unclecool787

A Turn in the Platinum Miners? Part 2 - NHM

JSE:NHM   None
Given the weakness in the platinum miners and resource stocks in general in the last few weeks, it takes some bravery/optimism/fondness for punishment to start nibbling at long positions.

Some resource stocks, and platinum miners in particular, are tilting bullish . Same as the related idea on JSE:IMP , with JSE:NHM :
- Golden cross & bullish confirmation on 1D MACD
- Start of bullish divergence on weekly MACD
- On Weekly: Crossed 5EMA and heading towards 15EMA
- On Daily: Crossed 5EMA & 15EMA, and 5EMA is threatening 15EMA cross.

What do you think - bottom in? Looks like a reasonable risk reward trade if you keep your stops tight. I'm looking to enter at R226 (i.e. waiting for slightly more directional confirmation before entering) with a stop at R217, target R253 ... 3:1

UC