We anticipate POSSIBLE SCENARIO: a positive break out of the symmetrical triangle, confirmed above 50 005c/share. This move should restore investor confidence and fuel a recovery through the 53 000c/share prior high – to the 59 230c/ puters. Last year, Europe had its worst year of car sales, yet demand for platinum stayed relatively f lat. This year, Europe should sign legislation to limit car emissions, untimely aggregating the need for more platinum in exhaust catalysts. With the rand slowly declining and the dollar appreciating, Amplats should benefit since it pays its costs in rand but sells its output in dollars. share upside target in the short term. Having breached the resistance trendline of its long-term bear trend, the monthly chart suggests that Amplats has potential to retest its 2009 prior high in the long term (one to two years) at 83 100c/share. Therefore, we recommend investors go long, or reload long positions above 50 005c/share.
Our bullALTERNATIVE SCENARIO: ish call would be defied below 45 000c/ share and Amplats could drop to the 35 775c/share downside target of its symmetrical triangle.
Anglo American Platinum