AngloGold Ashanti: 21-Week EMA In Focus

Lester Davids
14 minutes ago
1 min read

Research Notes For 30 June to 04 July > https://www.unum.capital/post/r3004july

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21-Week EMA In Focus As Ultra Short Term Buy Re-Entry Range For A Short Term Rebound Only!
Range R685 to R700.

The pullback has coincided with the retracement in gold as well as a stronger ZAR. We also discussed the consolidation last week Monday (23 June). The 8-week EMA has been breached, with the share having closed below the level by Friday. The 21-week EMA continues to slope higher, confirming the underlying bull trend. What is the next best provisional re-accumulation range? At or preferably just below the 21-week, which is in line with the previous swing lows of 14, 15 and 16 May. For ultra short term traders, this would be an opportunity to generate cash flow.