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...
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...
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...
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...
This is more of a short-term play. The advance for wave(i) is a leading diagonal. Price has broken above a resistance level in the 800-810 range and the price action looks impulsive which is consistent with wave(iii) action. As long as price holds above 656, any pullback will present good buying opportunity.
Montauk had a good run since listing on the JSE in January 2021. Since hitting an all time high at 36200, the share has lost almost 53% and could present good buying opportunity at current levels. The technical structure is still unclear though there are early indications that the selling pressure is waning. The MACD is moving strongly upwards towards the zero...
Life Healthcare stock peaked way back in 2014 around 4400 and has endured one the longest bear trends on the JSE. The hospital sector did not catch tailwinds in the post covid-19 crash everything rally. The share did catch a bid between December 2020 to June 2021 rallying from 1500 to 2820, though i must add cautiously, this rally looks to have unfolded in three...
Cashbuild is still trading far from its all time highs of 2018. The post-covid-19 crash rally from 7000 to 34599 unfolded in five waves and the correction has been prolonged but contained within a descending channel. Technically, this calls for further upside and price is currently hovering above the golden ratio 61,8% retracement level. The fundamental picture...
PAN released a trading statement today for the six months ended 31 December 2022. HEPS and EPS are expected to decrease between 31% and 41%. The decreases in EPS and HEPS for the Current Reporting Period, relative to the Corresponding Reporting Period, are largely as a result of an 19.2% decrease in gold revenue to US$156.5 million (2021: US$193.6 million),...
BAT released its annual results for FYE 31.12.2022 yesterday. There are some highlights and I recommend investors and traders read for themselves. Seeing that the share traded lower on the news, it can be concluded that Mr. Market is not that excited. Looking at BAT from an Elliott Wave perspective, it looks like the share price is going nowhere excruciatingly...
I last covered SAPPI in November 2022. The bullish medium-term outlook is still intact as price is not threatening the 1720 zac level. On the cautious side, the decline from 6348 to 3937 could be the first leg of a bigger three wave flat pattern. The rally from 3937 to 5835 is either wave 1 of a new bullish impulse wave or wave (a) of wave ((b)) of a flat pattern...
I probably do more grocery shopping at PnP than at any other store but it is one food share I avoid at all cost for investing. The share price performance over the last five or so years has been underwhelming and continues to do so. The company released a trading update for the 43 weeks ended 25 December 2022 today and despite improvements in sales, Mr Market did...
Sasol released a trading statement for the six months ended 31 December 2022 yesterday. The statement was indeed a mixed bag of expected results which the market did not take kindly to. The share gapped lower at the open and bottomed at 27801 zac. Whether the market over-reacted or not is not a debate I get involved in. On the positive side, the expected results...
Bidcorp stock has been underwhelming since listing, generally moving sideways in choppy fashion and as a result has not been in my watchlist, until now. From September 2022, the share price started to rally in an impulsive manner and on the 1st of February 2023 released a positive trading statement expecting HEPS and EPS to increase between 43% to 49%. The market...
Shoprite released a very good Operational update for the six months ended 1 January 2023 yesterday, a must read for anyone looking to trade or invest in this stock. As pleasing as this update was, a look at the charts shows a couple of red flags one must be cognizant of. The Elliot Wave structure suggests that the stock is trading in wave (5) and so far looks to...
Harmony released a SENS update this morning. Salient notes: Total gold production for the six-month period ended 31 December 2022 (“H1FY23”) was between 720 000 oz (22 394kg) and 745 000 oz (23 171kg). In line with guidance, all-in-sustaining costs (“AISC”) for H1FY23 was below R900 000/kg. Despite the ongoing electricity shortages and supply chain disruptions,...
BLUE had a strong sell-off in August 2022 from the peak of 750 zac. The decline to 435 zac unfolded in a clear five wave impulse pattern. What is uncertain is whether this sell-off is wave A, implying further downside, or wave C, implying 435 zac is a significant bottom. What matters in the short-term is after a five wave sell-off, as a minimum, price should...
Lewis released a trading update for the nine months to December 2022 last Friday and the key takeaways were: 1.Widespread inflationary pressures, rising interest rates and record high unemployment levels curtailed consumer spending. 2.Retail trading patterns were significantly disrupted by electricity load shedding, particularly over the festive season. 3.Credit...