A Turn in the Platinum Miners? Part 1 - IMP

24 giu 2021

IMP Given the weakness in the platinum miners and resource stocks in general in the last few weeks, it takes some bravery/optimism/fondness for punishment to start nibbling at long positions.

Some resource stocks, and platinum miners in particular, are tilting bullish. on IMP:
- Golden cross & bullish confirmation on 1D MACD
- Bullish divergence on weekly MACD
- On Weekly: Crossed 5EMA and heading towards 15EMA
- On Daily: Crossed 5EMA & 15EMA, and 5EMA is threatening 15EMA cross.

What do you think - bottom in? Looks like a reasonable risk reward trade if you keep your stops tight. I'm looking to enter at R246 with a stop at R239, target R271 ... 3.5:1

UC