Inverse C&H has formed on AMS over the last month and a bit. This has been the consolidation range as the downtrend seems to be coming to an end. We are seeing signs that the price is nearly ready to break up and out of the pattern. 7>21 Price<200 - But the price need to go back up as it acts as an elastic. RSI >50 Target R1,500 SMC Sell Side LIquidity Order...
AngloAmerican Platinum is flashing a bearish sign early into the weekly cycle, it could be leading platinum metal into a bearish trend. On the daily chart time frame we would have wanted price to not break the low on 22 November but as of today (14 December) price has made a lower low. The probable route now would be price action guided by the megaphone depicted...
Potential Cup and Handle is forming on the daily. We are seeing higher lows form and the supply side is dwindling. Once we get a break above the brim level, it'll be all systems go. 7>21 Price <200 - Bearish RSI>50 -bullish Target R1,644.61 SMC: Sell Side Liquidity order block has formed below the formation. Each time the price touches, it runs up. That's...
Anglo Platinum is down significantly from its all time high of R2675,38 and the 14% rally of yesterday has created some market excitement. Taking a look at the bug picture, the stock seems to be making a large (ABC) zigzag bear from the all time high. Wave (A) was a very large and extended impulse and wave (C) is also unfolding as an impulse. Wave (C) looks to...
AMS has formed a diamond pattern which has the possibility of breaking up (reversal pattern) or down (continuation pattern). The target zone just below is still open but i will be watching the shorter timeframes for clues of which way the break is likely to occur. Platinum price is also at a key level to watch 🧐
A price action above 102900 supports a bullish trend direction. Increase long exposure for a break above 108800. Target price at 117000. Stop-loss at 95200. Negate the long posiiton for a break below 102900. Based on implied volatility, it will take about 180 days to reach the profit target (which I doubt), but let us see if this might be true. Implied volatility...
Here is medium-long term shorting set up for those who are patient enough. Its Head & Shoulder chart pattern in play! I'm calling it 500!
Anglo American Plat has been one time framing down on the weekly. Target zone below still valid and we have what looks to be a head and shoulders as well which could take it back to covid low levels. NB: Relief rallies can and do happen.
AMS has sold off quite heavily breaking a few support levels to the downside - (1370), (1124) and finally (1050). Not even the blue TL held up. Stock might be overdone short term and could be worth a bounce at these levels for a medium term hold. Look to trade in the 1050 - 1370 range. Unfortunately seems to have free air below, so stop loss is a tough one....
JSE:AMS fell to the potential support level, as shown in a previously shared idea. NYMEX:PL1! is weak and PGM miners are receiving hands from that weakness. Will there be buyers here?
A bullish trend is applicable. The ideal entry price is as close to 28.3365 as possible. Increase exposure for a break above 30.1990. Target price is set at 33.8980. Stop-loss price is set at 27.4245. Time exit: 2 May 2023.
Since the highs in March 2022, Angloplat has corrected almost 50%. I am starting to become interested in this chart on a medium term basis for the following reasons: (1) Supported off 61.8% fib from Mar 22 and Mar 20 Highs and lows (2) Rising channel support (3) Has tended to consolidate under the 200WMA before reversing on a weekly time frame (4) 200wma still...
Bearish and Cautious on Platinum Stocks. There seems to be a Head and Shoulders Pattern forming. Trade Wisely. Regards. Graham.
NYMEX:PL1! miners seem to be under pressure, JSE:AMS bearing the brunt thereof. A close below R1360 opens a potential move to near R1150.
We've noted several PGMs turning bullish in the past few weeks, and we have an JSE:AMS position. At the moment JSE:AMS seem to be retesting the (rising) 200MA, if it find support there, the stock may continue to rise, especially if the sector is turning bullish. Other notable players are JSE:IMP & JSE:SSW (position)
A short has been triggered on JSE:AMS . We are looking at a target at the strong support level of around the R1250 level.
Inverse H and S on Amplats The break out of the neckline was strong and the MAs look good 7>21- Bullish. Price is testing 200MA but looks like momentum will help overcome it. Target R1,917.58
Impressive run on Amplats during past few weeks. We can target 1800 in the short term; but first, buyers have to push through the 200dma.