Trade Harmony Gold with Unum Capital
To get started, email lester@unum.co.za
Summary: The price action model - though unsophisticated and unorthodox - is a useful tool in helping traders manage risk and uncover opportunity.
Most recently, our research highlighted the downside risk in Harmony Gold, with the share subsequently declining by 20% in quick succession. Before that, our research (driven by the price action model) identified a long side opportunity that saw HAR rally significantly.
This past week, unfortunately, I missed sharp rebound, as the share gained 18% for the week.
What's interesting is that the price action model was 'on point' in recognizing the opportunity.
Check out the chart time-stamped reading below (Thursday, 27 February), 1 day before the bottom on Friday 28 February. Below that is a second chart highlighting the end-of-day reading for 28 February.
Previous Post: Trading Harmony Gold: Lower By Over 4600c (or -20%)
Update: Currently lower by 4600c. The original note was published Monday evening (10 February ) in the note "Channel Check" - highlighting the potential resistance at the rising trend line. Scroll down.
Previous Post (Monday 10 February): For HAR traders, an inflection point worth noting.
HAR Price Action Model as of today's close:
Lester Davids
Analyst: Unum Capital
JSE Gold Miners, as discussed in November (buy/long).
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