Loyiso_BlaqueSoros_Mpeta

Loyiso_BlaqueSoros_Mpeta

A quick update on the last analysis posted 30.06.2023, link below. Wave (C) is now in its 5th and final wave. As to how low can price can go is anyone's guess but my first target is 10000. I am not a fan of shorting fifth waves but in commodity stocks they can be very strong moves.

Loyiso_BlaqueSoros_Mpeta

AGL stock has had a strong sell-off from its 77318 peak in February. The sell-off to 51800 looks to have unfolded as an extended five wave impulse that is terminating in an ending diagonal. There is also MACD/price convergence between wave ((iii)) and ((v)) which tends to precede trend change. As much as it is still early to say whether or not 51800 is the...

Loyiso_BlaqueSoros_Mpeta

The last coverage of Anglo Gold Ashanti was on 05.07.2023, link below. The move down from 55688 was still in three waves but now it is clear that a five wave impulse for wave A is forming as part of a larger zigzag ABC correction. There are no reversal signs yet but it is a bit late to short so I will monitor price for reversal patterns and until then, I will...

Loyiso_BlaqueSoros_Mpeta

The last analysis on Truworths was on 14.06.2023 and indeed the bottom proved to be in at 4682, link below. Truworths has taken off like a rocket with very shallow corrections. The corrective pattern from August 2021 to May 2023 is a running flat characterized by: Wave B terminating beyond the origin of wave A. Wave C terminating above the terminal point of wave...

Loyiso_BlaqueSoros_Mpeta

Shoprite dipped after the last update, but only a little for wave ((ii)). Small, shallow pullbacks are a reflection of prevailing market sentiment and the market has been very bullish on Shoprite since 31 May 2023. The wave count shows the stock is in wave((iii)) and there is no sign of a pullback yet. Buy the dip for wave ((iv)) but be warned, it could be...

Loyiso_BlaqueSoros_Mpeta

The impulsive move from 656 to 915 is still valid. The consolidation between 769 and 915 could setup a breakout move above 915 as price action action looks corrective in this range. Aggressive stops can use 769 but the bullish outlook will be invalidated completely below 656.

Loyiso_BlaqueSoros_Mpeta

The stock is again proving its resilience. I was expecting and a fairly large correction after the five wave advance from 939 to 3759. Based on current price action, the correction looks complete at 3075. I have updated the wave count to show the full trading history. Buy the dips above 3075

Loyiso_BlaqueSoros_Mpeta

The five wave impulse move 4840 is well and truly intact. Wave((iv)) looks to have bottomed at 5610 and that should be the stop-loss level for aggressive traders. The impulse wave count from 4650 suggest more upside so buy the dips.

Loyiso_BlaqueSoros_Mpeta

Coronation has been in a strong bear market since peaking in November 2021. The bear seems to be losing momentum as price has traded sideways since September 2022 and it looks like price could be forming a double-bottom reversal pattern. The neckline of the double-bottom is still some distance ahead at 3850. A clean break above the neckline will confirm the...

Loyiso_BlaqueSoros_Mpeta

The last update on Northam was on 30.06.2023, link below. The stock traded a bit lower and caught a bid just above the lower trendline of the channel and then reversed aggressively from 11533, rallying over 30%. There has been key fundamental developments relating to Northam's interests in Royal Bafokeng Platinum also involving Impala Platinum. The market has...

Loyiso_BlaqueSoros_Mpeta

The outlook shared 14.07.2023 did not survive market forces, link below. The bigger picture remains intact but wave 4 is making a more complex and deeper wave structure. Waves ((w-x)) both unfolded as simple zigzags and wave ((y)) is in its early stages. Market momentum is still to the upside and this is a correction of a larger uptrend. I remain bullish but...

Loyiso_BlaqueSoros_Mpeta

The last update on Quilter was on 09.01.2023, link below. I was upbeat on the stock as the price pattern suggested a bottom is in at 1661. I was further bullish as the bear terminated in an ending diagonal (falling wedge). Price action after an ending diagonal tends to be swift and strong in the opposite direction. The stock price of Quilter has been anything...

Loyiso_BlaqueSoros_Mpeta

The bigger picture structure for Kumba is quite complex so I will be looking at price action only from the 20 March 2023 low of 40800. A recognizable price pattern is the three wave expanded flat for wave ((ii)). If 40800 holds, wave ((iii)) can take price beyond 56000 giving a good risk:reward trade. My conviction is not that high but trading is all about...

Loyiso_BlaqueSoros_Mpeta

The last update on Richemont was on 10.03.2023 and the stock has traded as forecasted, link below. *On 18 April 2023 Compagnie Financière Richemont SA converted its depositary receipts to A shares, depositary receipts were surrendered for A Shares in a ratio of 10 Depositary Receipts for one A Share. Historical prices have thus been adjusted. Wave 3 peaked at...

Loyiso_BlaqueSoros_Mpeta

The last coverage of Sanlam was on 25.05.2023, link below. Price held above 5021 which was the stop-loss level and the bulls certainly re-emerged taking price towards 6400. The rally from 5021 is unfolding as a five wave impulse and is in wave v of (iii) of ((iii)). Buy the dips is the medium-term strategy as the wave count suggest more upside in store.

Loyiso_BlaqueSoros_Mpeta

The last update on Glencore was on 03.05.2023. link below. The stock has continued its sideways consolidation, trading in a range between 11326 and 9903. At this stage it is difficult to conclude that wave E of (4) is complete at 9903 as wave E can still trade lower but should terminate at or above 9230. There is no clarity on this stock so I will continue to...

Loyiso_BlaqueSoros_Mpeta

Prosus stock has has an interesting trading history since listing in September 2019. The stock made an all time high in January 2021 and and had a strong sell-off in a three wave zigzag to an all time low in March 2022. The recovery from the all time low can be labeled in numerous ways but in the short-term, it does not really matter. What catches my eye is the...

Loyiso_BlaqueSoros_Mpeta

The last coverage of Remgro was on 24.03.2023, link below. The support level has held and the technical pattern no longer fits that of a head & shoulders. I do not have an investment thesis on Remgro and it is a very slow mover but price looks bullish at this point. For long-term holders, buys can be initiated with a stoploss below the support level.