Absa Capital says, "Harmony: Gaining on Anglogold Ashanti - The RS line showing the relative performance of Harmony versus Anglogold Ashanti is respecting medium-term support. We are reviewing our underweight recommendation in Harmony, posted last week (see Pair Trading, 07 May 2009). Harmony's share price has broken above the range high at R89, opening up further bullish potential to R100/R105 in the short term (in line with the previous recommendation). However, Anglogold Ashanti has yet to close above its range high at R320, implying that the share price is starting to lag Harmony. As such, we recommend closing the underweight position in Harmony relative to Anglogold Ashanti."
k thanks for that. I haven't been following ang like gfi / har. Rather stick to what I been watching for a while now. I see tomorrows resistance 102 - 105. Should be another very good day for gold. +/- up 5% for my call tomorrow.
Guys, I know everyones eyes are on the VOD listing, but has anyone looked at this share and does anyone see any further weakness to buy into for the upswing after the attention and dazzle settles on VOD?
Yeah I am. I am still in, there is still money to be made - My target is 115. We might see a gold pull back to 907, so keep your eyes on that. Otherwise chances are Harmony can pull back to 86 - 88 as its under 90 again. Otherwise it's consolidating, gold needs to build up steam to break 936 - that happens then we test high 900s then 1000 quite quick.