$JSEAMS - Potentially forming a rising wedgeRising wedge would be bearish for the stock. Keeping an eye out to see how this will play out.
AMS trade ideas
$JSEAMS DAILYAnglo Platinum is at the top of a rising wedge on the DAILY. It was unable to hold a break at the end of last month and fell back to the bottom support. Can it break above and hold this time? A rising wedge is generally a Bearish pattern so if it fails to break and hold above we expect it to break through the bottom and for price to fall. Next week will tell us more!
AMS - lining up for a more severe correction?A conflux of technical indicators pointing to a bearish bias.
If the share will not be finding support around 80500 (lower range of inclining channel) then further downside may be possible.
Crossed below its 8-day simple moving average. First crossing in the last 12 days.
Crossed below its 13- and 21-day simple moving averages. First crossing in the last 10 days.
A bearish crossover on its ParSAR. First crossing in the last 9 days.
Heikin-Ashi bearish crossover.
Linear regression bearish crossover.
MACD bearish crossover.
Increasing downside momentum.
Potential downside targets: 79000 and 73300.
Negate current view for a price action above 88400.
Time to exit: +/- 26 September 2019
AMS | Expecting little support, down to 56000Currently trading at 68820c a share and having broken the parabolic up-trend that started in April 2018, we find Anglo American Platinum looking vulnerable.
Shorts favoured all the way down to 56000, with some potential profit taking at 64000 on the way down.
AMS - Morning Star ReversalJSE:AMS has formed a morning star pattern at a support level. We can anticipate a small upward move.
$JSEAMS Hourly feeling ready to break lower Close below R820 targets R780 - then a close below R780 targets R655
AMS Piercing line JSE:AMS has formed a piercing line at a support level. This could signal an upward move.
Amplats - Top heavy After a solid rally, we turning bearish in Amplats as the stock fails to meaningfully break above the resistance located at R 870.00. All momentum indicators suggest a trend reversal and we propose shorting the shares in anticipation of a strong trend reversal.
Two Orphans?We might see the stocks dropping massively if we are gonna follow the 2 orphans setup, which we are now completing the right orphans!!
JSE:AMS Anglo American Platinum Re-accumulation Trading RangeAnglo Plat has had a good run but has now started to form a trading range. I have been following the accumulation of Anglo Plat since 2018 (See post below). It has had a great run after breaking the accumulation trading range (TR). We have seen a buying climax (BC) signalling the start of a smaller TR during the markup phase E. This could be a re-accumulation and backup to the breakout that is forming. Will watch for the action during the TR to time going long again when this is done. It may take a little time before this happens.
AMS - Double Top We may derive the following from the Weekly AMS chart:
1. Price seems to have formed a double top.
2. The weekly chart was unable to close above the top high.
3. It is still early to make a decision and so patience is needed to see if we form a potential sell pattern.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
$JSEAMS - Looking strong - solid results.Amplats had already broken out but certainly boosted by solid results earlier today.
AMS Bearish Engulfing at ResistanceJSE:AMS has formed a bearish engulfing pattern at resistance levels. Looking good for a short position
AMS Bearish HaramiJSE:AMS has broken through an ascending support line and formed a bearish harami pattern.
We will be looking at a short position, but be aware of the support level around 73000 as it might stall there for a while before finding direction again.
AMS - Momentum Strategy LongAll of the criteria have been met for a long on JSE:AMS on our Momentum Strategy.
The EMA's have crossed, The Stochastic has crossed up along with the MACD.
Anglo American ShortJSE:AMS has broken out of a descending triangle pattern as well as breaching through a downward fractal.
I have entered a short position with a target around the 55500 level.
Amplats up against resistanceAmplats enjoying a good run from it’s recent lows below R650 to test highs above R700 in today’s session.
I previously missed the move from R730, but I’m still bearish this stock.
Price may overshoot the R720 resistance area, but I will take that as a chance to get better entry.
I’m looking to trade it as follows:
Short at R720 (or better)
TP at R600
SL R800
Amplats broken through supportAnglo American Platinum Ltd have had a good run of it over the last year. The stock has been very bullish but it would seem as if it has run out of steam and momentum.
As of the end of February, a big bearish divergence have occurred between price and the MACD. Since the formation of that divergence, JSE:AMS has also broken through support at about R720.
It might be a good time to go short, but I would like to get a better price than where it is currently trading.
Action: Place a limit order to go short at R720 with a stop loss set to R780. Set your take profits to R660 and R600 respectively.
Short on Anglo AmericanJSE:AMS has reached a resistance level just above the 83000 level. It reached this high on the 22nd of March bu then retraced all the way down to the 72000 level.
Before this, the last time it reached these levels was in April 2010.
My thoughts are that it is going to retrace downwards again and I am looking for a move back down to the 72000 level. If it does break through the previous high, we can see a move towards the 90000 area.
But my bet is on a short.
$JSEAMS inverted head and shouldersJSE:AMS
Weekly chart with inverted head and shoulders. Neckline held few times on back test.
Long here with stop loss at 43000 and target around 80000 looks as a great trade.
This is weekly chart so one must be very patient with development.
