After the attempted breakout i believe there will be longs trapped here after the hawkish FED last night. Platinum is also up against overhead resistance.
Expecting a down move towards the gap below and probably could even test the consolidation base .
A daily close above R1530 negates the bearish view.
Amplats has been going sideways for a little while now, trading in a clearly defined consolidation range. Ideally we would like to see a breakout of this consolidation, with a move towards its 200DMA, around R1607,00. Of course, we never pre-empt any market, we always wait for the price to confirm a breakout, either way.
Over the short term, and on a technical basis, Anglo American Platinum ( JSE:AMS ) appears to be trading near a 'oversold' range vs Impala Platinum ( JSE:IMP ). On this basis, from a market neutral perspective, I consider a long (buy) position in AMS vs a short (sell) position in IMP.
The two shares have a high historical correlation however the recent trend (...
Our 3 momentum indicators have all crossed downwards on JSE:AMS signaling a good time to enter a short position. The target is at the strong support level at around the 160000 level.
The last 3 days of the past week was quite bearish. With a reversal pattern of a bearish engulfing candle. I think the market is about to shake of it’s first set of “weak hands”. With bullish conditions I think the reversal pattern is as a result of a stale bulls from the commodity super circle boom seeing profits for the first time since March 2021. Some people...
The stock broke the R1921 resistance. Raised my stop loss to R1762 reducing to -1.06%. I have a R2231 target on the stock. Rising commodity price is the wind need to to support the breakout and the golden cross
During the last quarter of 2021, my only offshore pairs trade idea was Long Micron Tech(MU)/Short Advanced Micro Devices (AMD).
Since then (Monday, 15 November 2021) the performance has been as follows:
MU/AMD +38%
Nasdaq Composite: -14%
Pair Outperformance vs Nasdaq Composite: +52%
In a market that's down, considering a pairs strategy reduces the need to...
This morning I mentioned to you that I only have 1 LOCAL pair (market neutral) idea as part of my research report. That idea, published at 07:02am (before the SSW SENS) was a buy/long on AMS vs a short/sell on SSW. Original slide attached on the left.
As noted: "In terms of single stocks, one of my ideas is a local pairs (market neutral) trade idea from the...
Yellow arrow pointing to bullish engulfing candle stick. We will see AMS moving upwards, for the weeks to come.
Targets:
1. R192
2. R225
Remember this is my opinion and always DYOR before investing.
