I'm not up to speed with pivot points. Yesterdays close above the 200SMA that it failed to break thru +- 6 times since July 2010 will probably see it testing the 2010 highs - provided the rand platinim price dooes not tank.
Just don't forget the time value of money. If you are following any kind of 2% / 6% of capital rule, and you are holding a stock that is stuck in a range, then for about 4 months now you will only have had 4% of capital to work with - since a portion of your capital that you are prepared to risk would have been tied up in a sideways trading stock.
So now she's on a PE of 40. PGM's trading at 2 year highs Rapidly increasing costs, stronger Rand, wage negotiations looming and power and water supply problems around the corner. Then there is the mining rights grab and legacy low return suppoert of the likes of Anooraq.
Well after a while away from the screens and freezing my rear off in Canada I am back to some actionable plotting. Ahh yes one of my favourites, seems we are heading for 780/795 mark but watch for a dip to 720/700. See you all on the low side in a couple of days then a stronger run-up to just under 800 again. Just checking my facts and will watch what outlines then jump into the waters again.