Harmony Gold: Potential For Failure To Hold Swing Highs

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The long-term outlook suggests a bullish trend with buyers in control, though weakness is noted on lower timeframes, indicating a potential pullback to the 8 or 21-EMA for a buying opportunity. The medium-term also points towards an upward trend, but warns of a possible failure to hold prior session range highs, which could trigger a tactical short-sell. In the short term, the market is either in or commencing an upward trend, but similarly advises caution about potential failures to maintain prior session range highs, suggesting a possible short-sell opportunity.

Should the share reach the provisional sell ranges, this could place the share in an extended position versus it's 75-day EMA!

Lester Davids

Analyst: Unum Capital