Loyiso_BlaqueSoros_Mpeta

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Truworths has met resistance in the 8441 to 8529cps zone. Though premature to call this a Double Top, how price action reacts around the 6697cps neckline will hold the key for the short-term outlook. I am neutral for now.

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Gold and JSE Gold gold stock have been on a strong run lately. DRD clearly did not get the memo as the stock is trending up but very slowly comapared to its peers and with the tailwinds provided by the gold price. When such a disconnect occurs, one needs to take a deep look into the fundamentals which is beyond the scope of...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. FirstRand has found the 7700-8000cps zone hard to push through. The two sell-offs at this zone give what can be viewed as a Double Top. Price has recently been consolidating in a contracting triangle which now looks to be breaking down. The trend looks bearish and my initial target is 5000cps.

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. A look at the bigger picture of ABSA shows that the stock has a very strong resistance zone between 20371 to 21100cps. The stock has tested this zone on three occasions giving what can be viewed as a Triple Top over 7 years. Interestingly, the bull market from March 2020 has culminated in a textbook Head & Shoulders pattern...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis Purple Group released its interim group results for the six months ended 29 February 2024 yesterday and the market loved it. Highlights: -Group revenue increased by 29.3% to R188.8 million -Group operating expenses decreased by 0.4% to R141.8 -Profit attributable to ordinary shareholders of R10.9 million, compared to a loss...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. City Lodge has not taken off as I anticipated. The stock has continued to consolidate sideways without a clear pattern though we have two areas of support and a resistance zone. I have no view at this stage and I will sit on my hands on this one.

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis Barlo stock has caught a strong bid at 5883 and the rally looks strong. This give me confidence that wave C is probably complete at 5883. Not one to chase momentum, though the stock can continue higher with little pullbacks, i would like to see consolidation or a three wave pullback that holds above 5883 to join the...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Sibanye's stock made a strong pullback since the previous analysis and challenged the key 1756 invalidation level. Most importantly, price managed to just hold above 1756 therefore keeping the bullish outlook valid. The re-test of 1756 has also created a double bottom reversal pattern which adds to my bullish...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. MTN released its FY'23 results on the 25th of March and it was a mixed bag of results. Salient features: Group service revenue grew by 6.9% (13.5%*) to R210.1bn (2022: R196.5bn) EBITDA (before once-off items) down by 0.5% (9.8%*) to R90.5bn (2022: R90.8bn) EBITDA margin lower by 3.0 percentage points (pp) to 40.9% (1.2 pp*...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. The best way to describe the ascent from the May 2020 low is creepy-crawling. SBK stock has been steady with price well supported by the mid-sloping trendline. As price has continued making higher highs, the MACD has made lower highs giving a bearish divergence signal. This does not imply a bearish reversal but that a...

Loyiso_BlaqueSoros_Mpeta

Naspers has found the going tough since the January 2023 peak, trading sideways in a wide range. The consolidation has not been a textbook rectangle with supporting shifting zones but the resistance has been stern around 355300 cps. The stock caught a big at 267330 and is again approaching the resistance for a third attempt to break above it. I am neutral at...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Discovery has traced out the three wave decline I forecasted after the five wave advance from 10073 to 16042. The decline is labelled as a zigzag with a triangle wave and wave is now near the support trendline of the falling channel. There is no evidence of a reversal yet. For this bullish, bigger picture ABC outlook to...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Jubilee has continued to trade lower and having breached 128, i am tentatively abandoning the five wave count as wave (4) has penetrated the price territory of wave (1) violating one of the golden rules of an impulse. The bear market from 426 is forming a falling wedge which is bullish but price can still go lower. I will...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Sasol has continued its strong selloff, going well below the support zone of my previous analysis. Price action is giving better Elliott Wave context. I am looking at the bear market from 43860 as a zigzag with the bounce from 13226 for wave (iv) of . The zigzag is well contained in a falling channel and a clear break out...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. The previous analysis was quickly invalidated; this is why we use stop-losses! The stock has been trending downwards for over three years now and looks likely to set a new all time low below 128. A break above the upper resistance trendline would give an early signal for a potential reversal but there is no sign of...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Montauk recently released it FY'23 annual results and they were not pretty. The renewable-energy company posted fiscal 2023 earnings of $14.9 million, or 11 cents a share, down from $35.2 million, or 25 cents a share, in the same quarter last year. Analysts polled by FactSet were looking for earnings of $20 million, or 15...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Vodacom continued its sell-off and has reached the price target of 9070, the March 2020 low. There is no evidence yet of any reversal so i will sit on my hands. I will monitor price action at this level for a potential double bottom reversal.

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Kumba failed to rally on after the breakout and has sold-off aggressively invalidating the bullish outlook. I will sit on my hands on monitor price action at the support trendline.