Loyiso_BlaqueSoros_Mpeta

Loyiso_BlaqueSoros_Mpeta

A quick update from the last post linked below. I am labelling the rally from the wave ((ii)) low to 41225 as wave ((iii)) which has unfolded in five waves labelled wave (i) to (v). The current correction is for wave ((iv)) to be followed by wave ((v)) to complete wave C of (5). Unless we see capitulation, I will use this count as the preferred count.

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I have had to make a minor label adjustment to MCG after the selloff today after the trading update released after market close yesterday. On the last update on March 3, I was looking for buy opportunities on a pullback for wave ((iv)) but I cautioned that the buy would be a wave ((v)) of a higher degree wave 5. The recent selloff confirms that the wave 1 to 5 are...

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The last coverage of TFG was on the 11th of January 2023. Price has broken below 9600 and invalidated the view that a low was in. I have subsequently updated the preferred wave count to that of a double zigzag (WXY). TFG released a Voluntary trading update in respect of the continued impact of load shedding in South Africa yesterday and the market sold as a result...

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The last time I covered Mondi was on the 8th of September 2022 and I had a price target of 23015 as my forecast was for further downside for the fifth and final wave of an impulse move from the all time high of 43005. On the 23rd of February 2023, Mondi released a good set of full year results for the year ended 31 December 2022 from continuing operations (ex...

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This is primarily for the long-term investor and I highly recommend getting the corporate commissioned research done by Standard Bank Securities, published 06.03.2023 on their LinkedIn page. SBG Securities have a Future Value Valuation Range between R76-89. Investing.com Pro is not too far off with a fair value of R94,62. Technically, the share looks to have a...

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After a 41% decline from 25044 to 14734, CFR has had a strong run to new all time highs. The move from 16852 has a classic wave ((iii)) look and therefore the implication is that CFR is still trading within wave 3. A correction for wave ((iv)) will provide a good buying opportunity.

Loyiso_BlaqueSoros_Mpeta

ABSA has had a strong run from the March 2020 low. In November 2022, price tagged the all time high price at 21000 and has retraced since. The rally from 6330 is well supported by the trendline but momentum shows a concerning pattern. The MACD has made a lower high relative to the high of March 2018 giving bearish divergence. This is not to say the share will go...

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I last covered Hulamin on the 26th of September 2022. I have linked the previous analysis. Earlier this week, on the 6th of March, Hulamin released its full year results for the year ended 31 December 2022 with the following salient results: Turnover increased by 22% to R16bn on group sales volumes of 211 328 tons Normalised headline earnings per share up 28% to...

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The last time i covered MCG was on the 25th of January 2023 and price had been trading in a contracting triangle. I said the best choice was to sit on your hands. With a little hindsight, perhaps the best choice would have been using a pending buy order as the forecast did call for a breakout of the triangle for the fifth and final wave. Price literally started...

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Let me keep it simple here: Sponsored research (can't reveal source) has a fair value of 2100 zac Investing.com Pro has a fair value of 2085 zac MACD/Price has a reverse convergence setup which is bearish. Price has been moving sideways in a choppy manner. Too early to start shorting but I am not buying this one at current levels.

Loyiso_BlaqueSoros_Mpeta

The last time I covered Dis-chem was on the 18th of November 2022 and I cautioned on the rounding top formation. I also said I would monitor price action at the 2834 neckline. On the 17th of February 2023, Dischem issued a trading update for the period 1 September 2022 to 5 February 2023. The Group focused too much of revenues in my opinion and did not mention...

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Thungela has been a darling since listing, driven by the energy crisis that saw a sharp increase in coal prices. I have overlayed the Newcastle coal futures to illustrate the relationship/correlation between Thungela and the futures coal prices. From a technical perspective, the Elliott Wave Principle provides us a road map of what we can anticipate. From the low...

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Investec has had a stellar run since bottoming in March 2020. Group results for the six months ended 30 September 2022 (1H2023) saw revenue growth of 18.9% which benefitted from rising global interest rates. Investec also had a positive outlook for 2H2023 and I will be keeping a lookout for trading statements and updates as the company approaches its financial...

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Anglo American released FY'22 results today and all key performance measures were down. The share price has remained resilient though. From the 49368 low, price has traded up in an impulsive manner. The move from 64017 looks to be in three waves and could be a b-wave of a triangle for wave ((iv)). A break below this level will prompt an update of the wave...

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Ok, I will be the first to admit that i look at Gold Fields more than any other stock, but there are reasons for that. I spent over a decade in the mining industry, two of which were at Gold Fields' South Deep operation. Secondly, I love commodity stocks as they are more volatile and cyclical, providing good trading opportunities. Gold Fields released FYE'22...

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Adcock released a very good set of interim results for the six months ended 31 December 2022 yesterday. Revenue +8% Gross profit +8% Trading profit +15% HEPS +20% Dividend +20% This is an overlooked stock but one good set of results certainly does not mean buy so I guess a deep dive is necessary on this one. The technical picture is also a good looking one. From...

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On 21 November 2022, with the release and publishing of Astral’s year end results for the year ended 30 September 2022, the Group strongly cautioned the market that Astral was expecting market conditions to deteriorate, with record high feed input costs, devastating levels of load shedding and the general decay of municipal infrastructure continuing to impact...

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Barloworld released a pleasing voluntary update for the four months to 31 January 2023 today. Again, I urge you to read it for yourself. Technically, I see clear Elliott Wave patterns in BAW price action. The uptrend from 5141 to 15499 unfolded as an impulse labelled wave 1 to 5. The bear correction is unfolding as a zigzag labelled wave A to C. Wave A unfolded...