Tuesday 29 October 2024
Time Published: Pre-Market
Exxaro Resources (EXX) & African Rainbow Minerals (ARI) vs Northam Platinum (NPH)
The 21-week EMA Is Useful Tool In Measuring Reward-To-Risk as well as Uncovering Opportunities
In this case, both EXX and ARI exhibit similar setups to the one recently seen with NPH where there was strong price action around a flat 21-week exponential moving average that eventually saw a 'break' above.
Even if you missed the bottom, there are always 'continuation' trades/strategies to employ.
EXX - buy/long idea recently at R155
TTG & Chart as of yesterday's close
ARI - recent view on positioning for a rebound at the swing lows. (around R155, bullish reversal as the price traded up to R200)
TTG & Chart as of yesterday's close
NPH - Notice the persistent test of the 21-week EMA? (recent strategy alert at R93, last week's high was +R149)
TTG & Chart as of yesterday's close
Lester Davids
Analyst: Unum Capital
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