Weekly game plan 23 Aug 2020 - ANGANG long stopped us out. Perhaps a short from here?
Our thinking here is that any Gold short needs to be hedged at this stage... so not sure that we will get involved here.
AU trade ideas
ABC BullishPossible Stop Under 27.5
ABC pattern pattern only valid when price breaks entry level in a confirmed uptrend
Possible Targets 2: 47.5 53
Not a recommendation
JSE:ANG Anglogold on the Move AgainAfter a pullback to breakout levels volume has increased at resistance become support. Together with negative divergence on the volume RSI this points to a healthy continuation in Gold stocks.
Bearish on Africa Gold minerWhy the Bearish on Gold miner?
Africa is shut Down for 14 days!, all mining activity shutdown!
Most Africa based miners are DOWN!!
Pending follow up with more EURO shutdowns.
sooo?
SOOOOO, This company is up because Gold is UP, Please buy it because they think it's GOLD!
EVEN So, people only buy gold due to fear of recession bets and fear of the weak dollar.
But guess what? GOld will crash if we have a flash crash anyways!!!
that means, we will win, if market crashes hardcore, and we would win if market continues to rally up and cancels recession fear.
Win WIN
AU- Short Shares
IDEAL on Short entry - $24.50
Buy to cover $16.23
buy to cover Trailing stop $4
Strong Buy For AUD/CADAUD/CAD is now on a strong support, MACD and Signal lines touched each other, So AUD/CAD will rise / 30M Time Frame / MACD, MA, SUPPORT
ANG ORIGINALLY POSTED ON OUR CLIENT PLATFORM AT 12:19pm TODAY at 52151c.
"FED stimulus, the threat of negative rates and safe-haven status, so these names remain well bid...While it is CURRENTLY bullish, some of you may have however noticed ANG nearing the overhead trend line resistance zone stretching back to the Jan-2003 and Feb-2016 swing highs, as well as the March 2009 and December 2011 channel resistance zones. Could very well see an overshoot of the trend line, but always caution as share is 430% off the May 2018 lows. Also, Monthly RSI is starting to signal bearish divergence."
Regards
Lester Davids
Double Top on ANGJSE:ANG has formed a double top around the 52500 level. It has broken through the "dip" between the two highs, which usually is a trigger to enter a short.
We could see a move all the way down to the support zone at the 31000 level.
JSE:ANG Anglogold Next move startingThere has been some volume buying into the close today. Price has reached the oversold line and was unable to break below the previous trading range. The volume could indicate the start of the next move.
JSE:ANG Anlogold Watch for the next push higherThe markup following the accumulation range is in the process of playing out (see posts below following the progress). We have had a week attempt at a pullback which is reaching the oversold line and the previous breakout level. Time to watch for the next step higher.
JSE:ANG Anglogold Next Step UpGold stocks are looking to have a good markup and Anglogold seems to be one of the best in a strong sector. After a spring, last point of support (LPS) and backup to the trading range (BU) which all gave opportunities to enter (see posts below) we are now ready for the markup. The volume is low with ease of movement in the price. This indicates that the stock has been scooped up by the large players and they are holding on to it so there is little stock available so there is little supply.
ANG LongANG C&H target reached
take profit or move up stop loss position
current bullish market indicators suggests further upside
this week
ANG LongANG ripe for the next wave up
nice little pull back / correction after yesterdays flight into gold
time to nibble some more
if Support holds this week we are looking at significant upside
JSE:ANG Last Point of 'Support (LPS)Anglogold has had a spring and test of the spring. After a good markup in phase D we have seen a pullback on reducing volume to a last point of support (LPS). Time to look for the markup out of the trading range.
ANG LONGANG HAS Reached its First LTR
Break and Closure Above The LTR ( Long term resistance )
today or consolidation will signal further upward momentum
Wait for break to signal trade
