It's a moving average on the graphs. It's seen by the traders or investors as an important level. It's basically the average closing price for the share over the last 200 trading days. For DRD it stands on 560. On the SBK charts, where it's written SMA>> change it to EMA and on the left of it you will see the default setting in the edit is on 12. Just change it to 200 and the green line will adjust accordingly on the graph. With a rough estimate u can see it's 560.
Wizzard or any one else....this share also listed in the States. Should there be any correlation on price movements / sentiment between the two exchanges. DRD flat on JSE yesterday but down 8% in US. I guess what im trying to ask is would a strong close on the one relate to a strong open on the other?
It's the same share. Whatever happens there it will be reflected here otherwise from a theoretical point of view there will be arbitrage opportunities. If the market was open today the share was going to trade at 440.
Last couple of days i sold out of DRD and AFO,yesterday sold call warrants in ANG ,GFI,HAR....The gold price must be watched,when gold turns upwards on weakness of rescue plan and increases in price will be a play again!