Perhaps tume #JSEANG to take a breath? Its reached the top of the channel after breaking through a monthly down trend line.
Expecting a pull back of some sort.
Big gap to fill at the bottom, and earnings out in Feb.
Jseang
#JSEANG short idea Price bounced off a multi month down trend, will wait for it to break out of immediate short uptrend to signal short, then go down and close gap.
Potential Long Setup forming I've always liked Ang - but with all the challenges businesses in SA face, and global drama it seems like a long-term downtrend will never end.
And with current market uncertainty - it's a true fruit salad. That being said... this is what I see - please feel free to correct/teach me if you see I'm missing something.
Very short-term:
* Double bottom on the 4h chart - currently sneeking past a daytime downtrend (Needs to close above the 23 500+ mark i feel to really set the trend change in stone)
From there:
Light Blue Downtrend line
Gap up 25 000
Gap up to 32 289
Gap up 34 500
** I'm sure each step up would provide its own resistance... but if you are prepared to give it some time, this has some potential I think.
PS - not financial advice :)
$JSE-ANGJSE:ANG
Tested last break higher and making massive engulfing bar
Long here with SL bellow today's low of the day
JSE:ANG AngloGold Lots StrengthAngloGold has been the strongest stock of the gold miners and the strength continues. There have been some reaccumulation ranges that have formed. The latest range has been an upsloping range with institutional buying on the way up seen by the increased volume on the increases. We have seen a spring and break of the recent TR with volume pushing it along. Negative divergence points to effort to push the stock down but with no response due to institutional buying. Good times for ANG.
JSE Gold Stocks at Decision PointThe price of gold has been in consolidation and looking weak. It is now testing the yearly pivot point. The JSE stocks have been reflecting this weakness with Harmony showing the most weakness. If the gold price breaks the yearly pivot point we could see quite a bit more downside. But it is holding and a break to the upside could mean an extension of the consolidation area. Watching for price action in the week ahead.
JSE:ANG Anglogold Climatic ActionAfter a strong markup out of the accumulation trading range, there have been two steppingstone re-accumulations. The markup has broken the initial increasing trend channel and has now formed a steeper channel. Last week though we saw a climatic bar on volume and a strong reaction of the highs. There is divergence with the volume RSI. This indicates that a trading range is likely to form. After completion of the Automatic Reaction (AR) we will look to see a Secondary Test (ST) of the highs and then watch how the trading range develops.
JSE Gold Stock ComparisonGold stocks have been a leading sector in the Resources Sector. Currently, there has been some climactic action and I am expecting some consolidation. However, once the consolidation has completed which stock to take positions in on the next swing. Comparing the relative strength of ANG, SGL, HAR and GFI we see that ANG is the leader of the pack. GFI has also been strong in the latter part of 2018 but has some weakness in the background.
$JSEANGJSE:ANG
Making cup and handle if confirmed target around 20000 some 40% upside potential from here
ANGLO IS TRADING AT A KEY LEVEL - EXPECTING UPSIDEAngloGold Ashanti is an internationaly acclaimed gold mining company with a geographically diverse and world-class portfolio of operations and projects. Headquartered in Johannesburg, South Africa, AngloGold Ashanti is the third largest gold mining company in the world, measured by production. The company was established in 1998 when the gold and uranium interests of Anglo American Corporation of South Africa were consolidated.
The group has 17 gold mines in 9 countries, has several exploration programs in established and new gold producing regions and is listed on 5 stock exchanges, including its primary listing on the Johannesburg Stock Exchange (JSE). Operating regions include South Africa, Guinea, Mali, Ghana, the DRC and Tanzania, as well as South America and Australasia.
Weekly: We can see an impulse on the left of the chart and then a 3 wave corrective structure which broke to the upside. While there may be an interim pull back in price, I have a final target of 45000 - 47000 on the second impulse on the weekly time frame.
Daily: Price is trading very close to the bottom of the daily structure. This is an important level as price could go either way from here. Should the structure break to the downside, a smaller confirmation structure will confirm the downside. Should there be a reversal, I am confident that wave 5 to the upside will complete at the weekly impulse target.
JSE:ANG AngloGold Breakout and TestAngloGold has been in a very week down and has developed a base.
We see the following volume signature:
- a high volume Selling Climax (SC),
- a Spring with Signs of Strength in the uptrend,
- a high volume test,
- followed by a low volume test indicating supply has dried up,
- negative divergence with OBV and price at the spring and low volume test as confirmation,
- then the markup in Phase D started, and
- the backup to the trading range.
After this action the expectation is for the Markup in Phase E to start. Looking for the first area of resistance to be at the Yearly Pivot.
$JSEANGJSE:ANG
Trying to break from consolidation.
First target should be around 16000
Ultimate target around 19000/19500
$JSEANGJSE:AGL
Made nice cup waiting for handle to be made and break out.
Massive upside potential if it plays out.
