List of Glossary Terms

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Numeric


T
The symbol for a transaction's date used by the JSE. Thus T is the date on which a transaction takes place, T+1 is the next trading day, T+n is the day after that and so on. Today the JSE guarantees... read more
 
T-BILLS
Instruments for short-term borrowing employed by governments. The bills are issued by tender to the money market. Usually, when economists refer to Treasury bills (or T-Bills as they are known)... read more
 
TAIL
A candlestick charting term which refers to the extent to which a share's price trades below its open, in a green candle or its close in a red candle. In candlestick charting the candle is coloured... read more
 
TAIL
The wick or tail, at one end or both, designating the high and/or low prices for the period upon which a candle is based. In order to create a candlestick chart, you must have a data set that... read more
 
TAILINGS
Residue ore from which precious metals or base metals have been extracted. As mining technology advances it is often possible to re-process tailings and extract additional metals... read more
 
TAINTED SCRIP
Shares certificates and other securities which are fraudulent or forged. Since the advent of dematerialisation all shares have been converted to electronic records maintained by STRATE. One of... read more
 
TAKE-HOME PAY INDEX
An index prepared by Bankserv Africa which incorporates just over one third of salary and wage payments, mostly from large corporates but also from some mid-sized companies. About 30% of payments... read more
 
TAKE-OVER
The situation where one company makes an offer for some or all of the shares of another company. The offer to existing shareholders is usually pitched at a price well above the existing market... read more
 
TAKE-UP DATE
The date by which the new shares issued in terms of a rights issue must be taken up. On the ex-rights day (i.e. the day after the take-up date) the right are worth nothing. A rights... read more
 
TAKE-UP PRICE
The price at which shares subject to a rights issue must be bought. Normally this price is below the market value of the shares, so that the rights themselves have a value. If the rights are... read more
 
TAKEOVER PANEL
A panel of 17 people whose job it is to examine mergers and acquisitions or any transaction which might change the control of a company. The panel includes the commissioners of the Competition... read more
 
TAKING A VIEW
This phrase has two meanings. Firstly, it can refer to an investor taking a bullish or bearish view of the market depending on whether he believes market trends will rise or fall - usually this... read more
 
TANGIBLE ASSET
An asset which can be touched, and more particularly, sold for somewhere close to its book value. Tangible assets include assets such as land, buildings, equipment, vehicles, and furniture. This... read more
 
TANGIBLE NET ASSET VALUE
A company's net asset value (NAV) is obtained by subtracting the value of all its liabilities (except for the owners' equity) from the value of all its assets. Normally... read more
 
TANGIBLES
Cash equivalents of the futures contracts.
 
TANKAN
A quarterly business confidence indicator produced by the Bank of Japan (BOJ) for the Japanese economy. The Tankan is an important economic indicator and can sometimes influence... read more
 
TARGET
The Reserve Bank, through its Monetary Policy Committee (MPC) strives to keep the inflation rate between 3% and 6%. They target the CPI-X which is the CPI without the effect of interest rates.... read more
 
TARIFF
A tax or levy which is added to the cost of imports by a country, usually to protect its local industry. Tariffs increase the cost of imported goods making locally produced goods more... read more
 
TAS
07 - 09- 2020
This share is now known as Luxe Holdings (LUX).
Click here to go to the company's website.
 
TAX AVOIDANCE
The organisation of a person's financial affairs in such a way as to minimise their tax liability within the requirements of the Income Tax Act (58 of 1962). In other words, avoidance... read more
 
TAX BASE
The group of people and companies in a country who pay tax. One of the most challenging problems of the new South Africa has been to widen the tax base to include more people. Obviously, if the... read more
 
TAX BRACKET
A bracket of personal taxable income which determines how much tax an individual has to pay. In the tax year ending on 28th February 2021, the tax threshold below which tax is not payable is... read more
 
TAX COMPLIANT
A term used to describe a business which complies with the requirements of the Income Tax Act (58 of 1962). Tax compliance levels in business are a function of how well the Receiver of Revenue's... read more
 
TAX EVASION
A criminal offence committed by someone who does not declare their tax position correctly in their tax return, thereby defrauding The Receiver of of Revenue of taxes due. Evasion differs from... read more
 
TAX EXEMPT SAVINGS ACCOUNT
The TFSA was brought in in 2015 to encourage people to save. It is a savings account which attracts no income tax, capital gains tax or interest tax. Each natural person can have one TFSA into... read more
 
