oversold and the potential for a relief rebound before potential continuing it's downward trend. As of this morning at 09:50, the 7day RSI has turned up to 28 (subject to change as the price action develops). Tuesday 24-October-2023, 09h22 FX: USD/JPY. 5 Technical Points To Note For Short term Traders: Developing a rising wedge (bearish) technical formation (2) trading and showing minor weakness at prior swing (3) Has developed a distance divergence where the price had printed a higher high while the distance vs the 50/100-EMA spread has printed a lower high. (4) The RSI is at 55 (a bullish regime) however it is also showing signs of weakening momentum. (5) Poor candle structure yesterday and even more so thus far today. One of the risks for shorts/sellers is potential intervention by the Bank of Japan (BOJ) which could lead to an increase in volatility. Tuesday 24-October-2023, 09h06 Wheat Futures. The commodity is trading at the lower boundary of a larger, medium term channel while looking to break out of a short term channel. The swing buy/long trigger level is above 600. The Teucrium Wheat ETF (WEAT) can also be used as a trading vehicle. Tuesday 24-October-2023, 06h30 Tiger Brands and Textainer Group. Automated tools and strategies are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. By clicking here, you will be directed to the Tactical Trading Guide (Price Action Tool) which provides automated analysis for over 70 shares across 3 time frames. This tool is also available via the telegram group. The tool provides automated price analysis of all JSE-listed equities 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. Tiger Brands (TBS). At the end of day of 04 October, the reading was as follows: "Reward-to-risk becoming attractive for a small buy/long position". The share developed a sharp reversal, with a move from the close of 14332c to a last Friday's swing high of 17639c. The alert (timestamped) and chart is below. Keen to capitalize on these trading opportunities? Get in touch today. Textainer Group (TXT). It also caught my attention that the automated data alerted to a buy, with the reading as follows at the end of day of 04 October: "Aggressive selling recently but long reward-to-risk may be attractive". The share traded lower over the next few session, with a sharp reversal during Monday's trading session as the group reported it's intention to delist following a takeover bid. The share closed higher by 41% on Monday, with a print of R935 vs the signal price of R688. The alert (timestamped) and chart is below. Keen to capitalize on these trading opportunities? Get in touch today. Tuesday 24-October-2023, 06h30 JSE Short Term Technical Ratings, as at yesterday's close. Tuesday 24-October-2023, 06h30 German DAX Index. The downside target of 14660 was reached during yesterday's trading. Now lower by 1000 points. Monday 23-October-2023, 06h30 Analyst Thoughts: Key Points To Note: On Friday, South African equities, by way of the JSE Top 40 Index closed at it's lowest level since August 2022, down by 3.52% year-to-date however +9.1% over one year. Over 3 months, the index is down by 10% while having shedding 11.8% over 6 months. Other global market also at multi-month lows, with the major drivers as follows (1) the tightening of monetary policy (higher bond yields + hawkish commentary from the US Federal Reserve (2) geopolitical tensions (3) concerns around the medium impact of higher interest rates on the global economy. On the JSE, Market Breadth remains poor, with most constituents in the mid and large cap space trading with in a WEAK short term regime followed by second largest category being HIGH BEARISH MOMENTUM/APPROACHING OVERSOLD. Sector With Continued To Show Relative Weakness: Diversified Miners; Platinum Miners Sector That Have Led, But Are Starting To Display Signs Of Slowing Upward Momentum: Coal Miners Sector That Are Overbought In The Short Term: Gold Miners Sector That Are Potentially Finding A Base/(Small Signs of Buying): Telecommunications; Luxury Goods (*) Monday 23-October-2023, 06h30 JSE Relative Sector Ratings, as at Friday's close. Monday 23-October-2023, 06h30 JSE Short Term Technical Ratings (Summary), as at Friday's close. Monday 23-October-2023, 06h30 US 10-Year Bond Yield (US10Y). Multiple Time Frame Trends and Ratings, as at Friday's close. Monday 23-October-2023, 06h30 S&P 500 (SPY ETF). Multiple Time Frame Trends and Ratings, as at Friday's close. Monday 