Anglo American PLatinum just chose a direction - DOWN to R743.65After the AMS stock tricked us showing upside to come with the downtrend broken.
This is where Smart Money clearly came in and sold the hell out of it.
Now there is an M Formation accompanied with a Bearish Engulfing candle.
This is more bearish than not.
200>21>7 - Bear
RSI<50
Target R743.65
ABOUT THE COMPANY
Anglo American Platinum Limited is a South African company and is the world's leading primary producer of platinum group metals (PGMs).
The company was incorporated in 1946.
Amplats is a member of the Anglo American plc Group, a multinational mining company with a diverse range of mining operations worldwide.
The company is listed on the Johannesburg Stock Exchange (JSE) under the ticker symbol AMS.
Anglo American Platinum operates a portfolio of mines across South Africa and in Zimbabwe.
Their portfolio includes key operations such as Mogalakwena, Amandelbult, Unki, and Mototolo.
In addition to mining, the company is also involved in smelting, refining, and the marketing of platinum group metals.
Amplats produces several PGMs, including platinum, palladium, rhodium, iridium, ruthenium, and osmium.
The company's products are used in a wide range of industries, from jewelry to automobile catalytic converters, in electronics, and for industrial applications.
HOW IT GOT ITS NAME
Anglo American Platinum Limited, often referred to as Amplats, derived its name from its parent company, Anglo American plc, and its primary business of platinum production.
"Anglo American" reflects the origins of the parent company, which was established in 1917 by Sir Ernest Oppenheimer. The company was initially funded by British and American capital, hence the name "Anglo American."