TAX HAVEN
A country which has very low effective tax rates and sometimes also keeps the names and details of the individuals who invest there secret. Multi-national companies in particular make... read more
 
TAX RESIDENT
In terms of the Income Tax Act (1962), an individual who is ordinarily resident in South Africa under common law - or someone who meets the physical presence test. The physical presence test... read more
 
TAX THRESHOLD
The maximum amount of taxable income which an individual can have without exceeding their primary rebate. In the tax year ending on 28th February 2021, in terms of the tax tables, and individual's... read more
 
TAX YEAR
The financial year of the government. In South Africa our fiscal year runs from 1st March until the 28th or 29th of February the following year. Our budgets are made for this fiscal year and... read more
 
TAX-DEFERRED
In which an investment allows an investor to postpone paying taxes on money put into the investment until the investor literally takes possession of the money invested.
 
TAXABLE INCOME
Your taxable income is your total income for the tax year less whatever expenses you have incurred in generating that income. Once you have calculated your taxable income you can subtract any... read more
 
TAXATION
The amount paid to the government by individuals and companies to provide funds for the fiscus to meet government expenses. In South Africa there are various forms of taxation.... read more
 
TAXATION TREATY
An agreement between two countries to avoid the double taxation of individuals and companies. Such treaties usually define the tax which a country can levy on a taxpayer's income, capital... read more
 
TBG
17 - 09 - 2020
Tiso Blackstar (TBG) is primarily a media company with interests in South Africa and the rest of Africa. It owns iconic newsprint brands like the Sunday Times, Business Day... read more
 
TBS
24 - 08 - 2020
Tiger Brands (TBS) is a massive diversified food producer and marketer in South Africa. It produces and sells such well-known brands at Jungle Oats, Tastic Rice, Koo, All... read more
 
TCP
16 - 09 - 2020
Transaction Capital (TCP) is a company which specialises in financing, repairing, insuring and selling minibus taxis in South Africa. It completely dominates the entire value... read more
 
TCS
03 - 01 - 2020
This company claims to be an IT company supplying software and administration services to municipalities and provincial governments. It has no active website and the share... read more
 
TDH
26 - 05 - 2020
Tradehold (TDH) is a real estate investment company with property in the UK (42,7%) and Southern Africa which is 48% owned by Christo Wiese. 40% of its assets are in the UK... read more
 
TECH SHARES
Technology shares world-wide are becoming more and more important as computers, cell phones and the internet become more powerful and ubiquitous. In America, most tech shares are listed on the... read more
 
TECHNICAL
The analysis of group investor behaviour, as reflected in the patterns of share prices and volumes, indices, exchange rates and other data streams. More commonly known as charting, this consists... read more
 
TECHNICAL ANALYSIS
The analysis of group investor behaviour, as reflected in the patterns of share prices and volumes, indices, exchange rates and other data streams. More commonly known as charting, this consists... read more
 
TECHNICAL ANALYST
A person who studies and makes use of patterns within the prices of shares and other securities. Technical analysis aims to develop a profitable trading strategy... read more
 
TECHNICAL INDICATOR
A technical indicator is a mathematical formula which is applied to price and volume data for shares (and other securities) to identify and isolate patterns which may then be used to predict... read more
 
TECHNICAL INSOLVENCY
A situation where a company's liabilities exceed its assets. This does not mean that it cannot continue in business, especilly if it is taking steps to alleviate the situation. For example, the... read more
 
TECHNICAL RECESSION
Two consecutive quarters of negative economic growth as measured by a country's gross domestic product (GDP),
 
TECHNICAL RISK
The risk inherent in the volatility of a share's price on the JSE - as opposed to the fundamental risk that the company's business will become less profitable. Obviously technical and fundamental... read more
 
TECHNICALLY
The analysis of group investor behaviour, as reflected in the patterns of share prices and volumes, indices, exchange rates and other data streams. More commonly known as charting, this consists... read more
 
TECHNICIAN
A technician is an investor who strives to predict the future progress of a share's price by studying patterns in its past price and volume performance. Technicians study the charts of shares... read more
 
TECHNOLOGY
This refers to the use of scientific advances to improve efficiency and productivity. Technology has a massive and growing impact on the share markets of the world. Many companies... read more
 
TELEGRAPHER'S EQUATION
 
TERM INSURANCE
Insurance which is aimed at covering you for a specific risk like your death or disability or the theft of your car or a house fire. This is as opposed to endowment insurance which is a type... read more
 
TERM STRUCTURE
Also known as yield curve. The slope of the term structure is the yield on long-term government bonds minus the yield on short-term instruments such as Treasury bills.
 
