JSE:AGL has triggered a long position with today's movement. The stochastic, MACD and moving averages have all crossed upwards, signaling the upward momentum.
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
I am looking for a move back to weekly support at R687. Will monitor for a reversal around support level.
Trade ideas are my own and not financial advice.
If the price continues downwards tomorrow, we will enter a short position on AGL. The stochastic, MACD and the two moving averages are all showing signs of a downward move.
A bullish trend is applicable above 75200. Negate the stance for a break below this level.
RSI leaves enough room for further upside price potential.
Remains above its 200-day simple moving average.
Remains a risky trade!
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.
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
After a really strong run and heavily driven by a strong rally in Kumba Iron Ore, AGL appears to be coming back to reality. Breaking below new support with momentum firmly on the sell side, we could see AGL re-test the 50 day moving average from here. I make that R640.00 (ignore my "historical figures)
1-hour time frame continues to trade within the downward channel. Maybe, first a gap fill at 56017c before the channel is breached a swing long to around 60089c.
Current: 57923c
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
Anglo retests the baseline of the ascending triangle breakout. Closing above the 200 EMA on Friday with a doji candlestick. Proving a good buy opportunity with a tight stop loss just below the 200 day EMA around R573.
