Impala hit an all time high in March 2022 at R309,19 and then shed 52,5% in a bear correction that looks to have bottomed at R146,80. What gives me confidence in a short-term bull run is the rally for wave (i) unfolded in five waves and the correction for wave (ii) unfolded in three waves and terminated above R146,80. The current rally from R153,55 already looks...
Construction and materials group Wilson Bayly Holmes-Ovcon (WBHO) reported its first annual loss in its 52 years in its 2022 results. Low levels of construction activity in the UK and slow government infrastructure rollout in SA paint a grim picture for construction companies. Many still view WBHO as the best run and well placed company compared to its peers. A...
Sygnia had a good run from April 2020 rallying from R6,54 to a peak at R21,25 in February 2021. What is most positive is that this rally unfolded in five waves labelled (1) to (5). Since the peak, the share has traded in a clear consolidation manner moving generally sideways. This adds further bullishness as the bears have not really taken control but its more a...
Commodity stocks, like the underlying commodity they generate revenues from are well known to be cycle. Looking at Wesizwe, it is no different. Since listing in 2006, the share has declined from an all time high of R16,50 to an all time low of 31 zac over twelve years. The EWP puts this bear market into perspective. The entire bear is a zig zag pattern labelled...
A simple analysis of MTN following a 47% dip from the 52 week high. MACD/price convergence signals the selling momentum is waning. The resistance trendline has not yet been broken convincingly. Use R112,62 as stop-loss level.
ANH can be used a case study for the practicality of the Elliott Wave principle. The recover from the March 2020 low at R572,67 to the peak at R1111,64 unfolded as a Leading Diagonal labeled 1 to 5 for a higher degree wave (1). The share price has since consolidated for almost two years but could the consolidation be over? Complex corrections in the EWP, (WXY or...
York Timber is still a long way away from its lofty heights of years gone by. What is most encouraging though is that the Covid-19 exacerbated sell-off in March 2020 did not lead to a new low relative to the February 2019 low of 70 zac. The rally from 75 zac to 420 zac unfolded in five waves labelled (i) to (v) which is a bullish sign that more upside can be...
The share had a good run from May 2020 rallying from R1,71 to peak at R13,00 in November 2021. Since that peak, the share has made new highs but the bulls seem to not have the steam to break R14,00. The three peaks at R13,00/R13,87/R13,75 can be viewed as a triple top and the MACD indicator has been flat in this price area. This price formation calls for caution...
Watch the QuanTechMental analysis using this link youtu.be Remgro is undergoing massive restructuring of its underlying investments so one needs to focus a lot on the fundamentals. Restructuring does not always bring the value unlock investors look for and can end up being value destruction. The charts show that since bottoming at R82,93 and rallying to a peak at...
Watch the QuanTechMental analysis using this link youtu.be Brait has undergone some restructuring of its business over the past three years and has seen the share price drop from lofty heights to hitting a bottom in March 2021 at R2,30. The rally to R5,10 unfolded in a clear impulsive manner which i have labelled wave 1 to 3. Since hitting the R5,10 the share has...
Stadio is a favourite of mine with solid fundamentals since unbundling from Curro. The share price decline since listing was more of a macro fundamentals issue as the company beat all its pre-listing targets showing good growth. From the March 2020 bottom at 75 zac, the advance has broken down in five waves labelled 1 to 5 for a higher degree wave (1). Wave (2)...
Watch this video for some Quantitative and fundamental analysis on SA Banks youtu.be SBK has found the going tough since bottoming in May 2020. It has been the laggard in the local banking stocks but perhaps offers more upside opportunity. The share price has been trending up a moderate slope trendline and as long as it does not break and close below the...
Jubilee enjoyed a stellar run from the March 2020 bottom as commodities boomed globally. The share price appreciated more than 10x from 37 zac to peak at R4,26. Such a strong run was bound to cool off at some point and the share has pulled back. From an Elliott Wave perspective I remain bullish Jubilee in the short-medium term. The rally from March 2020 was wave...
The hospital sector has found the going tough over the last 7 years. Even covid did not bring much in terms of good fortunate as in other sectors. Fundamentals are always critical but technical and cyclical analysis paints a bullish picture for the stock. The decline from the 2015 all time high has unfolded in a textbook (A)(B)(C) zigzag pattern with both the (A)...
Afrimat had a strong run from March 2020 to peak at a new all time high at R76,47. Afrimat's share price trend is not easy to breakdown using Elliott Wave analysis but good old support, resistance and trendlines might just do. I am not a fan of sloping trendlines as support and resistance but seeing that this one has four touches makes it a good area of value to...
PPH made a strong recovery from the post covid-19 sell-off low at R9,31 to peak at a new all time high of R27,59. The rally does seem to be unfolding in a 5 wave pattern with the all time high being the terminal point of wave 3. Wave 3 is extended relative to wave 1 and wave 2 was a sharp and swift zig zag correction. Using the guideline of alternation and the...
How the mighty have fallen. Since reaching an all time high back in January 2015, CML has been in a strong bear market. The decline from R115,20 to R24,36 can be labelled as an (ABC) zig zag. Like many global stocks, CML found a bottom in March 2020 after the covid-19 sell-off and this was followed by what looks like a five wave rally to R55. If the bear market is...
Little needs to written on EOH's fall from grace. The once darling of the JSE still struggles with its debt burden corruption legacy issues. Any EOH buys will be mainly speculative in the short-to-medium term as the company continues its recapitalization. Technically, the March 2020 bottom at R2,13 still looks like a key bottom. The positive sign is that the rally...