TERMINATION
A term decribing the removal of a company from the JSE and the termination of its listing. Companies delist for a number of reasons, but usually because their share is very thinly traded or is... read more
 
TERMS OF TRADE
A ratio which expresses a country's exports as a percentage of its imports. A ratio above 100% shows that the country is exporting more in value terms than it is importing with... read more
 
TEX
26 - 09 - 2020
Texton (TEX) is a small real estate investment trust (REIT). The company owns 53 retail, industrial and office properties, 55,9% of which are in South Africa and the balance... read more
 
TEXTAINER GROUP HOLDINGS

17 - 08 - 2020

Textainer (TXT) is one of the world's largest lessors of containers with 3,5m twenty-foot-equivalent... read more
 
TFG
28 - 09 - 2020
The Foschini Group (TFG) is an international retailer of 28 fashion brands. It has outlets in 32 countries around the world. It has a division in London and one in Australia,... read more
 
TFSA
The TFSA was brought in in 2015 to encourage people to save. It is a savings account which attracts no income tax, capital gains tax or interest tax. Each natural person can have one TFSA into... read more
 
THA
09 - 10 - 2020
Tharisa (THA) is a mining company that mines and beneficiates platinum group metals (PGMs) and chrome. The company is listed in London and on the JSE. The Tharisa mine on... read more
 
THE MINERALS COUNCIL OF SA
Previously known as the Chamber of Mines, this organisation represents employers in the mining industry in South Africa. Its objective is to support and promote mining in this country. It was... read more
 
THETA
The measurement of the time decay of a position.
 
THINLY TRADED
A term used to describe a share which has a very small number of shares changing hands each day. The first criteria which a private investor should look at when assessing a share is its average... read more
 
THIRD WORLD COUNTRY
Originally, this meant a country which was not aligned to NATO or the Soviet Union during the cold war. First world countries were those aligned to NATO and America and second world were... read more
 
THL
15-07-2020
Tsogo Sun Hotels (THL) was split out of Tsogo Sun (TSG) in June 2019 and separately listed to house Tsogo's hotels and hospitality business. The company is a major supplier of... read more
 
THREE BLACK CROWS
A candlestick formation which signals the end of an upward trend. It consists of three consecutive downward candles (black or red) with long bodies, each lower than the one... read more
 
THREE BUDDHA TOP
A charting formation at the top of a cycle. The price chart forms three peaks the middle one of which is the highest. The "left shoulder" is generally reckoned to be where the "smart" money sells... read more
 
THREE MOUNTAINS TOP
A top reversal signal in technical analysis which signals the end of a well established uptrend. The formation occurs when the price chart of a share or another security forms three peaks at... read more
 
THREE RIVER BOTTOM
A technical analysis formation used to predict the bottom of a downward trend. Triple bottoms are quite rare in charting and they indicate a very strong base for upward movement. The pattern... read more
 
THREE TIMES VOLUME RULE
Probably the most important criteria for you as a private investor when looking at which shares to purchase, this rule requires that you assess whether a security has sufficient volume traded... read more
 
THRUST
A comparison between the price difference of successively lower pivot bottoms or higher pivot tops. For example, a reduction in the difference between pivot bottoms shows loss of momentum; an... read more
 
TICK
A short horizontal line off a bar chart showing the opening price (to the left) or the closing price (to the right).
(image)
TICK INDICATOR
The number of stocks whose last trade was an uptick or a downtick.
 
TICK SIZE
A short horizontal stroke on a bar graph showing the price at which the share closed.
 
TIER 1 CAPITAL
The equity and retained earnings of a bank. This is its best capital also called its "core" capital. Only 15% of this capital is allowed in terms of the Basel III... read more
 
TIER 2 CAPITAL
That portion of a bank's capital that consists of hybrid instruments, undisclosed reserves, revaluation reserves and sub-ordinated term debt. In terms of the Basel III Accord, banks... read more
 
TIGHT MONETARY POLICY
An individual on the Monetary Policy Committee (MPC) who is against reducing interest rates to stimulate the economy - the opposite of a "dove". The Central Bank... read more
 
TIGHTLY HELD
A term used to describe a share which has a very small number of shares changing hands each day. The first criteria which a private investor should look at when assessing a share is its average... read more
 
TIME AND SALES
Official exchange transcript of the prices at which a futures contract traded, as well as the precise times at which such trades occurred.
 
