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Northamplatinum

Northam is showing downside to R145.18 while the markets rallyHead and Shoulders in the making for Northam PLatinum Since it broke out of the downside and entered into a rising - sideways consolidation - the buyers have just not been able to keep the price up. We are starting to see negative and bearish signs technically. 21>7 - Bearish Price approaching 200MA RSI<50 - Bearish Target R145.18 CONCERNS: The main concern is that global markets are flying, resource stocks are sky rocketing along with gold. The January Effect alone pushed up the JSE ALSI 9% this month. So we are seeing bullish signs, which could turn up Northam. But for now Northam is bearish.
JSE:NPHShort
by Timonrosso