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ANGLO AMERICAN PLAT LTDANGLO AMERICAN PLAT LTDANGLO AMERICAN PLAT LTD

ANGLO AMERICAN PLAT LTD

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AMS trade ideas

Anglo American Platinum: Setting Up For Bearish RevesalAt current levels, Anglo American Platinum appears vulnerable to a bearish reversal. Since 13-December we aw the R550 level act as a resistance in what appears to have been a key selling level. Over the past three trading sessions (11, 14 & 15 January), the price gave a false break on the upside while today we see a pullback below the R550 level. We also note the breakdown of a rising wedge technical formation while the Relative Strength Index (technical indicator) has refused to confirm the recent multi-year high. Relative to the share's 200-day moving average, the price trades approximately 30% above this level. As as common with a rising wedge formation, we often see a pullback before the "official" leg lower. Should we see the price trade near or above the R555 level again, traders could look to short/sell the share in anticipation a move lower. Over the medium term, the target is 470, using a stop-loss of R572.
JSE:AMSShort
by LD_Perspectives
2
JSE:AMS Anglo American Platinum Long AccumulationAMS has been in a range since 2013. Signs are that this range has been an accumulation range after a decline. After a spring in Phase C we have had a test on low volume in Phase D and signs of strength (SOS) according to a Wyckoff analysis. In Wyckoff language the SOS could be seen as a jump of the creek. There is currently a pause at the top of the trading range and today has seen a strong move on the daily possibly indicating that the markup in Phase E could start with sum increased volume on green bars.
JSE:AMSLong
by SteynTrade
It's time to bet on platinumFor almost two and a half years, JSE:AMS was stuck in a range of between R260 and R380, only once breaking out for a brief period. In July of this year, however, the stock found good momentum, reaching a high of R500.37. It has since come off this high and is now offering traders a good entry point. Take a look at the above chart. Firstly, note how Amplats is reacting to its 50-day EMA. It appears to be finding support at this level, which is a good indication that it could return to bullish momentum. In addition, looking at the Slow Stochastic, JSE:AMS is somewhat oversold at these levels. For this reason I expect the share to turn to the upside. Looking at the chart, I can't help but have a bullish view on Amplats and for this reason I will be going long on this stock. Action: Place a Limit order to BUY at R460 with Stop Loss set at R425. I will aim to take profit at R495 and R520 respectively. Margin: 13% Gearing: 7.69x Gain: +100.33% Risk: -58.53%
JSE:AMSLong
by UnknownUnicorn3689126