Trading Harmony Gold (NYSE:HMY)

Research Notes 25 - 29 August > https://www.unum.capital/post/r2529august

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For clients trading Harmony Gold (NYSE:HMY):

The share is in a bullish regime, trading above it's rising short term moving averages i.e. 8 and 21-EMA as well as at the upper boundary of a 3 month range. Here, the $16.25 level is key to further short term upside, with a strong break above that targeting the unfilled gap at $16.90 as well as the previous highs above $17.70. As with all potential breakouts, we remain cognizant of failure to hold the range highs. Here, failure to hold above $16.05 would a first warning sign that sellers are looking to take control. Note: Event risk in the form of earnings (at or around 28 August).

Lester Davids

Senior Investment Analyst: Unum Capital