Anglo American.....how much more?

Hi Ronnie,

Whilst checking out some Covered Warrants, I noted Soc Gen's take on A-A:

STRATEGY
Below 1780.65 p GBP ANGLO AMERICAN is evolving toward 1449.62 p GBP over the short term. The clearing of 1780.65 p GBP would invalidate this opinion and open the door for 1827.94 p GBP.

SUMMARY
The MACD is positive but lower than its signal line. The dynamic in progress has been interrupted. If the MACD were to turn negative, the price correction could continue. Powerful indicators like the RSI, are not giving us any particular indications in the short term. The Stochastics indicators are not giving any clear signals for the coming days. The volumes traded are more than the average volumes over the last 10 days.

MOVEMENTS AND LEVELS
The stock is positioned to the upside. It is above its 50-day moving average. The position of the 20-day moving average (higher than the 50-day moving average) means that this stock is reliable in the medium term. The first buy levels are on the supports situated at 1449.62 p GBP, then at 1402.33 p GBP; only the resistances, placed at 1733.36 p GBP, then at 1780.65 p GBP, could contain the prices.

I'm firmly on the fence with this one!

This is right near the trend-line, will it bounce?




dl.dropboxusercontent.com/u/4899609/anglo17thsept.png

Looks like my last chart was a little presumptious: what I was calling a possible wave 1 and 2 turn out to be a completion of waves iv and v and there's no guarantee this is the bottom.....so, wait and see and stop guessing
One ray of sunshine - divergence on the RSI

Having looked a little closer I see the low of 2/5/13 was a little lower than 18/4/13 ..... just; so this chart shows one possibility for coding the recent wave. Let's see what happens next week regarding the possible trade??

Ha! Ha! Well, it sure didn't bounce today

Sorry buys: been a bit busy all morning. Here's the chart....



I thought it had promise.....