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Online Share Trading

Engage and learn about markets and trading online

IMP trading

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Tenor
Contributor
Whats up with Impala? It has almost been trading sideways in a Straight line for three days, when looking at 60,90,120 min Candle graphs. Any Ideas? Ive never seen n share trade this way.
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13 REPLIES 13
barry_1
Super Contributor
Lon came in with a surprising large loss today,also the platinum price has pulled back to about $1300 which is about $200 down....AMS has also gone down since Friday....On the positive side The Rand seems to be weakening for a change and there is definitely a longer term need for platinum.
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Tenor
Contributor
Thanks Barry , I noticed the decline in AMS. Does this mean that IMP will be unaffected by the losses? Or is it just waiting for a slight change in the value of the rand?
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jack12
Super Contributor
It is below the 200day MA, cant find any records of 3 doji,so I presume each one means major market indicision. All my charts are OK, but the ADX is below 30 and have a buy signal. AMS and IMP seem to trake each other lately AMS reacts quicker to the market changes. shorted IMP friday
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Tenor
Contributor
Also went short on Thursday according to my system , then saw 3 days of sideways trading. Still waiting for the movement to kick in. Is there a name for the formation that has just formed on the charts?
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jack12
Super Contributor
Bearish engulfment on 4 and 5th, 6th did not confirm. 7th evening star starting to form, again no confirmation on the 8th. 8th doji, market indicision 11th doji, market still undecided 14day ADX is a sell, sitting on 200d MA
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jack12
Super Contributor
will wait for the bull/bear confirmation today
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jack12
Super Contributor
Found a sign, Tri doji star, bearish signal
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Not applicable
Lonmin CEO was quoted some time ago as saying that platinum was in oversupply, and that the price was due to correct. More importantly, the rand strength is countering any gains in the platinum price, so I guess for shares such as Implats, this is bad news.
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barry_1
Super Contributor
me thinks its too late to go short this time,some of my signals show another up run in the offing,probably tomorrow....generally there is likely to be a pullback nearer end of the month,one reason s that Chrysler innner workings now shown to the public that they are hopelessly brankrupt,almost beyond chapter 11!....therefore thinking rest of car market cannot be far behind.
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barry_1
Super Contributor
the platinm price has just started to move up.
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r_n
Contributor
Hi Barry, where do you track the platinum price? thanks
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jack12
Super Contributor
type PLAT on the chart or add Indicator on the watchlist and select your choices or Key Market statistics, near the middle of the page, right hand side
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barry_1
Super Contributor
The price of platinum and Rand exchange controls platinum share prices,not the direction on a chart of a single share....I watch both CNN.commodities and on our key market statistics....as Cnn's prices are futures they are only updated around 8 pm nightly in america....if our local index is above this then the platinum price is rising or if its below then it falling on our local charts....by the way our chart tracks the price through out 24 hours....there are other indicators of related minerals which are difficult to explain why ,but help me decide whats going to happen to gold and platinum.if only i could show u in person!
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