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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

JSE Diversified Miners Relative To JSE Top 40The following comment was included as part of today's research. For more research insights, including trade ideas, get in touch today. JSE Diversified Miners vs JSE Top 40 Index. The price action could improve before the news gets better. Last week we saw some resource shares stabilize (AGL and PGMs) which is in the midst of the ongoing Chinese economic weakness. My underweight view of sector vs the broader market (22 November 2022) has gone well beyond expectations with the sector subsequently being a serial underperformer (-19% over the period). I will acknowledge that I can't pick the bottom however we can rely on a combination of factors that help us assess when the reward-to-risk is appealing. Going through the 'Distance' charts, I've noticed the ratio (Miners vs Top 40) has developed a lower low while the distance vs the 200-day SMA is relatively 'flat' (a positive divergence). Most names acted well today. It looks like that 475-ish level on AGL has held again. If you go back, that was previously a major support zone. Attached to this post is the chart I published in November highlighting the potentially bearish underperformance of JSE Miners vs JSE Top 40.
JSE:AGL
by techpers
AGL Pursuing a Weekly LowAGL is seeking a weekly and yearly low, current cycle is failed with a possibility of 6 July being a low, however since we expect a bounce in the US dollar index, there is room for AGL to have a lower low. A yearly low is entails price going lower than the highest low of the previous weekly cycle, we have not yet satisfied that parameter with AngloAmerican, the price where that will be is R493.68. However should price close above the green declining trendline on a weekly basis, we know we have left behind a weekly low with yearly low a confirmed close above the final resistance near R700.We open long positions on close above the green line, there will be sufficient lift to take profit & if the yearly cycle is not confirmed & yearly low is ahead, there will be another great entry opportunity. It is also worthy of note that price as recovered the 200 week moving average as well as the bullish wedge.
JSE:AGLLong
by runyamhere
$JSEAGL - Anglo American: Is That A Head & Shoulders Pattern?Sometimes it helps to take a step back and look at a clean chart for classic chart patterns. Looking at Anglo American, a Head & Shoulders pattern looks to be playing out and being confirmed by a break below the neckline. Sometimes these patterns fail and we do not see the continued downside associated with these patterns. If not already short, it's best to sit on your hands and monitor price around the neckline.
JSE:AGL
by Loyiso_BlaqueSoros_Mpeta
1
$JSEAGL - Anglo American: Five Waves Down, Relief Rally ImminentAGL stock has had a strong sell-off from its 77318 peak in February. The sell-off to 51800 looks to have unfolded as an extended five wave impulse that is terminating in an ending diagonal. There is also MACD/price convergence between wave ((iii)) and ((v)) which tends to precede trend change. As much as it is still early to say whether or not 51800 is the bottom, price structure and momentum calls for a relief rally in the short-term.
JSE:AGLLong
by Loyiso_BlaqueSoros_Mpeta
Pair trade: Buying AGL v Selling GLNAGL likely to outperform GLN? A price action above 5.5275 supports a bullish trend direction. Further confirmation for a break above 5.7075. The target price is set at 5.8765. The stop-loss price is set at 5.4390. Walking the Bolliger bands might occur. Walking the Bollinger bands refers to a trading strategy that involves closely monitoring the price movements of an asset relative to the Bollinger Bands indicator. When the price "walks" or consistently moves along the upper or lower band, it indicates a potential trading opportunity. If the price continually touches or stays near the upper ban. Low volatility is applicable (see the lower panel) and such periods can often progress to periods of high volatility. This phenomenon is known as volatility clustering or the volatility clustering effect. It suggests that periods of low volatility tend to be followed by periods of increased volatility and vice versa.
JSE:AGLLong
by Peet_Serfontein
$JSEAGL - Anglo American: Stock At A Critical Juncture At 51000 The last analysis on AGL was on the 23rd of February 2023, link below. The stock has traded lower since the last analysis and has prompted an update of the wave count. The decline from 77318 has been strong with very shallow and brief pullbacks. I am labelling the decline in a tentative manner to accommodate both the corrective ABC and an impulsive I-V scenario. If the bulls are going to takeover again, they need to defend 54100 as a break below this level will confirm the sell-off as a five wave impulse. I will be watching price action around 54100 closely.
JSE:AGL
by Loyiso_BlaqueSoros_Mpeta
1
AGL: Close To Entering Bear TerritoryAngloAmerican is moving into a daily cycle low, however the share is walking a tight rope defined by 20 December 2022 low, if price goes lower than this price (R640.17) then major trend becomes lower as price seeks out a weekly cycle low. The trendline support is nearby and could provide a bounce into the next daily cycle albeit with a short uptrend before turning down. The broadening wedge price fell from can be backtested before resumption of down trend. Objective dates would be late April or early May for a cycle length of 30-32 weeks. The share is a proxy for the JSE Top40, so if price goes below R640.17 then we can expect the Top 40 will follow.
JSE:AGLShort
by runyamhere
1
JSE Diversified Miners vs JSE Top 40 IndexFrom a note, just published. Signals In November 2022 Suggested A 'Relative Underweight' In The Sector Back in November I presented my view on the JSE Resources sector relative to the JSE Top 40 Index, with the bottom line being that traders/investors might want to consider a potential “RELATIVE UNDERWEIGHT” position in the sector. We saw a minor ‘pop’ one week later, with a subsequent ‘rollover’ and breach of the incline to trigger a large bear flag technical formation within the megaphone structure. Below is my original view (Time-Stamped on 22 November), followed by an updated chart (as at today). Miners vs Top 40 (today, Friday 24 March 2023) Since November, the equally weighted index is down by around 12%, with varying performance across the constituents. See the demand-supply zones (green & red) on the weekly chart. If we close around these levels today, 8 out of the last 10 weeks would have end in negative territory. Let’s see keep an eye on the price action IF indeed it does trade around the next ‘demand zone’.
JSE:AGL
by techpers
AGL- 200 day support broken!Anglo has had two attempts at getting back above the 200 day moving average. Both of which, have failed. This is very bearish indeed. I think you can short this stock even ahead of the dividend. Support is a long way down and just eyeballing the level from where we are, I think there's at least R80.00 to be made on the short side, if you include having to pay in the dividend. I would close out the trade and take the loss if the stock has a strong close above the 200 day moving average. I don't see that happening today though...
JSE:AGLShort
by RobbyP