SUMMARY
Position: LONG | Upside target: R1 280.00 | Reward/risk ratio: –
Recommended stop-loss: R893.00
RECOMMENDATION: BUY
ANGLO AMERICAN PLATINUM (AMPLATS) IS ONE OF THE LEADING PRIMARY PRODUCERS OF PLATINUM GROUP METALS IN THE WORLD, WITH ITS PRODUCTION ACCOUNTING FOR A LARGE PROPORTION OF THE WORLD’S NEWLY MINED PLATINUM.
Technically, a price below the linear regression channel pattern makes the share an attractive investment opportunity (see the insert on the main chart).
A linear regression channel pattern is formed by plotting a trendline using the linear regression of a share’s closing prices, and then drawing parallel lines above and below the trendline. The upper parallel line is drawn by connecting the highest highs of the price…
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