African Rainbow Minerals: +R37 Rally + Into Actionable Area

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'

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Previous Post: 13 September 2024

Update / Pre-Market

Ticker: ARI

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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'

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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