Market Overview

The following is a partial recap of the market analysis shared during today’s morning Discord call.

Today’s market follows a weekend of mixed but overall quiet newsflow from the Middle East. We saw news of yet another peace deal on Friday, which was again rejected sometime into the after-session, but it noticeably failed to cause any major dips, following the trend, where market’s path of least resistance is up. Another noteworthy development during Friday’s session was gold’s move higher, which failed to break the 4550 level of resistance, which remains the level to watch. We also see strength in copper, platinum and oil, while the rest of the commodity space starts flat today.

Intel (INTC)

Intel is down by roughly 0.6%, following NVIDIA’s (NVDA) announcement of a new chip for computer processors, which stands to challenge Intel’s share of the consumer market. This could be an opportunity for those who trade after hours in the U.S., but we recommend caution and research, as Intel has been somewhat difficult to trade due to the moves it has had in the last few weeks.

Local Stocks

Naspers (NPN) & Prosus (PRX)

Naspers and Prosus are on the watchlist, as both are major shareholders in Tencent (700), which starts the day with around 2.3% in the green.

From left to right: Naspers (NPN), Prosus (PRX), and Tencent (700).

Dual-listed Golds

The dual-listed gold miners start the day more or less flat, following the sells on Friday. We recommend keeping an eye on them, as they could return to the buy-side.

From left to right: AngloGold Ashanti (ANG), Gold Fields (GFI) and Harmony Gold Mining (HAR).

Clicks (CLS)

Clicks is on the watchlist, as it had an elevated trade volume on Friday. It also had a massive drop, reaching new swing lows, bringing it down to 2023 levels.

Economic Data

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