Loyiso_BlaqueSoros_Mpeta

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Sibanye's stock made a strong pullback since the previous analysis and challenged the key 1756 invalidation level. Most importantly, price managed to just hold above 1756 therefore keeping the bullish outlook valid. The re-test of 1756 has also created a double bottom reversal pattern which adds to my bullish...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. MTN released its FY'23 results on the 25th of March and it was a mixed bag of results. Salient features: Group service revenue grew by 6.9% (13.5%*) to R210.1bn (2022: R196.5bn) EBITDA (before once-off items) down by 0.5% (9.8%*) to R90.5bn (2022: R90.8bn) EBITDA margin lower by 3.0 percentage points (pp) to 40.9% (1.2 pp*...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. The best way to describe the ascent from the May 2020 low is creepy-crawling. SBK stock has been steady with price well supported by the mid-sloping trendline. As price has continued making higher highs, the MACD has made lower highs giving a bearish divergence signal. This does not imply a bearish reversal but that a...

Loyiso_BlaqueSoros_Mpeta

Naspers has found the going tough since the January 2023 peak, trading sideways in a wide range. The consolidation has not been a textbook rectangle with supporting shifting zones but the resistance has been stern around 355300 cps. The stock caught a big at 267330 and is again approaching the resistance for a third attempt to break above it. I am neutral at...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Discovery has traced out the three wave decline I forecasted after the five wave advance from 10073 to 16042. The decline is labelled as a zigzag with a triangle wave and wave is now near the support trendline of the falling channel. There is no evidence of a reversal yet. For this bullish, bigger picture ABC outlook to...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Jubilee has continued to trade lower and having breached 128, i am tentatively abandoning the five wave count as wave (4) has penetrated the price territory of wave (1) violating one of the golden rules of an impulse. The bear market from 426 is forming a falling wedge which is bullish but price can still go lower. I will...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Sasol has continued its strong selloff, going well below the support zone of my previous analysis. Price action is giving better Elliott Wave context. I am looking at the bear market from 43860 as a zigzag with the bounce from 13226 for wave (iv) of . The zigzag is well contained in a falling channel and a clear break out...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. The previous analysis was quickly invalidated; this is why we use stop-losses! The stock has been trending downwards for over three years now and looks likely to set a new all time low below 128. A break above the upper resistance trendline would give an early signal for a potential reversal but there is no sign of...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Montauk recently released it FY'23 annual results and they were not pretty. The renewable-energy company posted fiscal 2023 earnings of $14.9 million, or 11 cents a share, down from $35.2 million, or 25 cents a share, in the same quarter last year. Analysts polled by FactSet were looking for earnings of $20 million, or 15...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Vodacom continued its sell-off and has reached the price target of 9070, the March 2020 low. There is no evidence yet of any reversal so i will sit on my hands. I will monitor price action at this level for a potential double bottom reversal.

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Kumba failed to rally on after the breakout and has sold-off aggressively invalidating the bullish outlook. I will sit on my hands on monitor price action at the support trendline.

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. I am now convinced in the breakout due to 1-Increase in volume after breakout. 2-Clear price continuation above the resistance trendline. Buy the dips.

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Merafe has broken above the critical 146 neckline and looks likely to close the week above it. This confirms the double bottom pattern and the price target 200cps. Price can still reverse back below 146 but the bullish outlook is invalidated below 104 cps.

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. Tiger Brands has traded as forecasted. Wave (iii) was ignited by the CEO stepping down and the momentum was sustained with very small pullbacks. Wave (iv) has unfolded as a flat pattern and wave (v) is underway with the invalidation level now raised to 18930. Wave (v) is always risky as it is hard to forecast how it will...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. I have updated my preferred wave count and it has significant implications. The new count shows the decline from 33519 to 11079 as a complete zig zag pattern. Wave (A) is a impulse with distinguishable five waves. Wave (C) is also an impulse though more simple in structure. I am looking at the advance from 11079 to 22166...

Loyiso_BlaqueSoros_Mpeta

See link below for previous analysis. The triangle outlook has been invalidated but prices has continued upwards as forecasted but with much reduced momentum compared to wave . The support trendline is firmly intact but price action has been very choppy from 5370. It is likely that the stock is forming an ending diagonal for wave . I am always cautious when a...

Loyiso_BlaqueSoros_Mpeta

First Rand has been consolidating since making a new all time high in March 2022. The consolidation pattern seems to be unfolding as a contracting triangle. Triangles are tricky as they can breakout on either side or evolve into a more complex pattern. I will remain neutral and wait for price action to lead the way.

Loyiso_BlaqueSoros_Mpeta

See link below for previous update. Nothing much has changed, price still contained in what looks like a contracting triangle. I remain neutral as to the direction of the breakout so I will sit on my hands for now.