African Rainbow minerals is carving out another bullish flag formation which should see it reach two technical targets of R280.00 and R310.00, once it breaks out above the flag.
Cup and Handle has formed very nicely on the weekly chart. We've also had a strong breakout, confirming from the open of the candle. The moving averages are bullish 7 > 21 >200 RSI >50 - higher lows Bullish Target 1 - R340.00 Here's some information about the company to those who are international: African Rainbow Minerals (JSE:ARI) is a diversified South...
JSE:ARI is showing all of the signs for a good short position. If it breaks below yesterday's lows, the short will be triggered.
African Rainbow price is constricted between resistance and rising support forming an ascending triangle. In previous instances ARM showed this price action, price broke to the downside. There is a high probability of the same. Price closing above the resistance line on a weekly basis would be a stop loss for a short position then closely watch for a false...
African Rainbow Minerals has completed a running flat in wave 4 of (3) and ready to commence with wave 5 of (3). I anticipate termination at 261.8% Fibonacci level.
Original idea attached. Target of 22340c has been reached following rebound off lower boundary of declining channel.
Price coming breaking higher from this C&H price pattern into an area of interest for buyers. Good spot for a long pos here with a decent R/R. LT trend is up. Always manage your risk.
african rainbow mineral might see a bounce from the zone to move higher
The stock came back above the 200 day EMA for the first time in a while recently. It came back to retest the 200 day EMA on Friday. If the stock breaks R250 there’s a nice place for a R304 target with a R233 just below Friday’s low and the 200 day EMA.
Some more pain to come on the platinum miner. bearish symmetrucal triangle building up for a R140 target
In agreement with analysis done by Peet Serfontein. stock already purchased. Weekly and daily stochastics also showing heavy oversold positions.
Starting to break some major resistance. MACD supports a bullish trend direction. Trend strength suggests a strong trend gaining strength. Upside price momentum supports the bullish trend. Mean reversion trade likely!
Above 23300 supports a bullish trend direction. Upside price momentum supports the bullish trend. A price action close and below 22800 increases the likelihood of a pullback and mean reversion trade. At the lower range of the linear regression channel and the Bollinger Bands - which also supports upside price potential. ADX supports a strong trend gaining...
JSE:ARI is showing some good downward momentum based on the stochastic and MACD and the EMAs which are about to cross downwards. I will wait until we get absolute confirmation from the EMAs before entering, but if it breaks lower than the low of today's candle so far, we should see a cross.
I would like to see JSE:ARI break above the resistance level. TVC:GOLD is currently trading above the 200EMA, hopefully that can hep push JSE:ARI prices higher. If the breakout happens, I will buy at market close, with a stop level 2*ATR from the 50EMA. No target, the trend may persist. Will close the position if price close below 50EMA.
JSE:ARI is showing some good downward momentum with the recent downward crossing of the 3 and 15 period EMA's as well as the crossing downward of the stochastic and the MACD. If this momentum continues, we could see a possible downward move towards the support level at around 24000.