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Harmony Gold: I Missed This Move, But The Model Didn't

  • Writer: Lester Davids
    Lester Davids
  • Mar 8
  • 1 min read

Updated: Mar 9

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.

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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.


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Previous Post (Monday 10 February): For HAR traders, an inflection point worth noting.


HAR Daily Chart as of today's close.
HAR Daily Chart as of today's close.

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HAR Price Action Model as of today's close:

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Lester Davids

Analyst: Unum Capital


JSE Gold Miners, as discussed in November (buy/long).

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