23-October-2023, 06h30 US Relative Sector Ratings, as at Friday's close. EW = Equally Weighted. Monday 23-October-2023, 06h30 Kumba Iron Ore (KIO, 47715c). Strong Trend, But At Resistance. I shared my view of a buy/long opportunity at 39800c in early September. Last week, the share trade higher by R100 to test a high of 49800c, which is also the upper boundary of the resistance zone. Friday's price action was negative (-3.36%) - in line with the broader market which also traded lower. The 21/50-EMA is trending up which gives the share a slightly bullish bias. At current levels, considering the strong short term trend, the reward-to-risk is unappealing however, traders should be looking for some support on the 21/50-EMA, which may provide a re-entry. Monday 23-October-2023, 06h30 Absa Group (ABG) Monday 23-October-2023, 06h30 Global Copper Miners (COPX) breaking down (showing relative weakness) versus the All Country World Equity Index (ex-US). This chart is highly relevant in terms of our own mining shares on the JSE. Monday 23-October-2023, 06h30 Glencore Plc (GLN, c) is a chart that I have highlighted in recent months, showing ~R104,35 as being a risk level., while R110 has been a major supply zone. Poor candle structure has been a feature. Avoid for now. Monday 23-October-2023, 06h30 Anglo American Plc (AGL, 47591c). For ultra short term/active traders. AGL is one of several shares that have sold off in recent sessions and are approaching ultra short term oversold. Specifically, the share has declined from around R534 to a low of R472.12. Here, it is possible that we could see further (for e.g. 1-2 days) however traders should be alert to the potential for an ultra short term reversal. This could be signaled by the development of a candle formation such as a 'hammer', 'pin bar', 'doji' or 'piercing candle'. The current pivot will be the low of the last candle (i.e. R472.12) and if the price continues to trend down, then a new pivot will be determined. Monday 23-October-2023, 06h30 Sanlam (SLM, 6547c). The share reached my previous short/sell target, which was followed by a rebound. Currently at risk of breaching it's incline support. Monday 23-October-2023, 06h30 Standard Deviation Screen Standard Deviation is the statistical measure of market volatility, measuring how widely prices are dispersed from the average price. For short term, active traders, the 2 Standard Deviation, 50-Day Linear Regression Channel provides a systematic approach to managing risk and uncovering potential opportunities. By recognizing the position of the price relative to the trend channel, a trader is able to assess the reward-to-risk which can also help in determining the following, among others: Potential Entry Range Potential Exit Range Current Trend This along with the other factors such as support, resistance, moving averages, rating (overbought, oversold etc.) helps to reduce the inherent bias which may accompany a trader. Each chart is present with a 2 Standard Deviation, 50-Day Linear Regression Trend Channel which appears as follows and which may be trending upward, downward or sideways: Monday 23-October-2023, 06h30 Standard Deviation Screen: Truworths (TRU). Sunday 22-October-2023, 22h00 (Pre-Market Asia) Standard Deviation Screen: Gold Friday 20-October-2023, 06h30 JSE Relative Sector Ratings, as at yesterday's close. Friday 20-October-2023, 06h30 JSE Technical Ratings (Summary), as at yesterday's close. Friday 20-October-2023, 06h30 JSE Top 40 Index (J200. Last Close: 65319). For bulls, reclaiming 67081 would support a bullish reversal. For now, the bias is lower as the index trades below a declining 50/100-day EMA cloud and within a downward trending channel. Friday 20-October-2023, 06h30 Richemont (CFR, 224815c). Trading at a key level + Early Signs Of Stabilization And Potential Recovery? My view is that diagonal trend lines are LESS reliable that horizontal trend lines, however, here is a view to consider. The share is trading at the lower boundary of a multi-year channel which extends back to the lows of March 2020 and may be showing signs of strength with positive candle structure during yesterday and today's session. Also noted is the minor divergence on the 14-day RSI, which may suggest that downside momentum is slowing. Referring to my comment on 02 October 2023: "Richemont Relative To Top 40 Index. Upper Panel= CFR vs Top 40 Index. Lower Panel = 63-Day (Quarterly) Drawdown. The current drawdown is