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Peak or not

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Hempiz
New Contributor
ANG - up 50% in 3 months. do you think it hit its peak or not
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6 REPLIES 6
Super Contributor
next target R230, stop loss R180
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Highlighted
Super Contributor
Just getting started but, it is going to be a bumpy ride.
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Not applicable
I think that the market in general has bet quite hard on a gold rice rally. Gold is up 11% whereas ANG is up 70% from its lows. If you look at the research reports - break-even for ANG is around $1100 per ounce - whereas 180 moving average for gold is finally starting to tick upwards at $1300 per ounce. SO an upward move in the gold price now, has an exponential effect on ANG (and other gold miners) revenues.
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DaveW
Contributor
Quote.... "AngloGold Ashanti Limited (NYSE:AU) was downgraded by equities research analysts at UBS AG from a “neutral” rating to a “sell” rating in a research note issued to investors on Tuesday,TheFlyOnTheWall.com reports" I tend to agree. The sector is ready to blow off some steam. The narrow range trading up and down seen during the US trading day and again this morning here, looks a lot like computers swapping long positions for short positions. But then that is my 20c and I am just a novice
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DaveW
Contributor
Correction should have run it's course for gold now. Massive support for gold around 1330 mark, by the looks of things. Risk is still on though... Likely to remain more or less flat for a few days then likely a slow up back to 1370 for month end... Or is this just wishful thinking? What do the experts say?
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DaveW
Contributor
Correction should have run it's course for gold now. Massive support for gold around 1330 mark, by the looks of things. Risk is still on though... Likely to remain more or less flat for a few days then likely a slow up back to 1370 for month end... Or is this just wishful thinking? What do the experts say?
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