An­glo on the up

And Mve­laphanda Re­sources is look­ing bullish

Finweek English Edition - - Creating wealth - COLIN ABRAMS

THE JSE’S LARGEST STOCK – An­glo Amer­i­can – has given an im­por­tant break­out on its chart that all mar­ket par­tic­i­pants need to aware of. It sets up higher tar­gets, which are shown on its chart and dis­cussed be­low. We also look at the chart of Mve­laphanda Re­sources, which is also break­ing out of a large chart pat­tern. The An­glo chart is bullish – not only for An­glo’s own share price but by im­pli­ca­tion for the JSE as a whole, as An­glo has the largest weight­ing on the JSE’s top 40 in­dex. It’s a share to fo­cus on buy­ing, as is Mve­laphanda, which has bro­ken above an im­por­tant re­sis­tance level.

Please note: For more rec­om­men­da­tions and charts by the au­thor on shares, stock in­dices, and com­modi­ties, please go to www. the­mar­ket. co. za.

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