TIME SERIES
A data stream is any continuous flow of end-of-day financial data. The most common form of this is the end-of-day high, low, open, close and volume for each listed equity share. But there are... read more
 
TIME SERIES MOVING AVERAGE
A time series moving average is not really a moving average in the strictest sense. It draws a line which is the end of a regression line. A regression line is a line through a set of points... read more
 
TIME VALUE
The difference between the premium paid for an option and the intrinsic value. As the option approaches expiration, the time value erodes, eventually to zero.
 
TIME VALUE DECAY
A term which describes the fact that the time value of an option diminishes as the option approaches the expiry date. Time value decay follows a negative exponential curve, which is to say that... read more
 
TIP
If you talk about the stock market socially with your friends and colleagues at work, you will certainly get tips on what to buy and what to sell from time to time.� The person who gives... read more
 
TIP SHEET
A newsletter, which concentrates on giving its readers hot tips regarding which share to buy and sell and when to transact. Such letters should be followed with caution, and their advice used... read more
 
TKG
21 - 09 - 2020
Historically, Telkom (TKG) was the government-controlled provider of fixed line telephone connectivity in South Africa. With the advent of cell phones, Telkom was forced to... read more
 
TLM
01 - 10 - 2020
TTelemasters (TLM) is a company which supplies voice, data and cloud communications using fixed line, fixed cellular, fixed data and PBX services. It has three divisions -... read more
 
TMT
04 - 05 - 2020
Trematon (TMT) is an investment holding company with subsidiaries, joint ventures and associate companies, mostly in the Western Cape. The company also invests in listed and... read more
 
TOKYO STOCK EXCHANGE
The stock exchange of Japan. The Nikkei index of the 225 largest companies trading on the TSE gives a very good idea of the performance of this market. The TSE opens in the early morning South... read more
 
TOKYO STOCK PRICE INDEXES
A range of indexes (known as the Topix) weighted for the free-float market capitalisation calculated in real time by the Tokyo Stock Exchange (TSE). The broadest index is the Topix... read more
 
TON
23 - 09 - 2020
Tongaat (TON) is two businesses - land development and sugar. The company owns 17600 hectares of land of which 9100 hectares along the Natal coast can be developed. The property... read more
 
TOO LATE TO CANCEL
When a trader attempts to modify or replace an order that has already been executed but not yet reported as having been filled, the order is said to be too late to cancel.
 
TOP
The highest point on a share price or other graph over a defined period. Obviously, as a private investor, you will be trying everything you know to determine the moment at which a share's price... read more
 
TOP 40 INDEX
An index of the 40 biggest companies trading on the JSE. This is a weighted index for the market capitalisation of the companies it includes and their "free... read more
 
TOP DOWN
An approach to financial analysis which begins with a company's financial statements and attempts to assess how the company is doing based on what they contain. As opposed to a bottom-up approach... read more
 
TOP FORMATION
A term used in technical analysis to describe a formation at the top of a trend which signals that the trend is likely to change and become a downward trend. Examples of such formations include... read more
 
TOP REVERSAL SIGNAL
A term used in technical analysis to describe a formation at the top of a trend which signals that the trend is likely to change and become a downward trend. Examples of such formations include... read more
 
TOR
Torre (TOR) is an industrial company which operates through various divisions. Torre itself supplies a range of branded products such as Gabriel, Autolite, Textar and High-lift to companies in... read more
 
TOTAL CLIENT SERVICES LIMITED
03 - 01 - 2020
This company claims to be an IT company supplying software and administration services to municipalities and provincial governments. It has no active website and the share... read more
 
TOTAL EQUITY
Money balance figure calculated by adding futures open trade equity (the gain or loss on open futures positions) to cash balance.  
 