one of the largest we have seen over the past decade." Friday 20-October-2023, 06h30 BHG Group (BHG, 53602c). Consolidating below it's 200-day SMA / Lower highs / Risk of breach of incline support. Friday 20-October-2023, 06h30 Aspen Pharmacare (APN, 16614c). Updated Technical View. The share has returned toward the middle of a 1-year gradually upward trending channel. Short Term Trend = Weak. Also Noted: (1) The incline support extending back to the swing lows of 29 December has been breached. (2) The 200-day moving average is being breached. Target = below R155 if incline is breached with conviction. Friday 20-October-2023, 06h30 Sasol Ltd (SOL, 25564c). I believe that making use of Standard Deviation/Linear Regression channels can add value to an active trader. To refresh, Standard Deviation is the statistical measure of market volatility, measuring how widely prices are dispersed from the average price. Most recently, SOL trading at the lower boundary of the 21-day and 50-day channels. At the time, this was highlighted as follows: We have since seen Sasol rally, hitting an ultra short term overbought level which was in line with the multi-month supply zone (red shaded area). Friday 20-October-2023, 06h30 Spar Group (SPP, 10799c). Update. The share has unwound into the target zone of R106 to R109 (low of 10694c during yesterday's session). Friday 20-October-2023, 06h30 Reinet Investments (RNI, 38595c). Lowest Level Since April + Head & Shoulder Technical Formation. The share exceeded my previous short/sell target of R398 (reaching a low of R386) which was followed by a rebound and subsequently, another decline which saw the price trade at it's lowest level since April. In the short term, a rebound is possible, however a new primary bearish trend may be developing following the medium to long term overbought conditions which was seen earlier in this year. Head and Shoulder Measured target = R340. Friday 20-October-2023, 06h30 Consumer Staples Relative To The Top 40 Index. The high bearish momentum has continued + has shifted to below it's 200-day SMA. On 30 August I discussed the sector being potentially vulnerable to some relative underperformance vs the broader market. It has since UNDERPERFORMED by close to 15%! The above chart is a follow-up of the original view, below: Friday 20-October-2023, 06h30 Consumer Discretionary Relative To The Top 40 Index. Lower highs = Descending triangle. Bias = Bearish. Friday 20-October-2023, 06h30 Mondi Plc (MNP, 28998c). Previous I published a note on MNP at R312, with a target of R338. We saw the share trade as high R331.34 where it entered an overbought position. Subsequently, the share started to unwind, and on the back of it's market update, the share continued to sell off, trading as low as 28525c during yesterday's session. Whilst it is weak, traders want to keep the name on the radar for a tactical buying opportunity. I am monitoring. Friday 20-October-2023, 06h30 Sappi Ltd (SAP, 4298c). On the back of Mondi being sold off, Sappi retraced sharply, in line with my view on Tuesday morning (17-October). Friday 20-October-2023, 06h30 DAX Index (15045). The negative crossover over the 3-day MACD as well as the development of the multi-month top formation were the key reasons behind the view that the index is shifting to a bearish trend. We have since seen the price attempt a reclaim of the breakdown level, followed by a rejection of the level. Supporting the downside view is the price being rejection at, and trading below a declining 50-day moving average. Thursday 19-October-2023, 06h30 Home Depot (HD, $290.24). Consolidating below a declining 200-day SMA + potential break of structure. Bias = Bearish/Sell. Targets = $266 and $250. Thursday 19-October-2023, 06h30 Occidental Petroleum Corp (OXY, $66.25). Multi-month base. A break and close above $68 opens up $76 as a target. Thursday 19-October-2023, 06h30 Barloworld (BAW, c). The share has been trading in a relative narrow consolidation range where resistance is ~R93 and a support is R81. Lower highs have been a feature of the price structure with the price having rebounded off the aforementioned R81 support zone. It should be noted that the share is trading below a declining 200-day SMA while a breach of the R80 support level opens medium term downside toward R71 and R65. Thursday 19-October-2023, 06h30 Truworths (TRU, c). Update. Full target exceeded on the short/sell trade idea from 7647c (target 