RobbyP

Anglo American- I'm chasing the high

Long
JSE:AGL   ANGLO AMERICAN PLC
After failing at the second attempt (Just above R400.00) at the recent high, Anglo has given us a fair enough pull-back to get long. Today's interim results, I think the share price will get buying support above R380.00. Although I'm not going to chase it, I am aiming to buy the CFD just below 385.00 (if it goes there). All of my momentum indicators have swung up into a positive direction and I'll be using the 50 day moving average as my stop loss. A breach of that will be my signal to exit. The target for profit taking is also rather simple... I'm chasing the previous high
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