TOUCH POINTS
A touch point is a the point on a chart where the share (or other data stream) touches a trendline. The more touch points that a trendline connects the more reliable it becomes. Consider the... read more
 
TOURISM
An industry focused on supplying the needs of people traveling on holiday. This industry provides a wide variety of accommodation from hotels to camp sites and bed and breakfast establishments.... read more
 
TOUT
If you talk about the stock market socially with your friends and colleagues at work, you will certainly get tips on what to buy and what to sell from time to time.� The person who gives... read more
 
TOWER BOTTOM
A candlestick reversal signal which is the opposite of the tower top formation. The Tower Bottom, also call the Spike Bottom, takes form beginning with a long red candle followed by three or... read more
 
TOWER TOP
A candlestick top reversal signal formed at the top of a well established trend in an uncertain market. The Tower Top, also call the Spike Top, takes form beginning with a long green candle followed... read more
 
TPC
03 - 09 - 2020
Transpaco (TPC) is a small manufacturer of paper and plastic packaging. It is also involved in re-cycling. The problem with this share is that it is relatively thinly traded,... read more
 
TPF
14 - 08 - 2020
Transcend (TPF) is an Alt-X listed real estate investment trust (REIT) which specialises in residential property. It listed at the start of 2016, but is exceedingly thinly... read more
 
TRADABLE INDEX
An index which can be traded through some type of derivative contract such as a futures contract. Derivative instruments like futures enable investors to buy or sell various JSE indexes either... read more
 
TRADE
The purchasing and selling of goods and services both within an economy and internationally between economies. Goods and services are exchanged for money. For trade to occur, it... read more
 
TRADE ACCOUNT
This, together with the Capital Account make up the Balance of Payments. The Trade Account shows the country's exports minus its imports - are we selling more to overseas people than they are... read more
 
TRADE AND OTHER PAYABLES
Amounts owing to the company's creditors in the balance sheet. These appear under current liabilities. These amounts are owed by the company in the short term (normal... read more
 
TRADE DEFICIT
A trade deficit occurs on the trade account of the balance of payments (BOP) when imports are greater than exports. Imports are usually a function of activity levels in the... read more
 
TRADE SURPLUS
The trade account shows the value of South Africa's merchandise exports minus its merchandise imports. If the exports exceed the imports during a particular period, then the account is said to... read more
 
TRADE UNION
The trade union movement in South Africa has become a major force since the advent of democracy in 1994. The union movement was an important component of the ANC's gaining power and the labour... read more
 
TRADE-WEIGHTED
A term used to describe the strength of a currency based on its relationship to other world currencies in proportion to that country's trade with them. Thus the rand can fall against the... read more
 
TRADEABILITY
The ease with which a share can be traded. Some shares are free-dealing and highly tradeable, others are tightly held.
 
TRADEHOLD LIMITED
26 - 05 - 2020
Tradehold (TDH) is a real estate investment company with property in the UK (42,7%) and Southern Africa which is 48% owned by Christo Wiese. 40% of its assets are in the UK... read more
 
TRADER
An individual who trades securities with a relatively short-term horizon. Most securities can be traded on an organised exchange and a trader is trying to make a short-term speculative... read more
 
TRADING ACCOUNT
The first account in the profit calculation where a company's variable (also called direct) costs are subtracted from its turnover (sales plus other incomes). A variable cost is one which goes... read more
 
TRADING ASSETS
Usually taken as the company's debtors and stock - in other words, the assets which are normally tied up in the direct running of the business.
 
TRADING BANDS
Lines plotted in and around the price structure to form an envelope, answering whether prices are high or low on a relative basis and forewarning whether to buy or sell by using indicators to... read more
 
TRADING DAY
A normal business day during which trades can be made on the JSE - usually from 9am until 5pm. There are approximately 250 trading days in the year and 22 on average per month. End-of-day's data... read more
 
TRADING DENSITY
A term used to describe the ratio of sales to floor space in shopping malls. Real estate investment trusts (REIT) that own shopping malls watch the trading density in those shopping malls closely.... read more
 
TRADING FLOOR
A large room where stockbrokers gather during specific hours every working day to trade shares and other instruments on behalf of their clients and for their own account. There are very few trading... read more
 
TRADING IDEA
A strategy for making money from an investment. This can be as simple as buying a share which you think is going to go up, to complex strategies involving the use of derivative instruments and... read more
 
TRADING PARTNER
This refers to another country with whom trade relations have been established. South Africa has many trading partners, but the main ones are the UK, Europe, America, Japan and China. The volume... read more
 
TRADING PLATFORM
A website through which orders can be placed to buy or sell shares by a stockbroking firm's clients. To open an account with a stockbroker it is necessary to complete a mandate.... read more
 
TRADING RANGE
The difference between the high and low prices traded during a period of time; in commodities, the high/low price limit established by the exchange for a specific commodity for any one day's... read more
 