7011c). Yesterday's low = 6832c. Bank/Take Profit. Chart as at yesterday's close. Thursday 19-October-2023, 06h30 Pick n Pay (PIK, 2597c). Full technical target reached. In May I discussed two downside targets on the share: 3490c and 2517c. Yesterday, the final downside target was reached, with with the share reaching a low of 2517c on the back of it's interim results. Pick n Pay (PIK, 2597c). Continued Commentary: In July of 2022 I published a SHORT/SELL at 5701c. We saw the share trade slightly higher over the next few months however the price has declined significantly (-55%) over the 15 months. To trade or open a new account, contact me via e-mail: lester@unum.co.za Thursday 19-October-2023, 06h30 JSE Technical Summary as at yesterday's close. Thursday 19-October-2023, 06h30 Relative Sector Ratings as at yesterday's close. Tuesday 17-October-2023, 08h18 Bid Corp (BID, 41617c). How long will the share be able to continue holding around and rebound off it's 50-day EMA? Bearish candle structure + testing support with a bearish candle structure (bearish engulfing candle). The current key resistance level = ~43500c. Tuesday 17-October-2023, 07h53 Sappi (SAP, 4627c). Over a 2-day period, the share has shifted one level lower, from high bullish momentum to strong. This possibly reflects a slowdown in upward momentum. Also over a 3-day period, sellers have controlled the range between 4685c and 4937c. It's possible that the share develops a minor pullback, potentially into the rising 8 and 21-EMA range before continuing it's trend higher. Tuesday 17-October-2023, 06h30 Regimes of Major Sectors Relative To The JSE Top 40 Index. Line Up (Toward Red Zone) = Strengthening + Approaching Eventual Sell. Line Down (Toward Blue Zone) = Weakening + Approaching Eventual Buy. Tuesday 17-October-2023, 06h30 Standard Deviation Screen Standard Deviation is the statistical measure of market volatility, measuring how widely prices are dispersed from the average price. For short term, active traders, the 2 Standard Deviation, 50-Day Linear Regression Channel provides a systematic approach to managing risk and uncovering potential opportunities. By recognizing the position of the price relative to the trend channel, a trader is able to assess the reward-to-risk which can also help in determining the following, among others: Potential Entry Range Potential Exit Range Current Trend This along with the other factors such as support, resistance, moving averages, rating (overbought, oversold etc.) helps to reduce the inherent bias which may accompany a trader. Each chart is present with a 2 Standard Deviation, 50-Day Linear Regression Trend Channel which appears as follows and which may be trending upward, downward or sideways: Tuesday 17-October-2023, 06h30 Standard Deviation Screen: High Bearish Momentum/Approaching Oversold - Discovery Holdings (DSY). In addition, at multi-month support + trading into a flat 200-WEEK SMA. The daily chart is shown below. Tuesday 17-October-2023, 06h30 Standard Deviation Screen: High Bullish Momentum/Approaching Overbought - Exxaro Resources (EXX) Tuesday 17-October-2023, 06h30 Standard Deviation Screen: Overbought (Trading at the upper boundary of it's 50-day linear regression channel) - Gold Fields (GFI) Tuesday 17-October-2023, 06h30 Standard Deviation Screen: Overbought (Trading at the upper boundary of it's 50-day linear regression channel) - Harmony Gold (HAR) Tuesday 17-October-2023, 06h30 JSE Technical summary, as at yesterday's close. Monday 16-October-2023, 12h55 FX Majors: Tactical Trading Guide Monday 16-October-2023, 06h30 JSE Relative Sector Ratings, as of Friday's close. Monday 16-October-2023, 06h30 British American Tobacco (BTI, 61489c). Unum Capital clients were alerted to a buy/long trade at a R607, with a target of R650. On the telegram group, at 64295c, traders were advised to bank/take profit. We have since seen the share pull back sharply on heavy volume, with negative fundamental developments driving recent activity. Reviewing the long term chart, the trend line extending back to the 2009 low as well as the 200-week SMA has been breached. Monday 16-October-2023, 06h30 Spar Group (SPP, 11529c). An update to my recent comment when the share traded in a short term overbought range and at resistance. As at Friday's close, the share developed a candle formation known as a bearish engulfing where the price opens higher than the previous session but closes below the previous session's