A Turn in the Platinum Miners? Part 2 - NHM
Given the weakness in the platinum miners and resource stocks in general in the last few weeks, it takes some bravery/optimism/fondness for punishment to start nibbling at long positions.
Some resource stocks, and platinum miners in particular, are tilting bullish. Same as the related idea on
IMP, with JSE:NHM :
- Golden cross & bullish confirmation on 1D MACD
- Start of bullish divergence on weekly MACD
- On Weekly: Crossed 5EMA and heading towards 15EMA
- On Daily: Crossed 5EMA & 15EMA, and 5EMA is threatening 15EMA cross.
What do you think - bottom in? Looks like a reasonable risk reward trade if you keep your stops tight. I'm looking to enter at R226 (i.e. waiting for slightly more directional confirmation before entering) with a stop at R217, target R253 ... 3:1
UC
Some resource stocks, and platinum miners in particular, are tilting bullish. Same as the related idea on
IMP, with JSE:NHM : - Golden cross & bullish confirmation on 1D MACD
- Start of bullish divergence on weekly MACD
- On Weekly: Crossed 5EMA and heading towards 15EMA
- On Daily: Crossed 5EMA & 15EMA, and 5EMA is threatening 15EMA cross.
What do you think - bottom in? Looks like a reasonable risk reward trade if you keep your stops tight. I'm looking to enter at R226 (i.e. waiting for slightly more directional confirmation before entering) with a stop at R217, target R253 ... 3:1
UC
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.