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Kumba Iron Ore LimitedKumba Iron Ore LimitedKumba Iron Ore Limited

Kumba Iron Ore Limited

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KUI trade ideas

KIO showing another bearish setup $JSEKIOKumba has been trading below it's 200 day moving average for the last 4 months and we have noticed most of the shorter term moving averages trending down and trading below this 200 day. This is evidence of a bearish trend and should see the stock move lower over time. We have recently tested the 200 day ma @ 286 and seen a quick rejection in price. We are trading in a bearish channel and will be looking for a close below the R275 support level to confirm the break down. Also interesting to note is that the Stochastic indicator is showing bearish divergence with the indicator having made a lower high, even though price made a higher high on the daily. Target of this move should then be R235.
JSE:KIOShort
by MarcoOlevano
$JSEKIO Kumba iron ore - has this rally gone too far too soon?Haven't called this stock too well this year, however after the magnificent rally we have seen of late, the stock may have gone too far too soon. Firstly if you look at purely the candlestick formation after today's trade, we are possibly witnessing the formation of an evening star reversal formation (tbc tomorrow). Secondly, we are starting to see volume evaporate on the move higher which is a possible clue that buyers are no longer interested in chasing price at such levels. Thirdly, we are starting to see some bearish divergence on the RSI (price has made higher high, not confirmed by a lower high in the RSI indicator). Watch for a possible reversal here. Price very very extended from major moving averages, so consolidation/correction very likely from here.. Would hope to see at least R400 on a shorter term pull back
JSE:KIOShort
by MarcoOlevano
Kumba trading at bottom of channelAfter creating a high of R414.90, Kumba turned bearish between January and April of last year reaching a low of R259.21. From there the stock has been trading flat, sticking predominantly to a range with a top at R325 and bottom at R260. Kumba recently looked to break below support but it turned out to be a false break and price quickly re-entered the range. With the stock currently trading at the lower end of the channel, I will definitely be going long with the aim to exit the trade when it nears the top. Action: Place a Limit order to BUY at R273.00 with a Stop Loss set at R253.00. I will aim to take profit at R295.00 and R325.00 respectively. Margin: 20% Gearing: 5.00x Gain: +95.24% Risk: -36.63%
JSE:KIOLong
by UnknownUnicorn3689126
Waiting For The Pull Back To Get LongKumba Iron Ore is a South African iron ore mining company and a subsidiary of Anglo American. The company is the largest iron ore producer in Africa and the fourth largest in the world. Kumba is a mining group of companies focusing on the exploration, extraction, beneficiation, marketing and sale and shipping of iron ore. Kumba produces iron ore in South Africa at Sishen and Kolomela mines in the Northern Cape province. Technicals I am expecting a pull back to form a larger corrective structure as indicated in blue. Once wave 3 breaks the low of wave 1, I will be looking for reversal signs in order to trade the long.
JSE:KIOLong
by Linton_White