low. I am looking for a potential move back toward the R105-R109 range after which we could see another potential attempt to break out of the medium term downward trend. Monday 16-October-2023, 06h30 Motus Holdings (MTH, 9116c). We use charts as a tool to identify opportunities and identify/manage risk. The long term structure of MTH points to potential downside risk, with the following being noted: (1) the price struggling to reclaim the 9700c to 10000c range which has been a long term demand/supply zone (2) the potential development of a bear flag formation which is similar to the one seen in February 2020. Monday 16-October-2023, 06h30 Renergen (REN). A technical approach can help traders see the signals and protect capital. REN is down 75% since my SELL idea 15 months ago (12 July 2022). Below is the original idea via our CMS followed by the updated chart, as of Friday's close. Not a client of Unum Capital as yet? Get in touch today. lester@unum.co.za Monday 16-October-2023, 06h30 Thungela Resources (TGA, 18048c). Strong, with high bullish momentum however, there might be short term risk as the share trades into it's declining 200-day simple moving average. The share traded at a high of 18385c on Friday. My previous last buy idea was at 13445c, representing a 36% gain since publication. Monday 16-October-2023, 06h30 Exxaro Resources (EXX, 18801c). The share is nearing the unfilled gap at 18962c and while the price reflects a high bullish momentum, the reward-to-risk for short term traders is LESS appealing when compare to the lows of 14500c, the level at which a buy/long was recommended in early August. Major medium resistance around the 19200c/19500c level. Monday 16-October-2023, 06h30 JSE Technical summary, as at Friday's close. Friday 13-October-2023, 06h30 JSE Technical summary, as at yesterday's close. Thursday 12-October-2023, 08h44 Strategy Screen: Attempting A Bullish Reversal Following A Consolidation Phase (Time Frame: SHORT TERM, YELLOW COLUMN). Thursday 12-October-2023, 08h41 FLASH COMMENT. The Foschini Group (TFG, 9899c). Potential failed head and shoulder formation on the cards? This can be bullish. Also note: a channel break. Thursday 12-October-2023, 08h16 Clicks Group (CLS, 25958c). Referencing the Strategy Screen above, which states that the "share is attempting a bullish reversal following a consolidation phase", the share has held close to it's range highs, following a bullish engulfing candle being printed on Tuesday. The pivot is around 26120c, meaning that overcoming this range would open up the potential for a move to around the 27200c zone. In terms of event risk, earnings are due to be reported on or around 26 October there smaller positions apply. Thursday 12-October-2023, 08h16 Sibanye Stillwater (SSW). On Tuesday, the share traded only a few cents aways form the short term target followed by a minor pullback on Wednesday. The updated readings from the Tactical Trading Guide is shown on the slide below. Thursday 12-October-2023, 06h30 Woolworths (WHL). Update. Strong upside follow-through during yesterday's trading session (+4.1%) with the potential price path being followed. This is in part being driven by an institutional upgrade as the share was raised to HOLD at SBG securities with a price target of R72. Thursday 12-October-2023, 06h30 JSE Technical summary, as at yesterday's close. Thursday 12-October-2023, 06h30 JSE Standard Deviation Chartbook. Click On The Image Below To Access The Chartbook. Wednesday 11-October-2023, 06h30 Upside Reversal From Short Term Base Formations. Last week Tuesday pre-market (03-Oct) I published the strategy screen which highlighted several large cap constituents where the reading stated: "Reward-to-risk becoming attractive for a small buy/long position". These were: "FSR. MTN, N91, NED, NRP, NY1, VOD". Of those highlighted the telecommuncation shares (MTN, VOD) were laggards as the fundamental/geopolitical risks weighed on sentiment. Oversold SA-focused shares subsequently saw their shares develop a short term base, with rallies seen during yesterday's Nedbank (NED) was boosted by an upgrade by Investec to BUY, with a target price of R211. The data, as presented to clients last week: Over the course of the week, the reversal has benefitted clients who took the opportunity to trade. Wednesday 11-October-2023, 06h30 We have seen a fairly broad-based rally in the ultra short term. A common question might be: "Is it too late to buy?" "My