HMY/N trade ideas
Harmony GoldHAR breaking out of a bearish technical set up on the daily chart. Also flirting with the psychological 'last defense line'; the 200dma. If confirmed, 1st target will be 45 followed by 40
Harmony buy Swing trade with 3 possible entries.
Taken 1st Buy on 05 Jun-20 @ 15:50 with price of 5050
RSI on 240 minute oversold
RSI divergence possible
jse:har Harmony Gold UpsideHarmony Gold has come down 27% since last week's price of R72.
Case for short term upside in Harmony Gold:
Harmony closely correlates to the Rand Gold price.
1. DXY Dollar Index is extremely oversold on the RSI, way off its 50-day moving average together with a big perfected TD 8 0f 9 candle which indicates a potential turnaround candle tomorrow. This inherently means a potential weakening of the Rand.
2. The Rand itself is currently at its .618 Fib "Retracement level and also in extreme RSI overbaught levels.
3. Harmony Gold has turned around at R51.50 which can be argued is because of great support as the Volume Profile indicates extreme volume levels between R49 and R50.
HARMONY - RSI divergence on Daily (20 May)Price made highs around R74 before stalling
RSI divergence evident on Daily chart
Price stayed higher or equal, whilst RSI moved lower as marked by ! & 2 on the chart.
Current price is around R69
1st Target is price below R55
JSE:HAR Harmony Lagging in a Strong SectorHarmony is being pulled higher by the sector. However, there has been a significant volume in the stock indicating buying even though it may be lagging gold stock to be bought. With gold on the move, it could be time for Harmony to follow higher.
Keep Gold mining stock in your watch list!Keep it in your watch list for a 20-25% gain in less than 3 months!
JSE:HAR Harmony Spring?Harmony has had a large pullback but if we look at a lower timeframe we have a possible spring forming. Volume has increased as price reached the previous breakout level. There are better gold stocks to consider but it looks like even Harmony could take the next step up.
JSE:HAR Lagging in a Strong SectorHarmony Gold has been the weakest of the gold stocks (see post below). Even after good rallies in the other gold stocks, Harmony has still not broken out of the trading range. Even thou it does not seem to be the first choice there is high volume indicating buying and price is getting ready to break out of the range.
JSE:HAR Harmony the weakest of the gold stocksAll the gold stocks are actively being marked up (See posts below) but Harmony is only now starting. It was able to break the above the yearly pivot point and 200 day SMA today only. Anglo Gold ( ANG ) for example has already broken above the accumulation trading range but Harmony is only now completing the Spring and test of the spring.
HAR consolidationHAR long Consolidation faze
expected correction and completion
of Cup & Handle Trade signal
HARLooking to buy the pullback , could be to the 50 Fib as we have the divergence already impulse shows completeness
$JSEHAR - D/bottom or b/flag (Hr)JSEHAR - looking at two chart setups, one +ve the other -ve
D/bottom, looking for 4410 to be taken out to confirm with TP of 5533
B/flag, 3283 needs to be broken on the downside to confirm
$JSEHAR - Rectangle back in play$JSEHARs 6% decline the prev session pushed the price back in the 6month rectangle ff the b/o in late Feb 20.
I am looking for a bounce this morning with 5864 serving as resistance
Harmony gold Breakout $hmyBreaking from Congestion phase.
$5.00 upside target
Harmony Gold Mining Co. Ltd. engages in mining and exploration of gold. It involves in building mines and open-pit operation, sales and financial management, and land rehabilitation and mine closure. It operates through the following segments: Tshepong Operations, Moab Khotsong, Bambanani, Joel, Doornkop, Target 1, Kusasalethu, Masimong, and Unisel. The company was founded on August 25, 1950 and is headquartered in Randfontein, South Africa.
$JSEHAR Harmony. For the CowboysBig consolidation break today and the share is up 13%. Possible target for this flag is 7600. Maybe wait for a bit of a pullback before entering into this ?? For the cowboys among us only. No position for me, but will wait for dip buying opportunities. Speculative.
