The stock is in what seems to be a Head and Shoulders pattern with the right shoulder still in formation. The break below R500 will confirm the pattern and the next key support area is around R200. The JSE Top 40 index has already confirmed a Head and Shoulders pattern. Yesterday's post of this setup wasn't clear.
We are getting what seems like a Head and Shoulders pattern forming, a break below R500 will confirm the pattern. The next key support is at R200. The JSE Top 40 has already confirmed the Head and Shoulders with a break of the neckline, AGL seems to be following suit.
We are seeing what looks like a Head and Shoulders pattern in formation. A break below R500 will confirm the pattern. The next key support is at R200. The JSE Top 40 has already confirmed the Head and Shoulders pattern, this giant seems to be following suit.
Continuing my research for this coming Monday's report. This is a slide I'll be including: JSE Sectors Equally Weighted applied with a 2 Standard Deviation, 50-day Linear Regression Channel (will most likely add more metrics for context). Upper Range = Approaching ST Overbought/Expensive. Lower Range = Approaching ST Oversold/Value. 1st Panel. Top Left is...
JSE:AGL has broken out of the sideways consolidation area that it has been trading in since the end of July. With the breakout the price action has triggered a possible short position that we will enter into if the price continues downwards.
While until a few days ago my lines on $JSEAGL (Anglo American PLC) looked more like a wedge, it is now taking the shape of a flag. As it seems the awaited Wave 3 down for all markets is now busy starting, this counter could be in for a horrible time when looking at the long flag pole on the left upper side of the flag. I do have another published target of closer to R400.
A bearish 'rising wedge' technical pattern breaking for a potential move 480.
AGL finding good resistance at the top of its bearish channel, it can still go up to test the 200/100 DMA zone before seeing further downside
- The resistance at R600 / 50 day moving average is proving to be the level to break - Price retesting the 20 dma , bulls will want to defend R545-R560 or risk another move down to test the lows -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
An insight/chart which I will be publishing tomorrow as part of my research to clients. For more research, including trade ideas, get in touch today. Anglo American Plc (AGL) | Pending cup and handle technical formation. On Friday the share printed a bearish engulfing candle however, similar to the prior structure, we could see a retrace before potentially...
Anglo is at an important area which will dictate the next possible leg. While price stays above R536 on the daily, a possible counter trend pullback is possible to test R590 or higher... A break below opens the gates to R460 Consequently copper is close to a key bounce area of 3.18 which will help this counter if it finds support Note: Price is below the...
Original idea attached. Published this at 607.03 on Thursday. Went to 593.00 on Friday and then to 635.00 this morning. It's called....PAYtience:)
Anglo American has pulled back to a major area of interest where buyers may appear Price action on the lower time frames may give an opportunity to get into a position for a long swing trade Alternatively price will need to confirm support/reversal on the daily. -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial...
AGL - you'll recall this was a previous sell (see attached). I think it's getting close to a 'reversal buy' with the share trading in oversold territory. OVERSOLD + Potential Countertrend Bullish Reversal (1) Testing and finding support at lower boundary of channel (2) Emerging from an oversold range (3) Potentially starting to find and build an ultra short term...
Original Sell Idea Attached. Short/sell idea now -8% or 6000c lower. Traded slightly higher in subsequent days then started to fade. Big moved lower today and Friday.
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- I recommended buying the pullback to 64800c - Then again at 67400c - Expected a minor retracement at 72300c. - We saw some, then it continued Higher. - Is the current level near to where it Retraces? Here’s what I’m seeing: - Price at 61.8% bearish Fibonacci Retracement + near overbought with a +70 7-day RSI reading. - Sell plan | if it fails to hold the prior...
another diamond company that I follow- for atleast 5 years now-- besides lucara diamonds just post some charts watching the 15 minute windows--over tomorrow and next week hoping to make some trades- and raise the prices. For their firms and accountants. not to mention the stock owners.