answer to those questions will always begin with the following comment: "It depends on your time horizon". If you are not concerned about shares pulling back slightly over the next few sessions, or consolidation in sideways range, then long positions can be considered. I would however make considerations on a case-by-case basis. Where To From Here? Let's consider the data points/charts below (non-comprehensive). Wednesday 11-October-2023, 06h30 JSE Sector Ratings Relative To The JSE Top 40 Index Wednesday 11-October-2023, 06h30 Strategy Screen. After a downward trend, buyers have started to show interest in these names (MEDIUM TERM, YELLOW COLUMN). Wednesday 11-October-2023, 06h30 Firstrand Ltd (FSR, c). Update. Huge green candle yesterday. The provisional price path is starting coming to fruition. Wednesday 11-October-2023, 06h30 Strategy Screen. These shares have advanced strongly over the medium term however if they fail to hold their prior session or range highs, it may signal early weakness and a potential tactical short (sell) opportunity. The tickers are as follows: CPI, SAP, TGA. (MEDIUM TERM, YELLOW COLUMN). Capitec Bank (CPI) It should be noted that Capitec has been a buy idea since R1320, as highlighted on 19 May. Yesterday it reached it's highest level since February, trading at R1856, a 40% gain over the (nearly) 5 months. The original chart is published below. Sappi Ltd (SAP) Thungela Resources (TGA) Wednesday 11-October-2023, 06h30 JSE Gold Miners. In the short term, the rally has been sharp. The SHORT TERM readings from the Tactical Trading Guide for Goldfields (GFI) and Harmony Gold (HAR) states the following: "General Trend Up However, Look For Failure To Hold Prior Session/Range Highs To Initiate 1-2 Day Short Setup". GFI and HAR: Ultra short term resistance levels to consider. For further context, these are the JSE Gold Miners on an equally weighted basis, highlighting the ratings on multiple time frame. Note the 4H time frame (top left corner) highlighting the ultra short term overbought conditions. Wednesday 11-October-2023, 06h30 JSE Technical summary, as at yesterday's close. Tuesday 10-October-2023, 08h10 Strategy & Approach. My overall goal is to convey 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. At times, the short term, day-to-day price movements can be tricky navigate however, in order to help you as a client to generate cash flow around these gyrations, I am paying close attention to asset prices and technical concepts such as candle structure and multiple time frame ratings. Clients of Unum Capital who have followed an active trading approached have been well-positioned for the increased levels of volatility. While I won't be able to spot or discuss every potential move, I will do my best to provide insight to as many opportunities as possible. Where I cannot cover it manually, I will use automation to communicate key information. Appropriate positioning (both long and short) in Anglo American Plc, Impala Platinum, Sibanye Stillwater, Gold Mining shares, Truworths and Pepkor among others, has contributed to performance. Depending on your time horizon MTN has both boosted and detracted from performance. On Monday, macro and geopolitical drivers supported flows into commodities and commodity related shares, with the adjacent sectors losing their bids due to the aforementioned. Spar is attempting to clear it's downward trend but is encountering short term at resistance. Bidvest has been struggling to clear 27650c while having printed a bearish candle that may be worth noting. Tuesday 10-October-2023, 08h09 MTN Group. In recent months, I have discussed and highlighted opportunities on both the buy (long) and sell (short) side, alerting cients to opportunities to make money as the price rises and falls. In recent weeks, the share has become oversold (expectation of a potential rebound) while at the same time I have highlighted the weekly chart which pointed to further downside for those with a higher time frame. In the short term, existing fundamental risks have come to the fore, with the group's exposure to Iran possibly weighing on the share price. On Monday 11 September, the weekly chart below (at ~12200c) was presented with the following comment: "Consolidation With A Potential Resolution To The Downside Over The Medium Term.". Tuesday 10-October-2023, 08h07 MTN Group. In the short term, my expectation has been for a rebound, however the existing fundamental