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ANGLO AMERICAN ORD USD0.54945ANGLO AMERICAN ORD USD0.54945ANGLO AMERICAN ORD USD0.54945

ANGLO AMERICAN ORD USD0.54945

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AAL trade ideas

Long Top5 oversold/overbought according to RSI & Anglo AmericanEnd of week 10May19. Another bad week for both Resources & some Property Stocks. FTSE/JSE All Share Top5 oversold/overbought according to 14day RSI indicator as follow: Oversold: Hammerson 22 Glencore 25 South32 28 Hyprop 29 Anglo American 29 Overbought: Delta Property 77 Allied Electronics 70 Transaction Capital 69 Tsogo Sun 68 Cartrack 67 Spending some time on Anglo American . This remains one of my favourite mining house. Lately, it did however find itself in an extreme overbought environment, which was “corrected” in one big swoop. For the first time since November last year, the share price is now extremely oversold according to its 14-day RSI. Any further weakness should see first support at around R334, with the 200-day Moving Average (at R328.50) being a strong support level. If I was a short-term trader, I would most probably use this as my stop-loss level. We however saw similar price movements in November 2018, which was followed by an equally strong recovery. Should we see a bounce off these oversold levels, could see $JSEAGL test the 50-day moving average at R382. Thomson Reuters consensus still got a R394 target price on Anglo’s.
JSE:AGLLong
by SchalkLouw
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.
LSE:AALLong
by AUDvantages
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.
JSE:AGLShort
by MarcoOlevano
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.
JSE:AGL
by Linton_White