TRADING STATEMENT
Listed companies are required by the JSE rules to publish on the Stock Exchange News Service a statement which gives an indication of their financial results which are about to be published.... read more
 
TRADING STRATEGY
A pre-determined concrete plan for buying and selling which does not rely on any abstract or subjective input. So, for example, you may decide to buy a certain share when its price moves above... read more
 
TRAILING STOP ORDER
This special order type allows the trader to profit from favourable movement in the market while having the protection of a Stop order. But it frees the trader from having to constantly monitor... read more
 
TRANSACTION TIMING
The exact point in time when the purchase or sale of an investment is executed. Transaction timing can have a significant impact on the profitability of an investment. In an investment,... read more
 
TRANSFER AGENT
Financial institution that manages ownership records of company stock.
 
TRANSFER DEED 
A form required by the Companies Act (71 of 2008) for the transfer of shares (and other securities) from one person to another. This form is also known as a CM42. The form... read more
 
TRANSFER FORM
A form required by the Companies Act (71 of 2008) for the transfer of shares (and other securities) from one person to another. This form is also known as a CM42. The form... read more
 
TRANSFER FUNCTION
The mathematical relationship between the output of a control system and its input for a linear system, it is the Laplace transform of the output divided by the Laplace transform of the input... read more
 
TRANSFER PAYMENT
A government payment where no goods or services are given in return. For example, in South Africa the old age pension and child pensions are examples of transfer payments.
 
TRANSFER PRICING
A method of moving profits out of a high-tax regime into a low tax regime, used by multinational companies with subsidiaries or business interests in a variety of countries. By selling product... read more
 
TRANSFER SECRETARY
A transfer secretary is responsible for maintaining a company's share register and ensuring that it is always kept up to date. They also assist with the paying of dividends... read more
 
TRANSFORM
A process to change or convert. For example, a simple moving average is a filter to reduce noise; the moving average is the transform function.  
 
TRANSMUTED LISTING STATEMENT
A statement which must be published by a listed company when it undergoes a major change such as a reverse takeover, a change of control or a major acquisition... read more
 
TRE
06 - 04 - 2020
Trencor's (TRE) primary asset is 47,78% of Textainer, a US listed renter of shipping containers (Twenty-foot units or TEUs). It should be noted that Trencor spent R100m buying... read more
 
TREASURY
The National Treasury falls under the Ministry of Finance and is established in terms of section 13 of the constitution to manage the government's finances. Through the Treasury the country's... read more
 
TREASURY BILLS
Instruments for short-term borrowing employed by governments. The bills are issued by tender to the money market. Usually, when economists refer to Treasury bills (or T-Bills as they are known)... read more
 
TREASURY SHARES
Shares of a company which it has bought back from shareholders. Treasury shares are normally destroyed, thereby reducing the number of shares which the company has in issue and so benefiting... read more
 
TREND
The general drift, tendency or bent of a set of statistical data as related to time. There are two types of primary trend - "bull trends" which are upwards and "bear trends" which are downwards.... read more
 
TREND DAY
A day in which the price of a futures contract moves consistently away from the opening range and does not return to the opening range prior to the close.
 
TREND FOLLOWING
Moving in the direction of the prevailing price movement.
 
TREND LINE
A line joining the high points on a bear trend and the low points on a bull trend. When the price breaks through the trend line this gives a trading signal. This is probably the simplest, but... read more
 
TRENDING MARKET
Price moves in a single direction, generally closing at an extreme for the day.
 
TRENDLESS
Price movement that vacillates to the degree that a clear trend cannot be identified.
 
TRI-STAR
A candlestick formation consisting of three consecutive doji candles found at either the top or bottom of a trend which signal the reversal of the trend. This is a very rare formation and should... read more
 
TRIANGLE FORMATION
A charting pattern that exhibits a series of narrower price fluctuations over time; top and bottom boundaries need not be of equal length. Trendlines are usually drawn along the upper highs and... read more
 
TRIANGULAR MOVING AVERAGE
A moving average in which each day's data are multiplied by a weight that increases in value at steady increments to a peak value and then declines to zero at equivalent increments. The sum of... read more
 
TRIN
Also known as TRading INdex (TRIN): An advance/decline stock market indicator. A reading of less than 1.0 indicates bullish demand, while greater than 1.0 is bearish. The... read more
 