risks (Iran exposure) would negate this view. Additional notes on the chart. Tuesday 10-October-2023, 07h46 Bidvest Group (BVT, 26964c). Zooming out to a higher time frame. Bidvest has been struggling to clear 27650c while having printed a bearish candle that may be worth noting. A breach of the incline support extending back to the lows of 31 May could be a catalyst for a downside move within the larger channel that has been in place since December 2021. Tuesday 10-October-2023, 06h30 Spar Group (SPP, 11525c). Has been trading in the 'high bullish momentum/approaching overbought range' + resistance in line with declining trend line. Struggling at 11790 to 11880c, could see a return to the 10600c-10900c range. Tuesday 10-October-2023, 06h30 Truworths (TRU). Update. Traded at a 3-week low yesterday, approaching short/sell target. In the money by 7% at the lows of the day. Tuesday 10-October-2023, 06h30 Impala Platinum (IMP). Update. Strong upside follow-through following reclaim of prior session low. Tuesday 10-October-2023, 06h30 Sibanye Stillwater (SSW, 2738c). Update. Discussed on this page last week Thursday pre-market (along with AGL) where the inverse hammer formation was a key data point in the potential bull setup. The share traded slightly lower, in line with expectations, followed by a sharp reversal (+7.5% on the day). As always, as the share approaches the target, it is prudent to bank/take profits (if you are a short term trader). Tuesday 10-October-2023, 06h30 JSE Technical summary, as at yesterday's close. Sunday 08-October-2023, Pre-Market Asian Session Analyst Thoughts: Global Market Perspective As noted above, market breadth remains weak. Consider the chart below which highlights the NYSE composite, with the following panels: New Highs New Lows, 5-Day Highs, 5-Day Lows. Monday 09-October-2023, 06h30 Most Extended Above Their 200-Week Simple Moving Averages (May Signal An Overbought/Expensive Technical Condition) Monday 09-October-2023, 06h30 Most Extended Below Their 200-Week Simple Moving Averages (May Signal An Oversold/Cheap Technical Condition) Monday 09-October-2023, 06h30 JSE Top 40 Index. The index has breached the incline extending back to the March 2020 lows. While we place greater emphasis on horizontal trend lines, the breach of this incline may be worth noting. Also shown in the two lower panels are the price distance vs the 200-day SMA and price distance vs 75-EMA. Monday 09-October-2023, 06h30 Impala Platinum (IMP, 8313c). If a share reclaims a prior session/range low following a sell-off, it may signal interest from buyers. Friday's pre-market Tactical Trading Guide for the SHORT TERM stated the following: "Aggressive selling but the buy/long reward-to-risk may be attractive". By Friday's close, we saw the share reclaim it's prior session lows, then develop a long lower tail to close the session higher by 3.35%. At worst, we could see a further pullback however the candle structure is positive enough for me to think that it could develop a short term base around this level following the previous 5-session decline. Monday 09-October-2023, 06h30 Firstrand Ltd (FSR, 6306c). The share has stopped going down and is developing a base around my provisional entry zone. Monday 09-October-2023, 06h30 Sasol Ltd (SOL, 23807c). The share has sold off from 26300c, where it traded in a short term overbought range. On Thursday and Friday two 'doji' candles were printed with Friday being slightly lower than Thurday's close. "Doji' candle formations following a multi-day downward trend can often signall indecision between buyers and sellers and that the share is possibly nearing a bullish reversal. Plotting the share versus both the 21-day and 50-day standard deviation, it can be seen that the price is nearing the lower boundary of the both channels. Monday 09-October-2023, 06h30 Shoprite, Breaking Down Relative To The Broader Market (JSE Top 40 Index as a proxy). The upward trend extending back to the low of 22 May is being breached. Monday 09-October-2023, 06h30 JSE Standard Deviation Chartbook. Click On The Image Below To Access The Chartbook. Monday 09-October-2023, 06h30 JSE Sector Ratings Relative To The JSE Top 40 Index, as at Friday's close. Monday 09-October-2023, 06h30 JSE Technical Summary: Short Term, as at Friday's close. Friday 06-October-2023, 06h30 JSE Technical Summary: Short Term, as at yesterday's close. Thursday 05-October-2023, 06h30 Strategy Screen: AGL, SSW SSW AGL