Lester_Davids

Anglo Platinum Now Lower By Over R800 or -40%

JSE:AMS   ANGLO AMERICAN PLAT LTD
AMS now down by over R800 or -40% from my 'portfolio SELL idea' on 21 March 2021.

My comment at the time (via my research and the original attached idea) was as follows:

"Anglo American Platinum ( AMS , 211542c ) |Long Term Overextended To The Upside | If you've held this name in a long term portfolio for the last 5 years, should you be selling? Yes. From it's January 2016 low of R156 to it's March 2021 peak of R2224, the share is higher by over 1300% and technically, it appears overextended: (1) the price is ~226% above it's 50-month exponential moving average . (2) although strong, the RSI has developed it's first lower high. (3) in December 2020, we saw the price breach resistance of it's multi-year swing highs (May/June 2008) and (Dec-2019 to October 2020). Often a share will perform a back-test of the breakout level, which could see the share retrace to R1500.Chart Time Frame: Monthly #TradingPlan #KeyLevels "

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