AGL Short opportunityAfter a very successful long trade, JSE:AGL has now formed a bearish harami signalling a short. I will wait for this to confirm before entering.
AAL trade ideas
AGL breaks out of parallel channelJSE:AGL has broken out of a parallel channel that it has been trading in for almost a month. I have entered a long position due to this breakout as well as breaking higher that the last fractal
AAL Bullish For Metals BounceAAL.L (Anglo American plc) is a precious metals producer with a healthy balance sheet and robust income. Having pulled back from $2,200 to $1,919 in congruence with major stock markets and a current market cap of $24-BLN it makes for yet another appropriate defensive play for the stock market rebound coupled with a probable tendency for precious metals to continue gaining strength.
AAL.L bullish target of $2,100 for a 9.4% difference from the current quote of $1,919. The duration for this trade idea is 1-3 months.
AGL possible upward moveJSE:AGL has broken through a descending resistance line and is looking good for a long position.
For the more cautious trader, I would wait for it to close above the resistance level and the fractal before entering.
Bouncing off SupportJSE:AGL is bouncing off a support level at the moment with the stochastic turning up. This could possibly mean a reversal, so if it continues upward I am entering a long position.
Anglo American at 8 year highAnglo American continued it's strong run to R400 this morning thanks to renewed weakness in the ZAR.
AAL - LongAnglo American PLC - Long
Making good process. Long-term trend (weekly chart) well established.
ANGLO AMERICAN ; JSEEnding Diagonal with divergence on the RSI, currently trending around the Supply Zone. Sooner I expect sellers to gain momentum as the ending diagonal gets broken out of the support line thereof.
Anglo American monthly chart warns for caution..A quick view of the monthly chart of Anglo American on the JSE suggests that bears are gaining the upper hand as a result of the upper tails formed on every attempt to rally beyond R320-R330 as can be seen on the candlestick chart. Bulls are just battling to gain any sort of momentum to move the stock beyond R330.This type of action is normally typical of a market distributing a stock. In addition, the monthly chart has formed bearish divergence where the stochastics indicator has been unable to confirm the new high in the stock price. I would be using this strength to take profit if I am long $JSEAGL or look to short here for moves back to potentially R270 and R240.
Bullish Harami in a Support Zone on AGLA Bullish Harami pattern has formed on JSE:AGL which is also in a major support zone.
This is usually a reversal sign. With it being on support the likelihood of a reversal is much higher. The stochastic is also turning upwards.
We have entered a long position with today's price action and are looking to take profit around 32000
ANGLO IS TRADING AT A KEY LEVEL - EXPECTING UPSIDEAngloGold Ashanti is an internationaly acclaimed gold mining company with a geographically diverse and world-class portfolio of operations and projects. Headquartered in Johannesburg, South Africa, AngloGold Ashanti is the third largest gold mining company in the world, measured by production. The company was established in 1998 when the gold and uranium interests of Anglo American Corporation of South Africa were consolidated.
The group has 17 gold mines in 9 countries, has several exploration programs in established and new gold producing regions and is listed on 5 stock exchanges, including its primary listing on the Johannesburg Stock Exchange (JSE). Operating regions include South Africa, Guinea, Mali, Ghana, the DRC and Tanzania, as well as South America and Australasia.
Weekly: We can see an impulse on the left of the chart and then a 3 wave corrective structure which broke to the upside. While there may be an interim pull back in price, I have a final target of 45000 - 47000 on the second impulse on the weekly time frame.
Daily: Price is trading very close to the bottom of the daily structure. This is an important level as price could go either way from here. Should the structure break to the downside, a smaller confirmation structure will confirm the downside. Should there be a reversal, I am confident that wave 5 to the upside will complete at the weekly impulse target.
$JSEAGLJSE:AGL
Spending last 6 months in sideways consolidation.
Currently testing bottom of it.
Look for break or bounce from here.
Possible reversal on AGLJSE:AGL looking good for a possible short trade.
A shooting star pattern formed on Friday last week. Today's movement has been upward so far, but heading towards a resistance zone.
Stochastic in over bought territory - if it crosses down, this will be confirmation.
$JSEAGLJSE:AGL
Breaking from down slopping channel will probably go to back test top of the box around 33000
Anglo American Plc - Pending Falling Wedge Time Frame: Short Term
Chart: 15-min
Anglo American Plc is building Falling Wedge formation, setting up a short term buy/long trade.
Potential Buying Levels:
Below R317.50
Stop-loss: R313.00
Take Profit Target: R328
$JSEAGLJSE:AGL
After breaking small box, $JSEAGL made another this time bigger box.
Look for the break above
