Loyiso_BlaqueSoros_Mpeta

Loyiso_BlaqueSoros_Mpeta

Woolworths stock had a good run from March 2020 to Feb 2023, peaking at 8047cps. What followed was a strong correction to 5824 and a rally just above the previous peak to make a slight new high at 8113. This "twin peak" could potentially be a double top formation with a neckline at 5824 or a flat correction. With the stock trading in the middle of support (5824)...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. It been 9 months since I last covered Jubilee and the stock has invalidated the five wave impulse outlook by breaking below 128. For an impulse, wave (4) cannot terminate within the price territory of wave (1) and ideally should not even retrace back into it. This leaves me with an alternative view that the bigger pattern...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Barloworld stock recently made a break below 7984 which was a critical level to maintain the bullish view. A break below this level has prompted an update of the wave structure and I now identify the sideways movement from 2023.01 as a contracting triangle for wave ((iv)). The stock is now in the fifth and final wave of the...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. PGM stocks have clearly not yet bottomed. Sibanye is trading as previously forecasted and looks to be in the fifth and final wave of wave (C). Price action has been choppy from the wave 4 peak suggesting wave 5 could be an ending diagonal. How much lower the stock can go is anyone's guess so I stay short until I get reversal signals.

Loyiso_BlaqueSoros_Mpeta

Nedbank had a stellar two year bull run from March 2020 to March 2022. The consolidation pattern from 24625 looks like a barrier triangle but it can also be viewed as a horizontal rectangle depending on where one starts the upper trendline. There is no clear direction at this moment so I will sit on my hands.

Loyiso_BlaqueSoros_Mpeta

See link below for original analysis. Two things played out since my last coverage: 1-the market topped out not too long after the analysis. 2-we got a clear MACD divergence between wave (3) & (5). The correction hasn't been aggressive and I am looking at it as a potential zigzag pattern. Wave (A) & (B) look complete so now the question is how much lower can...

Loyiso_BlaqueSoros_Mpeta

See link below for previous update. The market loved the SENS announcement of the CEO stepping down as the share shot up more than 14% from the open. I am still maintaining the tentative labeling of the down move from 22958. What is key is that 13427 is still holding and price action from 13676 looks impulsive but I want to see five wave up to have a high...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Quilter has remained above 1661 but cannot seem to break decisively above 2200. The stock has traded in a narrow, choppy, sideways range between 1661 and 2217. I do not follow this company so I am not sure what the fundamentals look like but they might be as choppy looking at the share price performance since listing. I...

Loyiso_BlaqueSoros_Mpeta

See link below for prior analysis. Pick N Pay released arguably one of its worst 26 week trading results today and the market was not happy. The rehired CEO stating that it may take two years to turn things around shows just how gloomy things are at the company. Technically, there hasn't been any signs to be enthusiastic even before the announcement of the...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis Little has changed from a fundamental perspective and the share price has continued to trend lower. Price is now trending in a falling wedge pattern which can be viewed as bullish once price breaks out of the wedge, ideally on high volume. What is key for the five wave advance from 7000 to 34599 to remain valid is for price...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. The dip of the previous analysis proved to be first leg of a three wave pullback. I am looking at the retracement from 123201 as unfolding in a zig zag pattern. It looks as if the pattern is now in its third wave. It is a bit early to look for buy opportunities but I will monitor this pattern closely. The bigger structure,...

Loyiso_BlaqueSoros_Mpeta

The US health regulator on Thursday blocked the sale of six flavours of British American Tobacco’s (BAT) main vape brand, Vuse Alto, in the market including the menthol flavour that makes up a large portion of its sales. This bad news comes at a time when the share price has long been in a downtrend and as can be seen by todays candle and volume, sellers came in...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Renergen has yet to fulfil its potential and is yet to post a profitable year. Much is written about the potential of the company and that is always the risk with commodity/resource stocks that list while still in their startup phase. The chart does not look pretty. Recent downside momentum, partially fueled by twitter/X...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Shoprite had a strong 39% five wave rally from the May low of 19165 to 26659. This strong rally had very shallow dips which showed the underlying strength and momentum in the stock. From 26659 to 23330, the stock has made a textbook -12.5% three wave zigzag correction which is the biggest dip from the May low. This pullback...

Loyiso_BlaqueSoros_Mpeta

See link below for the previous analysis. Blue Label is trading as previously forecasted. The bounce from 235 is for wave 4 so to complete wave (C), I expect one more move down for wave 5.

Loyiso_BlaqueSoros_Mpeta

See link below for original analysis. Purple Group stock is still failing to catch a bid. After a brief period of consolidation, the stock has resumed its downtrend and looks likely to hit the Double Top price target of 46 zac. Another look at the MACD indicator shows how the bulls have tried and failed on five occasions to break above the zero line. The...

Loyiso_BlaqueSoros_Mpeta

See previous analysis in link below. Discovery stock reached the 16000 region previously forecasted and did not travel much further. A break below the lower trendline is a strong indicator that the bull run is complete and that the stock is now in a correction phase. I am looking for a three wave decline, similar to wave ((iv)) of the advance, before looking to...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Well, no surprise here, the stock has triggered a reset of its wave count by making new all time lows. One really has to believe in the fundamentals of the company to take long positions in this one. This will most probably be the last coverage of MCG for a while.