To Note: Anglogold Ashanti (ANG) | Friday, 04 August 2023
To Note is research commentary is intended to alert to client to a potentially significant level or development, mainly from a technical perspective. Further, the content gives clients access to the analyst's perspective of an instrument which can help in preparing for a potential trading opportunity.
Anglogold Ashanti (ANG)
The share has unwound from it's high of 55688c to yesterday's low of 35040c.
This low is in line with: (1) the 61.8% Fibonacci retracement zone and (2) a range just above the 200-week simple moving average.
Considering that the share may be approaching oversold levels on a weekly (medium) basis, traders need to monitor for an improvement in price action which includes candle structure.
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Analyst: Unum Capital