HMY/N trade ideas
SHORT $HMY. Taps resistance of 3-month pump. It looks like a 3-month pump. The past history shows retraces 60% to 80% based on previous month's of price action. At the moment, it has tapped the Strong Resistance of $4.25 and surpassed Minor Resistance before that, at around $3.60. $3.60 has now become the new support, which must be breached in order for us to follow through and Sell Short at around $3.40 B/E. If the Fed raises interest rates in April and strengthens the dollar, Gold will be affected inversely. I am looking to capitalize on this dump if there are shares to borrow. BTC @ $2.00, $HMY float is 372M. The price will probably consolidate around this area after the Bulls and the Bears battle it out.
This HMY Stock is showing relative strength compared to Gold....This Stock has had a massive run up as the price of Gold has moved higher. Typically this market retraces 60% to 80% based on years of price action monitoring. Strong Resistance can be found at 4.28 area, which so far has been respected. Minor Resistance before that at 3.62 which is now support must be breached in order for us to follow through and go Short at 3.39. From the high at 4.28 we will go with the 60% retrace and take profit at 1.95. Price's will probably consolidate around this area whilst the Bulls and the Bears battle it out. I will be tracking it carefully, looking for a level to go Long at some point in the future.
Harmony Gold (HMY) - DailyI'm layering in orders at retrace levels indicated. Note the % differences. This is a HIGH RISK strategy if anyone were to follow me. A much safer entry is after a 3-wave retrace to support as indicated, followed by taking out the 4.18 high. That said, there's no guarantee of a retrace at all, or certainly not of a deep retrace.
Red line indicates the initiation of the supposed Ending Diagonal to - again supposedly - end the long-term decline.
Trade safe. Capital preservation is paramount. DO NOT RISK MUCH on high risk entries.
Harmony Gold (HMY) - DailyHarmony has reacted strongly off the Nov '14 low of what appears to be an Ending Diagonal. The move was almost 700% in under 4 months. Unreal. Price has retraced near the start of the ED - fairly common - and may offer a retrace . I'll buy anything in the blue box. Layering in limit orders as indicated on hourly chart.
Harmony Gold Mining Daily (12.09.2014) Tech AnalysisThe Harmony Gold Mining (HMY) Daily Diagram Technical Analysis Training shows the following:
The (HMY) share reacted yesterday making a bullish engulfing that we expect a confirmation today. Yesterday, at the end, almost all Gold Mining Shares turn upside. RSI is oversold. MACD is bearish.
The share is under the KUMO, the Kijun Sen and Tenkan Sen too (bearish). In addition it is under EMA 200.
As you can see on the diagram HMY until today had found strong support at this level.
All are bearish but be cautious about the share and the XAUUSD for a reversal.
Harmony Gold Mining Daily (19.06.2014) Tech AnalysisLooking at the Harmony Gold Mining (HMY) Daily diagram we found a possible divergence in MACD.
The stock has lost the Gold rally until today.
The Fib shows that the $2.68 is the 0.236 of retracement.
I think that after the JPMorgan's upgrade to overweight the Stock has seen the bottom here.
The harmony of a positive divergence on a falling knifeHMY @ 1998 lows. One of lowest p/b among peers. Beta 0.11
Weekly chart starting a positive divergence RSI right on the median live.
GC/HMY ratio @ ATH showing itself a negative divergence (not shown here).
$HMY closing at NHOD right on a summer 1999 analogyGiven:
1-Gold Shorts Covering At Fastest Pace In 13 Years
2- Mkt flooded with demands for physical coming from Asia
3-the head and shoulder inverted about to b/o
4-the strong correlation with GC
Risk: stop on the head
$HMY weekly chart still way oversoldBottom spotted on purple Schiff's parallel
Note 2005-2008-2013 years fibo bottoming progression
Long term blue parallel test matches w/ 144 sma
*spread w/ gold hinting oversold levels
