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The last coverage of Shoprite was on 01/02/2023, link below. Shoprite traded a lot lower since the initial coverage but has caught a massive bid since 31 May. I have yet to dive deep into what could have triggered the buying but the technical picture has become clearer. The stock has made a large, sideways Flat pattern from the wave (3) peak of 24723. From 24723...

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Sasol has found buyers twice at the 22136 region creating a double bottom. The pattern has not yet been confirmed. To confirm the pattern with conviction, bulls have to clear 25960 and preferably with higher than average volume of the last few sessions. The stock is also faced with overhead resistance from the trendline. The double bottom outlook will be...

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The original analysis of Exxaro was on 23.03.2023 and I was already bearish, link below. Exxaro is notorious for wild swings so this could be a big bear especially with coal prices under severe pressure. I have overlaid the coal futures prices on the chart in gold Bearish triggers: 1-Support trendline decisively broken. 2-Death Cross, 50EMA crossed below 200EMA...

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The original analysis of Absa was on 09.03.2023 and i was cautious to bearish, link below. The bearish outlook has now been triggered 1-Price has broken decisively below the support trendline. 2-We have a Death Cross, the 50EMA has crossed below the 200EMA on the daily chart. Many institutional investors see this as a major trend change signal. 3-The MACD has...

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Tiger Brands had a good run since the first analysis, link below. The stock fell just short of my target of R240,00 and peaked at R229,58. The advance from 13427 to 22958 unfolded in five waves. After a five wave advance, we can expect a three wave correction as a bear minimum. I am tentative on the long-term outlook hence i have not placed a higher degree label...

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The last update on Astral was on 27.04.2023 and that short-term view has been quickly invalidated. The longer-term view shared 22.02.2023 is now fully underway, link below. Astral released interim results for the six months ended 31 March 2023 on 22.05.2023 with the following salient results: Revenue up 6% Operating profit down 89% Earnings per share down...

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Since the May 2020 bottom at 8341, SBK has trending upwards albeit in a very choppy manner. The ascent has been supported by a mid-sloping trendline which price is currently testing. A potential double-top pattern is what has caught my eye though. The pattern is not yet confirmed as price has not decisively broken below the 14000 range neckline. The next few weeks...

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Anglo had a strong run since the last analysis, link below. The rally from 23.02.2023 unfolded in five waves and price has broken below the origin of wave ((v)) of 5. This implies that five waves 1 to 5 is complete and we should expect a correction in the stock. I have overlaid the stock price with the spot gold price and its clear to see that the gold price has...

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The last coverage of BAW was on 2023.03.29 and I raised the possibility that the stock could have bottomed at 7984, link below. The company released its interim results H1'23 three days ago which I have yet to read and i highly recommend you read for yourself. Current price action is strong to the downside and aggressively approaching 7984. For the bullish...

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The last coverage of Sanlam was on 2023.01.04 and the wave count was suggestive that a bottom was potentially in at 4686, link below. Sanlam had a strong, impulsive looking rally from 4686 to 6076. The correction to 5021 is a clear three wave move labelled as a double zigzag (wxy). Long positions can be opened at current prices with an aggressive stop-loss below...

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The last coverage of Spar was on 2023.01.18 and the wave count was suggestive that the big bear had potentially ended at 11298, link below. The stock had a good, strong and impulsive looking rally from 11298 to 15432. The corrective move from 15432 to 11778 has thus far unfolded as a double zigzag (wxy). The stock bounced at 11778 to just above 12700 before...

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The telecoms look to be in for some pain in the short-term and Blue Label will unlikely to be spared. After sharing my outlook on Vodacom and Telkom yesterday as well as MTN last week, it was time to take a deeper look into Blue Label. Starting with the rally from the March 2020 all-time low of 152 to 750, this advance is best labelled as a three wave move (ABC)...

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Vodacom may be a good company but it has always been a horrible stock for me. For a stock of its market, it has always displayed bad technical characteristics in terms of trends, patterns, volume etc. The trend currently is clearly to the downside and without clear historical support, the first downside target is the March 2020 low of 9070. Short the rallies.

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Telkom has been all about wild swings since listing in 2003. The stock had a decent recovery from the March 2020 lows of 1329 but now the stock seems set to erase all the gains. Telkom released a trading statement for FY'23 yesterday and the market clearly does not like it. The strategy is simple, short the rallies towards 1329-1134.

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The last coverage of PPC was on 2022.12.01 link below. The bigger picture outlook is still the same. The bounce from 186 to 355 has been in three waves so there is still potential for further downside. In the short-term, the key level to watch is 209 as a break below it could price below 186 for wave ((z)) of 2. If 209 holds and price pushes towards 355, that will...

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On 2023.05.11 Sappi released second quarter & interim results for the period ended March 2023. The results were bad and the outlook was gloomy. Salient results half-year: Sales (13%) EBITDA excluding special items (21%) Profit for the period (17%) The share rallied from 3968 to 4595, up almost 16% over the next three trading days. The share has pulled back...

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MTN stock has shed almost 50% of its value from the March 2022 high of 21149. Yesterday, the group released a quarterly update for the period ended 31 March 2023 which is a must read for a fundamental perspective. Technically, the price patterns are becoming clearer. The prolonged sell-off from 21149 to 11262 is labelled as an impulse for wave (A) with wave 5...

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The last coverage of Foschini was on the 14th of March 2023, link below. Price has traded moderately lower since then. On the 10th of May 2023, TFG released a trading update for Q4'2023 and the 12 months ended 31 March 2023. Technically, not much has changed on the structure and we now have more clarity that the correction is not yet complete. The stock had a...