HAR LongHAR about to shoot the lights out
LT Indicators showing Cup & handle
backed by market volatility
HMY trade ideas
$JSE-HARJSE:HAR
Posting weekly chart since patter is way to big for daily.
Made sideways consolidation over last 5-6 months with top of it been tested on Friday. Break above will bring more upside.
What I wanted to point is big cup pattern that is still developing.
If it plays out potential target is around R10000
Harmony Gold Mining Bullish
Trade the move to breakout level, where consolidation could take place.
Upside target $5.81 has nice confluence of Fibonacci levels.
RSI has plenty of room to run higher.
Company profile
Harmony Gold Mining Co. Ltd. engages in mining and exploration of gold. It involves in building mines and open-pit operation, sales and financial management, and land rehabilitation and mine closure. It operates through the following segments: Tshepong Operations, Moab Khotsong, Bambanani, Joel, Doornkop, Target 1, Kusasalethu, Masimong, and Unisel. The company was founded on August 25, 1950 and is headquartered in Randfontein, South Africa.
$HMY Gold - Gold Breaks $1600 level. Great chartWith gold breaking with $1600 level for the first time since 2013 and a small sell off on earnings due to decreased production. Sentiment has changed. 52 week highs look like they will get crushed. Long further out $5 Calls.
$JSEHAR Harmony gold back into buying territory?I'm starting to keep a close eye on Harmony Gold. It has retreated almost 30% from the highs printed on the 6th of January this year @ R58.64.
The current area at R42 has been a major support level for harmony over the last 6 months with multiple reversals off this zone. What adds some further strength to this level is that we also see the 200 day moving average intersecting in the same area (200 day ma R41.44). The last time Harmony touched its 200 day moving average was back in June last year when the price was at R26!
Watch for the stock to consolidate and form a reversal candle off the current support area for a possible opportunity to accumulate the stock for a move higher. Should a reversal take place, shorter term targets are R47, R50 and R53. I would keep a stop loss under R40.00 to protect your capital.
Harmony Gold Mining Co. Ltd. Trade setupHarmony Gold Mining Co. Ltd. engages in mining and exploration of gold. It involves in building mines and open-pit operation, sales and financial management, and land rehabilitation and mine closure. It operates through the following segments: Tshepong Operations, Moab Khotsong, Bambanani, Joel, Doornkop, Target 1, Kusasalethu, Masimong, and Unisel. The company was founded on August 25, 1950 and is headquartered in Randfontein, South Africa.
HARHarmony Gold - hasn't spent much time above 5327c, and, is currently consolidating with bearish candle structure signaling some selling pressure. Gaps to the downside at 4493c.
Pairs Idea - Long HAR Short SGLEquities Pair | Long HAR / Short SGL | Over the three month period, the pair, from peak to trough, is down by 50% and is trading at the prior breakout zone as well as at the gradually rising incline support going back to August 2016. At current levels or lower I would be comfortable putting on the pair with the following levels:
Enter at or below 1.4943
Use a stop-loss 1.4400 to protect capital
Take Profit at or near 1.6900
Janky Cup-n-Handle bounce breakout into down trend reversalThe pattern formation here isn't very strong, but manage your risks and shoot for the stars.
Pairs Trade Setup - Long HAR Short SGL Equities | Potential Pairs Trade Setup - Long HAR / Short SGL
- 9 April "gap" has been closed.
- Bullish divergence on RSI & Money Flow Index
HMY Short OpportunityIndicators all pointing down, nice short opportunity here. All tied up right now, so I can't take advantage.
$JSEHAR - Rectangle b/o (4hr & D)$JSEHAR - aided by the weakening USDZAR pair and a stronger Gold price
My TP is penciled @ 5780
HAR: look at that MACD bullish crossover!MACD bullish crossover close to the zero line.
Increasing positive technical score over the last couple of days.
Same direction strategy trade.
$JSEHAR - Small gap to fill.Harmony looking like it's headed towards support around 39.20 (which would also be a retest of the breakout)
$HMY:NYSE - HARMONY GOLD MINING - Running nicelyHarmony has been having a great run and looks good on all the indicators except the RSI which at 80 is pretty hot. Would be better to look for an entry when the RSI comes back to around 70 or so, but certainly worth adding to your watch lists if you are interested in Gold stocks.
Harmony Gold Mining Company Limited, through its subsidiaries, is engaged in gold mining and related activities, including exploration, extraction and processing. The Company's segments include South Africa Underground, Surface, and International. The South Africa Underground segment includes Kusasalethu, Doornkop, Phakisa, Tshepong, Masimong, Target 1, Bambanani, Joel, Unisel and Target 3. The Surface segment comprises the Company's other surface operations. The Company's International segment comprises Hidden Valley Project. The Company has operations in South Africa and Papua New Guinea (PNG). The Company's principal product is the Gold bullion. The Company's exploration projects include Golpu project and Kili Teke prospect. The Company has approximately nine underground mines, one open pit operation and several surface sources in South Africa. The Company's subsidiaries include Lydenburg Exploration Limited, Tswelopele Beneficiation Operation (TBO) and Harmony Copper Limited.
Harmony Gold - Trade Idea Short/Sell Harmony Gold (HAR):
Relative Strength Index Printing a bearish divergence from an overbought level
Extended 89% above it's 200-day moving average
Stochastic trading at an overbought level
Trading Levels:
Sell HAR at 5453c (or better)
Stop-loss: 5890c
Take Profit Target: 4750c
Top5 oversold/overbought according to RSIClose to a quarter of the total FTSE/JSE All Share Index companies currently trading at extreme oversold environment – trading under 30 according to its 14day RSI.
You would think that with all negativity surrounding Sasol over the past week, that it would find itself in the Top5 most “oversold” list - close but no cigar. Top5 most overbought still dominated by Gold miners.
FTSE/JSE All Share Top5 oversold/overbought according to 14day RSI indicator as follow:
Oversold:
JSE:TON 12
JSE:APN 17
JSE:DLT 18
JSE:RDF 20
JSE:ITU 21
Overbought:
JSE:PFG 89
JSE:HAR 68
JSE:PAN 67
JSE:LTE 66
JSE:ANG 65
