Trade African Rainbow Minerals with Unum Capital.
To get started, email lester@unum.co.za
African Rainbow Minerals Relative To The JSE Top 40 Index
African Rainbow Minerals (ARI)
The 7-day trend is strong, and the 14-day trend is rangebound.
Q: What is the overall trend for African Rainbow Minerals in the short term (1 to 10 trading days)?
A: attempting a bullish reversal following a consolidation phase. This suggests a potential upward move in the short term.
Q: What is the medium-term trend (2 to 4 weeks) for African Rainbow Minerals?
A: The medium-term trend is attempting a rebound following a downward trend. This indicates a potential upward movement, but it may consolidate further before continuing higher.
Q: What is the long-term trend (5 to 8 weeks) for African Rainbow Minerals?
A: The long-term trend is range-bound in a weak regime. A recovery buy or long position is triggered on strong bids and a break of the current range high. This suggests a potential upward move, but it may be range-bound for a while.
Q: What are the key takeaways from this price action analysis?
A: The short-term trend is bullish, suggesting a potential upward move. The medium-term trend is attempting a rebound, but may consolidate further before continuing higher. The long-term trend is range-bound, but a recovery buy or long position is triggered on strong bids and a break of the current range high.
Q: What are some potential strategies for trading African Rainbow Minerals based on this analysis?
A: Short-term traders: May look to buy on dips or breakouts in the short term, as the trend is bullish.
Medium-term traders: May look to buy on a break of the current resistance level, as the medium-term trend is attempting a rebound. Long-term traders: May look to buy on strong bids and a break of the current range high, as the long-term trend is range-bound.
Previous Post: African Rainbow Minerals: A +29% Rally; Now Short Term Overbought
Wednesday, 02 October 2024
Time Published: Pre-Market (06h11)
Ticker: ARI
Significant rally off the swing lows of R155 to a high R201.98 during yesterday's session.
Short term traders, take profit or trim some of your position.
Previous Post: Wednesday, 13 September 2024. 11h55
The share has now rallied by R37, with a high of R192.64 today.
Short term/active traders will use these advances to reduce exposure and potentially re-enter at lower levels.
The high was also into my actionable trading zone (sell/reduce), pulling back to R187 on an intraday basis.
Scroll down to see the previous (+original) posts which were communicated to clients of Unum Capital.
The chart is 'current'
Previous Post: 13 September 2024
Update / Pre-Market
Ticker: ARI
Previous Post: 12 September
Real-Time: 10h21
Ticker: ARI
The share has found support at the previous swing low and is rebounding from deeply oversold conditions.
This setup was discussed on Monday, 02 September.
The chart is 'current'
Pre-Market
Ticker: ARI
As per my report on Monday, 02 September (Active Trading Plan), the share is approaching key levels i.e. the previous breakout range and the previous swing lows.
Also note the following, yesterday we saw a 'doji' candle being printed, which may be early clues of a slowdown in downward momentum.
Note: Event risk in the form of earnings at present (Friday, 06 September).
The slide from my report is shown below.
Lester Davids
Analyst: Unum Capital
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