Trade Anglo American Platinum with Unum Capital.
To get started, email lester@unum.co.za
Q: What is the current 7-Day Trend for Anglo American Platinum?
A: The 7-Day Trend is Strong.
Q: What is the current 14-Day Trend for Anglo American Platinum?
A: The 14-Day Trend is Bullish.
Q: What is the short-term price action reading for Anglo American Platinum?
A: It is attempting to advance while in a bullish regime. Use the prior session close or 8-EMA as an accumulation zone.
Q: What is the medium-term price action reading for Anglo American Platinum?
A: It is attempting a bullish reversal following a consolidation phase.
Q: What is the long-term price action reading for Anglo American Platinum?
A: It is attempting a rebound following a downward trend. It may consolidate further before continuing higher.
Overall, the price action model suggests that Anglo American Platinum is currently in a bullish trend with a potential for further upside in the medium and potential for a bullish reversal in the long term.
Previous Buy Idea: 10 June at R576 (now R200 higher at R776)
Previous Post: Anglo American Platinum: Long Term Charts & New Lows - Wednesday, 11 September 2024
• PRE-MARKET
Ticker: AMS
I'm old enough to remember when Anglo American Platinum traded above R2100 per share.
Yes, there was a time when platinum shares were untouchable and when selling them was a no-no.
Fast forward close to 3 years later and no-one wants to touch them again (remember 2015 - that's a story for another day).
Here at Unum Capital we produce research that considers multiple time frames, from daily to weekly to monthly.
While other consider monthly charts irrelevant, for us it is a valuable tool in assess reward-to-risks, especially from a portfolio perspective.
Long-time subscribers of my research may recall Anglo American Platinum trading above R2100 per shares.
Some may also recall my view to use the multi-year highs to reduce long term portfolio exposure.
The time-stamped chart (Saturday 20 March 2021 for Monday 22 March) is shown below
Fast forward 3.5 years later and AMS has gone from R2115 at the time to R570 (it did trade as low as R558 in recent months).
After yesterday's market close, Anglo American announced that it would be conducting a bookbuild, offering 13 million AMS shares.
This will no doubt put pressure on the already depressed AMS share and is likely to see it trade at fresh multi-year lows.
Whilst we don't know what the extent of the selling will be, the R480 to R425 range is the previous swing lows which also coincides with the previous breakout.
There will another opportunity to buy, but for now we watch and watch until the dust settles.
For now, here's a sneak peek of my zoomed out (flash) view:
Lester Davids
Analyst: Unum Capital
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