Trade Impala Platinum with Unum Capital.
To get started, email lester@unum.co.za
Q: What is the current 7-day trend? The 7-day trend is Overbought.
Q: What is the current 14-day trend? The 14-day trend is Very Bullish.
Q: Is there any opportunity for a short-term buy/long position? The short-term price action reading is: Aggressive Buying But Overbought On Lower Time Frame-Expect Consolidation or Minor Retracement. This suggests that while there's buying pressure, it might be too late to enter a long position. It's advisable to wait for a consolidation or pullback.
Q: What is the outlook for the medium term (2 to 4 weeks)? The medium-term outlook is: Aggressive Buying But Do Not Chase-Look For Overshoot or Failure To Hold Prior Session Range Highs To Short-Sell Back To The 8-EMA. This indicates a potential for short-selling opportunities if the price overshoots or fails to maintain its highs.
Q: What is the outlook for the long term (5 to 8 weeks)? The long-term outlook is: Strong Attempt At A Bullish Reversal Following A Consolidation Phase. This suggests a potentially positive long-term trend after a period of consolidation.
In summary: The image indicates a mixed picture for IMP. While the 14-day trend is strongly bullish and the long-term outlook is positive, the short-term is overbought. Traders should be cautious in the short-term and look for pullbacks or consolidation before considering new long positions. The long-term outlook appears more promising, but traders should monitor the short-term developments for potential pullbacks to key support levels.
Lester Davids
Analyst: Unum Capital
Comments