Impala Platinum's last 1 Month recovery has been stellar to say the Least.
Just goes to show that CONVICTION does Work for those that are Patient.
I've plotted the Fibonacci Levels to see where we could encounter possible Resistance.
As always, please get a few outside Expert's Advice before taking Trade or Investment Decisions.
Should you appreciate my Chart...
Remains a very risky trade.
The insert is the angle of the trend since the start of 2023.
The last part of the price action crossed above the angle trend line, hinting at a possible counter-testing.
Furthermore, a price action above 6800 supports such a bullish trend.
Further bullish confirmation for a break above 7300.
The target price is set at 7900 (its 50%...
Impala Platinum Holdings (Implats) ranks as the world's third-largest producer of platinum group metals (PGMs), navigating challenges including aggressive union actions and legislative uncertainties over the past seven years. The company's strategy, as stated by its CEO, focuses on developing a portfolio of long-life, low-cost, shallow, modern, mechanized mining...
See link below for previous analysis.
The bears re-emerged and took price below 6430.
My conviction was not great that this would be thee bottom.
This is the beauty with the EWP, you know when you are wrong.
An update of the wave count shows the decline from 10129 to 6430 as an ending diagonal for wave of wave 3 and the bounce as wave 4.
The entire decline...
mpala Platinum Holdings (IMP), commonly referred to as Implats, holds the distinction of being the world's third-largest producer of platinum group metals (PGM). Over the past seven years, the company has grappled with challenges stemming from aggressive union actions and legislative uncertainty.
The CEO has articulated a strategic focus on the development of a...
This stock is in a good position to give us some healthy gains. First we need to gain the internal structure going higher than 8400 at least, then hold 7700 to continue the move to 12000, else it will fail and create a new low, local to a higher time frame. But this spot is key at the moment, keep a close eye from tomorrow morning open...
See link below for previous analysis.
Impala traded below 7002 as anticipated from the last analysis.
The stock caught a strong bid at 6430, down 79% from the March 2022 high.
The move from 6430 looks impulsive even though it is relatively small but it can be wave (i) of a bigger correction or start of a new bull trend.
I am neutral to bullish on this one and I...
Implats has been on a downtrend for years.
Recently it's formed a falling Wedge. But it looks like the support level remains to be very strong for the bulls.
The price is back to the top of the channel and now we need a strong breakout.
The PLatinum market is looking bullish and if it follows through it will send many companies up. But we need that...
See link below for previous analysis
Impala has traded lower as forecasted and I have updated the wave count.
I am not convinced that 7002 is the low and with an alternative count, the entire move from 19068 to 7002 could be wave 3 as the current wave 4 looks very small.
I will not be surprised if Impala continues lower but I will sit on my hands and allow price...
Impala Platinum Holdings (IMP), or Implats, is the world's third largest platinum group metals (PGM) producer. It has been suffering over the past 7 years from aggressive union action and legislative uncertainty. The CEO says that they are focused "...on developing a portfolio of long-life, low-cost, shallow, modern, mechanised mining assets". This is similar to...
Impala Platinum has clearly been moving in a down channel.
It's failed to break the support level at R72.29.
This means, we could be getting some buying momentum and demand, which will drive the price up.
I would wait for a solid breakout above the channel, which will signal a more promising buy.
Then my next target will be R128.76
Impala Platinum could be printing an Inverse Head and Shoulder Pattern as seen on this simple line Chart.
I trust this plays out for those Invested, as we all look for some good news.
Use your own discretion when Investing and get Expert Advice.
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Regards Graham.
To think that in January 2023, IMplats was trading at R235.52.
Today, in November we're looking at R73.12.
And yet, it's been an imperceptible downward journey, that even I am too embarassed to realise today.
Hindsight is a Biscuit!
Well anyway, the new downward channel is showing more downside to come with volatile (jumpy) highs and lows which can easily...
Impala Platinum Holdings (IMP), or Implats, is the world's third largest platinum group metals (PGM) producer. It has been suffering over the past 7 years from aggressive union action and legislative uncertainty. The CEO says that they are focused "...on developing a portfolio of long-life, low-cost, shallow, modern, mechanised mining assets". This is similar to...
Impala Platinum Holdings (IMP), or Implats, is the world's third largest platinum group metals (PGM) producer. It has been suffering over the past 7 years from aggressive union action and legislative uncertainty. The CEO says that they are focused "...on developing a portfolio of long-life, low-cost, shallow, modern, mechanised mining assets". This is similar to...
Following on from a previous post: Impala did not manage to move higher from its oversold levels and, at one point, staged a promising bounce after temporarily breaching 90 to the downside.
Currently, the price has still failed to break its downtrend and as a result, the almost once doubtful level of 70 is now within sight!
Levels to look out for on the downside...
Impala platinum mines is hovering just above the COVID closing prices, indicators show that price is stretched to the downside while volume shows buyers stepping in around an area of value. The blue line represents the confirmation of a weekly cycle low when we close above it, the green line represents the yearly trendline when we close above it we have confirmed...
Not the first time in history this R80-R100 zone on impala has formed some solid support. Given the reversal candle forming here.. my odds favour a move higher here over the medium term
