Anglo American (AGL): Lower Risk Entry

Share price found support on a longer term trendline and has reversed upwards. It has now closed the breakaway gap. Expectation is for price to move upwards taking out resistance at R605 level. Above the upper trendline is the first point to take profit then wait for a re-entry when price breaks below the trendline that will form on dates 28 September and 7 October or 10 October.

Profit Target: +25%
Time in Holding: 30-35 days

Yorum:

AGL is close to take profit, best to do it at current level then wait for a resumption of uptrend after a brief pullback.

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