Resource are very likely the place to be over the medium term. Satrix Resources which is a basket of the biggest resource stocks on the JSE is bouncing off a massive level of previous long term support which has now become support (Change of Polarity). This is a great area to accumulate for the long term in my opinion. Will be happy to review after a few months...
JSE:AGL broke out of a long term descending triangle and has triggered our long position with today's price action so far. We are looking at a target around the 664 area with our stop loss just below the bottom of the triangle at around 538.
Descending Triangle formed on Anglo American and the price seems to be breaking below. If the ALSI continues down this will give a high probability short setup. 200>21>7 - Bearish RSI<50 - Bearish Target R405.50
A short position has triggered on JSE:AGL based off of the signals from the stochastic, MACD and EMA cross. We are looking at a target at around the 619 level.
based off of the turning downwards of the stochastic and MACD as well as the downward crossing of the EMA's, it looks like we could see a downward move for JSE:AGL
A short has been triggered on JSE:AMS . We are looking at a target at the strong support level of around the R1250 level.
JSE:AGL has broken out of the sideways consolidation area that it has been trading in since the end of July. With the breakout the price action has triggered a possible short position that we will enter into if the price continues downwards.
Our 3 momentum indicators have all crossed downwards on JSE:AMS signaling a good time to enter a short position. The target is at the strong support level at around the 160000 level.
All three of our momentum indicators have crossed downwards on JSE:AGL . It is looking good for a short position. Target levels around the support area of late September 2021.
JSE:AGL seems to be making an upswing at the moment. It recently formed a higher low and now with the EMAs crossing which was preceded by signals from the Stochastic as well as the MACD - I think we could see the upward momentum continue possibly all the way up to the resistance at around the 63500 area.
This is an analysis on AngloGold Ashanti. From an inflation point of view I think this is a good stock to invest in as gold is also now turning the trend more upward, ANG could also have a big swing up. Disclaimer: This is just my opinion on the stock. Tread carefully and best of luck to all the other investors out there!
JSE:AGL has been trading in an upward channel and has recently bounced off the top for the 3rd time. I think we could see a move downwards to the bottom of the channel from here. The 60000 level is a potential target before either bouncing up or breaking out of the channel.
The EMA's on JSE:AMS have finally crossed downwards after the stochastic and MACD have been showing downward momentum for some time. It might struggle a bit at the 200000 level, but if it breaks through that, I think we could potentially see it go to around the 180000 support level.
JSE:AGL is currently at a support level from January 2021. If it breaks through this support level, we could possibly see a move down towards the 49000 support level.
Following a stochastic, MACD and EMA momentum strategy, AGL is showing two of the three confirmations for a short, if it trades lower today and the EMA's cross, I will take this as confirmation to enter a short position.
A double top has formed on JSE:AGL . I'll keep an eye on this for one for a break below 43000. If it confirms, we could be looking at a downward move for a short position.
JSE:AMS is showing strong downward signals and we could be looking at a move down to the support area at around 110000. The stochastic, MACD, and the two EMAs are all confirming this downward momentum.