Loyiso_BlaqueSoros_Mpeta

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. I have updated my preferred wave count and it has significant implications. The new count shows the decline from 33519 to 11079 as a complete zig zag pattern. Wave (A) is a impulse with distinguishable five waves. Wave (C) is also an impulse though more simple in structure. I am looking at the advance from 11079 to 22166...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. The triangle outlook has been invalidated but prices has continued upwards as forecasted but with much reduced momentum compared to wave . The support trendline is firmly intact but price action has been very choppy from 5370. It is likely that the stock is forming an ending diagonal for wave . I am always cautious when a...

Loyiso_BlaqueSoros_Mpeta

First Rand has been consolidating since making a new all time high in March 2022. The consolidation pattern seems to be unfolding as a contracting triangle. Triangles are tricky as they can breakout on either side or evolve into a more complex pattern. I will remain neutral and wait for price action to lead the way.

Loyiso_BlaqueSoros_Mpeta

See link below for previous update. Nothing much has changed, price still contained in what looks like a contracting triangle. I remain neutral as to the direction of the breakout so I will sit on my hands for now.

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Omnia stock has held up steady after breaking out of the falling wedge. The MACD has a double convergence signal which is bullish and the MACD has held up above the zero line much longer than the previous two instances when it was above zero. 5186 is the invalidation level and buy the dips is the strategy above 5186

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. I am updating wave 5 to an ending diagonal aka rising wedge. Price can still make new highs but MACD/price divergence is a clear sign that upward momentum is waning. I am still bullish to neutral as I am forecasting two more waves to complete the ending diagonal.

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis The stock has made a minor breakout from the upper resistance trendline and is currently using it as support. I am not convinced by this breakout due to: 1-Low volume breakout 2-Weak price momentum after breakout It's still early days but I will sit on my hands under I get more bullish evidence.

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. After prolonged sideways movement, price broke below 9230 invalidating the triangle outlook. This has prompted me to label the advance from 7920 to 12433 as wave (5). A look at the bigger picture fits an impulse as the five wave advance from 2254 to 12433 for wave . I am looking at the current pullback as wave and...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. MTN stock had a strong rally from 8700 to 11800 and as per the previous analysis, it turned out to be a dead cat bounce as price has broken below 8700. I have changed the triangle wave count slightly {previously have wave E of (B) terminating at 14289} which gives a new perspective for the decline from 14299. The decline...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. *Prices updated to post-share split adjusted prices. Price traded much lower and invalidated the triangle outlook. The overall wave count for Prosus and Naspers is still tricky but I am still counting the advance as a zig zag. I will maintain a bullish stance above 48240 and buy the dips.

Loyiso_BlaqueSoros_Mpeta

See link below for previous update. After a 19 month sideways consolidation, which I had labelled as a wave 4 triangle, the bulls came out of nowhere and took price beyond the 33900 zone, which was key resistance, to around 37000 cps. This swift move from October invalidated the entire five wave impulse outlook from the all time high at 43005. The technical...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Barloworld released a voluntary trading update for the first four months of FY'24 yesterday. Salient points: -5% reduction in group revenue due to reduced sales volumes in some businesses, following a slowdown in the mining sector, continued geopolitical conflicts and reduction in consumer demand in its consumer industries...

Loyiso_BlaqueSoros_Mpeta

See link for previous analysis. Afrimat used to be a one-way steam train but the stock has lost its momentum since peaking at an all time high in April of 2022. A 43% bear market saw the stock decline from 7647 to 4366 cps. What we have seen from the 4366 low is a sequence of higher highs and higher lows with strong overlaps in the price swings. From an Elliott...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis On Tuesday, Cashbuild released a Trading statement ahead of the interim results for the 26 weeks ended 24 December 2023. Headline earnings per share (HEPS) are expected to decrease between 15% and 25%. The DIY sector in SA continues to struggle and there is little to signal a change in the fundamental outlook. Technically,...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. The bears re-emerged and took price below 6430. My conviction was not great that this would be thee bottom. This is the beauty with the EWP, you know when you are wrong. An update of the wave count shows the decline from 10129 to 6430 as an ending diagonal for wave of wave 3 and the bounce as wave 4. The entire decline...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Dischem has had a stellar run from the 2154 low, tracing out a textbook five wave advance. Wave is a leading diagonal followed by wave which unfolded as a complex zig zag with a b-wave triangle; wave is a strong impulse and wave is a simple zig zag. Wave can unfold as an impulse or ending diagonal and looks likely to...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. ANH has traded as previously forecasted and looks set to continue its bull run. I am looking at the current advance as being part of an extending wave 3. Wave 2 was a zig zag pattern with a very small wave ((c)) which is typical of a market that wants to rally and the bulls quicky take initiative. I am seeing a similar...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. BATS released its FY'23 results and the market seems to like it. The main take-away for me is that the New Categories achieved profitability two years ahead of the target. That being said, margins are still very tight. The technical picture has not changed much as the stock is still trading downwards in a slight wedging...