AAL trade ideas
$JSEAGLJSE:AGL
Stuck in rage for last 2-3 months. Break above or bellow will be worth 9% of the price
JSE_AGL: Anglo American upward strideAfter a large amount of shares exchanged hands between Aug 2015 and May 2016 Anglo American has been in a strong uptrend. Volume has dried up indicating that shares are in strong hands. Currently AGL is in a pullback and will wait for a decisive break of the pullback trend line or the stock to reach the oversold line.
Anglo American Plc fell 3.5% in 4'..Anglo American announces earnings tomorrow..a day earlier, today...it fell 3.5% in 4 minutes.
Most traders took short positions on Thursday were the stock fail to progress further.
Breakout setup with a nice short term profit bounceBreakout setup with a nice short term profit bounce from the support zone
Anglo American PLC50MA is broken with high volume giving confirmation downtrend. Here, we can short after sure breakout of rising channel and closing below 1783.00 with target zone 50. 61.8 fibonacci levels
Anglo American ~ Long Swing TradeOversold and is showing signs of a new uptrend. Also within a strong channel.
Hold till resistance level/overbought RSI
Place stop loss at 1320
Risk/Reward ratio: 4.3
After data from China base metals are performing wellWe may see a test of the highs, but the most recent value are is my first target.
One we get there look at the candles for more clues, but for now we move higher!
AAL Short - Rising Price on descending volume.AAL Short - Rising Price on descending volume.
Rising price on descending volume and OBV. Possible retest of previous support levels.
Is Anglo American poised for a sell-off to 872?The share currently trades at 1080. A sell-off to 872 means 19% drop! This the downside target as per the measured height method. Take note of the large head and shoulders breakdown pattern.
The daily RSI is close to but not yet oversold. The weekly RSI shows a nice rounding top pattern and is sufficiently far away from the oversold region.
We also saw a typical shakeout of the 'weak bears' following the breach of the neckline on April 18. Prices then failed again to hold above neckline and here we are today... trading at 1080. It is not looking good for Anglo American and broader markets.
A drop to 872 (19% drop) looks likely if - Pound continues to rally and moves to 1.33-1.35 levels and oil, iron ore prices slump. Well one may also consider a potential Trump Slump or Marine Le Pen victory this Sunday.
What if Fed strongly hints at balance sheet reduction tomorrow? All these factors could yield a drop to 872
AAL - Looking For ShortI think we could see more downside for Anglo American, 2016 trend line break early March, now have the potential for Head & Shoulders neckline break and a 123 high break into lower low. My target from the breaks is 865
Heading a little lower perhaps? Not sure whether ABDCE wave will action or just a simple ABC corrective before wave 5 commencement.
Have 1160 area in sight for next leg up
any thoughts?
bullish its the best in my watching ...
im eagerly waiting for bullish candle for big uptrend ...
uptrend...pullback ending
watching ...buyit has been in my watching for almost 5 months ...
it has broken descending trend line...
but ive not enter to it because i dont see passing of a major area and in the chart im looking for breakout of colored area and entry to buy position...
i believe s/r zone will be broken so watch it very nice...
good luck
