Long
#AMS - time to accumulate again?
Since the highs in March 2022, Angloplat has corrected almost 50%. I am starting to become interested in this chart on a medium term basis for the following reasons:
(1) Supported off 61.8% fib from Mar 22 and Mar 20 Highs and lows
(2) Rising channel support
(3) Has tended to consolidate under the 200WMA before reversing on a weekly time frame
(4) 200wma still trending upwards
(5) supported off September 21 horizontal lows
Remember this is a weekly chart so it could take some time to play out with the possibility of weekly consolidation in this zone, but ultimately I would bet on my chances of this resolving higher in due course.
(1) Supported off 61.8% fib from Mar 22 and Mar 20 Highs and lows
(2) Rising channel support
(3) Has tended to consolidate under the 200WMA before reversing on a weekly time frame
(4) 200wma still trending upwards
(5) supported off September 21 horizontal lows
Remember this is a weekly chart so it could take some time to play out with the possibility of weekly consolidation in this zone, but ultimately I would bet on my chances of this resolving higher in due course.
"If you do what you love, you'll never work a day in your life" - Marc Anthony
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
"If you do what you love, you'll never work a day in your life" - Marc Anthony
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.