Northam Platinum: Strong Rebound + Next-Best Levels + Probabilities

Lester Davids
6 hours ago
2 min read

Research Notes For 26 to 30 May > https://www.unum.capital/post/r2630may

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Note:

The share is also extended to the upside vs the 50-day EMA (i.e. a poor buy/long reward-to-risk).
Provisional next best level of buying interest is R139 to R142

The overall tone leans towards a cautiously bullish outlook, particularly in the longer term.

The 14-day trend is identified as "Very Bullish," which suggests strong upward momentum over the medium term. While the 7-day trend is "Overbought," indicating a potential for a short-term pullback or consolidation, the longer timeframe perspective highlights underlying strength. The "Long Term" commentary suggests an attempt to advance within a bullish regime, looking for opportunities based on the prior session's close and moving averages, indicating a bias towards upward movement over a longer horizon.

However, the "Short Term" assessment notes that it "Would Not Enter Long Here" due to an "Unattractive Risk Reward." This highlights the caution in the immediate short term, likely due to the overbought condition. The "Medium Term" view suggests a "General Trend Up" but advises looking for specific setups after potential failure to hold prior sessions, indicating a need for confirmation even within the broader upward trend.

In summary, the analysis presents a bullish sentiment for Northam Platinum in the medium to long term, supported by the "Very Bullish" 14-day trend and the long-term commentary. However, it signals short-term caution due to overbought conditions and an unattractive risk-reward, suggesting a need for careful entry points even within the broader upward trajectory.