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[JSE:HAR] Harmony Gold Mining - Take Profit

5 September 2017 / Technical Takes Posted by: Barry Dumas
Harmony Gold Take Profit.png

Harmony Gold Take Profit.png

Update 05/09/2017

PROFITS - TARGET 1 REACHED ON HARMONY GOLD MINING COMPANY LIMITED

There we go Harmony, reaching target 1 and well on its way to reach target level 2 all thanks to the political uncertainty and the gold price soaring. It looks like the uncertainty will be going on for a while so I suspect the gold price will be moving higher and target 2 will be reached soon.

I also moved my stop loss to my entry level at 2551c so I am currently at break even, as soon as target 2 is reached I will move stop to target price 1 at 2692c.

 

Initial Trade Idea 30/08/2017

Harmony Gold.png

Source: Bloomberg

Technical take - Harmony Gold Mining Company Limited (HAR)

I will be looking to buy (long) Harmony Gold Mining Company Limited (HAR) today at a level of 2551c. It has broken through and closed above resistance 2495c which gives me a signal to place a trade. There might be some retracement in price before it moves higher so take caution.

Trade: Harmony Gold Mining Company Limited (HAR)

  • ENTRY Long (Buy): 2551c
  • STOP: 2340c
  • TARGET PRICE 1: 2692c
  • TARGET PRICE 2: 2858c

Always remember to apply your risk management measures before placing your trades as this will keep you trading in the markets.

Read more notes by Barry HERE.

 
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Barry Dumas | Trading Specialist at GT247.com
 

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