Loyiso_BlaqueSoros_Mpeta

Loyiso_BlaqueSoros_Mpeta

See link below for the previous analysis of Sabvest. Well, Sabvest has continued to trade lower since the last analysis. Due to liquidity, the stock is not easy to analyze using Elliott Wave but a good filter for signals is using the 12/26 EMA on the daily chart. This combination of EMAs lags price but this helps in delaying entries based on price...

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Grindrod recently came out with a very good set of interim results reporting record export volumes at its Maputo port and growth in excess of 20% in revenue and headline earnings. A purely fundamental reasoning would suggest one should buy the stock now. A look at the Elliott Wave structure from the April 2020 low shows a need to be cautious. The rally from April...

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Taking a step back and looking at the bigger picture can provide a lot of clarity. Going as far back as June 2014, when Sasol made its all time high at 65299, the large wave structure from 65299 to 2077 is a zigzag. Wave (A) was an impulse followed by a protracted flat for wave (B) and another impulse for wave (C). What is interesting to note is that in wave...

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See link below for the last coverage of MTN. The stock has been moving sideways since October 2022 and over this period, I was tentative to the labelling of the consolidation. Recent price action has given me more perspective and it looks like the larger structure from 21149 is a zigzag with an impulse for wave (A), triangle for wave (B) and the current sell-off...

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The last analysis of Tiger Brands was on 31.05.2023, link below. The stock is trending as forecasted and looks to be in wave ((v)) of 3 or C. Wave ((v) can unfold as an impulse or ending diagonal. What is also critical for the larger structure is to see whether or not 13427 holds.

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After a strong bear market from 02.2018 to 03.2020 Avi has traded sideways. Price seems to catch a bid between 5939 to 6060 with three single weekly candle lows in that region. This has me pondering whether or not this price pattern is a triple bottom which is a strong reversal pattern. Only time will tell.

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A review of the big bear market that started in 2016 looks to be unfolding in a triple zigzag pattern. Wave (Z) should also unfold in three waves and could see price breaking below the lower channel support line. I am still bearish on the stock based on poor fundamentals and strong competition in the sector. I will sit on my hands as i am not interested in...

Loyiso_BlaqueSoros_Mpeta Updated 

The last update on Anglo Platinum was on 22.06.2023, link below. The stock has traded as forecasted and wave 5 of (C) could be complete at 79400. What is further encouraging is the MACD/price convergence between wave 3 and 5. It is still early days but above 79400 I will remain bullish until the market proves me wrong.

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The recent speculative buy outlook on Kumba has been short lived, link below. Price has broken below 40800 and now 33991 becomes the next level of interest. The three wave move from 80338 to 33991 is a large zigzag and can be all of the correction but it can also be wave (W) of a combination corrective pattern. I will sit on my hands on Kumba and watch price as...

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Sometimes it helps to take a step back and look at a clean chart for classic chart patterns. Looking at Anglo American, a Head & Shoulders pattern looks to be playing out and being confirmed by a break below the neckline. Sometimes these patterns fail and we do not see the continued downside associated with these patterns. If not already short, it's best to sit...

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Merafe stock had a strong from March 2020 to April 2022 rallying from 24 zac to 196 zac in a clear five wave pattern. From 196 to 104, the stock has seen its price drop 47% in what looks like a three wave bear market correction. The current bear structure is of a truncated zigzag were wave C does not make a new low relative to wave A. If this structure is...

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Omnia bulls could not sustain buying pressure and price has traded below 5434, invalidating the outlook shared on 27.06.2023, link below. The overall structure from 1250, the March 2020 low, still looks bullish and the correction from 8775 still looks like a falling wedge that is still making lower highs and lower lows. I will sit on my hands for now and monitor...

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Naspers has been trading sideways since the 27 Jan 2023 peak at 358266. The overall trend from March 2022 is still bullish so my bias is this is a consolidation pattern for upside continuation. A good buying level however is at the bottom of the pattern around 292306. Until price shows its true direction, ideally with a strong breakout on high volume, i will sit...

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The last time i covered Brait was in 25.10.2022 and the forecast was for wave 5 after the triangle consolidation in wave 4, link below. Wave 5 was short and swift and created a double top with the peak of wave 3. The share is down 43% from the 510 high and there are no signs of a reversal yet. The crucial level to watch is 230 as a break below it would reset...

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The last update showed the early development of a potential double bottom. The key level of 22136 has held firm and price has broken above the resistance trendline and price action looks impulsive. Buy the dips above 23367

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Gold Fields had a stellar run from September 2022 rallying from 12662 to a new all-time high of 32652 in May 2023. This advance unfolded as a five wave impulse with wave ((v)) being extended which is common in commodities and commodity stocks. As expected after a five wave rally, a correction has been price decline from 32652 to a recent low of 23746 for a 27%...

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The short outlook of the last update was quickly invalidated, link below. The count from 21149 to 11262 remains valid, what has become complex is the sideways consolidation from 24 October 2022. The advance from 11262 to 14942 is in three waves. The decline from 14942 to 10735 can be labelled as a three or five wave move, and this is the subjective element that...

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The bullish impulse outlook from 4840 is still intact. Price seems to be consolidating in wave ((iv)) of 3. 5610 is the current level of interest but the bullish count will need a re-assessment if price pulls back below 5355.