Daily Brief Energy/Materials: Kansai Paint, Crude Oil, Newmont Mining and more

In today’s briefing:

Kansai Paint (4613) Announces Large Sale of Cross-Holdings – Buyback Here We Come
WTI Crude Oil Futures (CL1) – Weekly Close Setting Up to Confirm a Material MT Downtrend Bias
Newmont Corporation: Expansion & Development Projects – Key Drivers

Kansai Paint (4613) Announces Large Sale of Cross-Holdings – Buyback Here We Come

Today after the close, Kansai Paint (4613 JP) announced it would sell 3 investment securities in the current quarter and would book a gain of “around ¥30bn.”
As discussed in Kansai Paint (4613 JP) Secondary Offering & Buyback and All the Subsequent Flows, Toyota’s sale of KP shares meant KP could sell Toyota shares. Now they will.
This is a set-up to another buyback, eventually to unwind more in-bound cross-holdings and to raise ROE.

At TMA we deliver high probability outcomes by focusing on our 3 pillars of technical analysis. •1) Response to key levels. •2) Price action. •3) Momentum confirmation.
The past 3 weeks have produced a failed new 2023 high in WTI Crude Oil futures (CL1), a bearish weekly reversal pattern and a break below the recent prominent gap.
A weekly close below the gap base at 75.72 will confirm a renewed and dominant MT downtrend bias and target a retest of the 2023 low at 64.12.

Newmont Corporation ended 2022 with a mixed fourth-quarter performance.
The company generated $3.2 billion in revenue in Q4 and started Q1 with a $2.7 billion of revenue.
Newmont improved the coaching and development of its frontline leaders to improve the effectiveness of its important control verifications.

💡 Before it’s here, it’s on Smartkarma

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network