Harmony seems to be holding up nicely intraday at its daily support level of 10200. Would seem to be a pull back to what was previously a resistance level. Nice strong level going back to April 06. Will be interesting to see if fails to break this support today. To my mind HAR is looking good to go soon. Anyone else with thoughts on HAR?
Harmony , Harmony !!bit of a misnomer nothing harmonius about this . Think a small correction up to 103 odd then a reversal down to the late eighties. Can'nt understand esp with all saying gold should go through the roof !! Still up a wee bit o:)
In my opinion, one has to look at why you are buying a share. If you are holding for the long term (based on what you feel are solid fundamentals), then short term weakness shouldnt bother you. If you are trading, the trends and related indicators are all that concern you in the moment (possibly after taking into account fundamentals as a way of helping to pick a stock to trade on). In the case of HAR, on TA basis has been in a downward primary trend pretty much since beginning of year. It would seem that this may be turning back up, in a bottoming pattern, based on the MAs converging. That said, yday, broken back down through the 10200 support level, which now may become the resistance again. Today's close will be interesting to watch, and see if yday was a one day anomaly, or has formed a new trend below 10200. One very important thing to keep in mind (IMO again): for ANY trade, one has to accept that you may be incorrect, as the market presents so many variabls that influence whether there are more keen buyers than keen sellers. So why you may believe a previous pattern indicates a probability of a specific move direction, NOTHING is guaranteed, ever. So define the risk, decide that you are happy with that, if it is goes beyond that stop out. I will wait to see what happens today and in relation to my stop loss. any other thoughts?
What bugs me is that HAR is a share that you (sorry, I) trade, not invest in. I don't think it's a good long term investment, and therefore it works better to trade it a few days/weeks at a time. Given the above, I see we still can't short HARQ. Any reason for that? Simon? I'm sure liquidity isn't a problem??
i like to trade both gold and plat. but admittedly AMS has done much better things for me than GFI or HAR! much better. :) so still think better to be more weighted that side (plat). and i agree with other comment, HAR is a trading share for me, not long term investment.