TRIPLE BOTTOM FORMATION
A technical analysis formation used to predict the bottom of a downward trend. Triple bottoms are quite rare in charting and they indicate a very strong base for upward movement. The pattern... read more
 
TRIPLE TOP FORMATION
A top reversal signal in technical analysis which signals the end of a well established uptrend. The formation occurs when the price chart of a share or another security forms three peaks at... read more
 
TRIPLE WITCHING
The simultaneous expiry of equity options, index options and index futures. This occurs every three months on the 3rd Friday of March, June, September and December... read more
 
TRL
23 - 09 - 2020
Trellidor (TRL) is a manufacturer of barrier security products, blinds and security shutters since 1976. The company is divided into the Trellidor business (security barriers)... read more
 
TROY OUNCE
A measure of weight used with precious metals. A troy ounce is just over 31,1 grams. The name dates back to the 16th Century. An ounce used in America is about 28.4 grams. 
 
TRU
05 - 09 -2020
Truworths (TRU) is a clothing, footwear and accessories retailer that operates in Southern Africa and the UK, and is listed on the JSE and the Namibian Stock Exchange. It makes... read more
 
TRUE RANGE
The largest of the following: Today's high minus today's low, today's high minus yesterday's close, today's low minus yesterday's close.
 
TRUE STRENGTH INDEX
A momentum indicator developed by William Blau that double-smoothes the ratio of the market momentum to the absolute value of the market momentum.
 
TRUST
A legal persona which is established by a founder and administered by trustees on behalf of beneficiaries. In South Africa a trust is either inter vivos or testamentary. An inter vivos... read more
 
TRUSTEE
An individual or corporate entity that administers assets on behalf of other people (usually known as "beneficiaries"). A registered trust is required to have a founder and trustees.... read more
 
TSE
The stock exchange of Japan. The Nikkei index of the 225 largest companies trading on the TSE gives a very good idea of the performance of this market. The TSE opens in the early morning South... read more
 
TSH
04 - 06 - 2020
Tsogo (TSG) is a gaming, hotel and entertainment business which has split into separate gaming and hotel businesses in order to unlock shareholder value and to enable each... read more
 
TSOGO SUN HOTELS LIMITED
15-07-2020
Tsogo Sun Hotels (THL) was split out of Tsogo Sun (TSG) in June 2019 and separately listed to house Tsogo's hotels and hospitality business. The company is a major supplier of... read more
 
TSUTSUMI
In candlestick terminology, a multiple candlestick line pattern; a major reversal signal with two opposing-color real bodies making up the pattern (also referred to as a tsutsumi). An engulfing... read more
 
TSX
04 - 07 - 2019 Trans Hex (TSX) is one of the longest standing diamond-mining operations listed on the JSE with more than 50 years in the business. For most of its life, Trans Hex mined diamonds... read more
 
TTO
31 - 12 - 2019
Trustco (TTO) is a financial services group operating out of Namibia and controlled by its CEO, Dr. Q. van Rooyen who holds just over 50% of the shares. The company has three... read more
 
TULIP SECTOR
A sector that is the intense focus of speculators at the moment.
 
TURNING POINT
The approximate time at which there is a change in trend.
 
TURNOVER
A figure in the income statement of a company's financial statements which consists of the company's total sales or income figure.
 
TWEEZER BOTTOM
A bottom reversal pattern comprising of at least three candles and which signals the beginning of an upward trend. The Tweezer bottom requires that the last two candles in the formation have... read more
 
TWEEZER TOP
A top reversal candlestick formation consisting of three candles, the last two of which have the same, or nearly the same, highs. It does not matter whether these highs are shadows, bodies or... read more
 
TWENTY-FOOT EQUIVALENT UNIT
A twenty-foot equivalent unit (TEU) is a container of a standardised size suitable for international imports and exports. Millions of TEU's are transported around the world every day in... read more
 
TWIN PEAKS
This is a new regulatory environment for the banking and financial markets, first introduced by the then Minister of Finance, Pravin Gordhan on February 2011. In terms of the twin peaks model,... read more
 
TWO-WAY PRICE
When both a bid and offer forex rate is quoted by the dealer.
 
TWR
24 - 08 - 2020
Tower (TWR) is a diversified property company which owns 42 properties worth approximately R4,8bn in South Africa and Croatia (5 properties accounting for 37% of the portfolio).... read more
 
TXT

17 - 08 - 2020

Textainer (TXT) is one of the world's largest lessors of containers with 3,5m twenty-foot-equivalent... read more