Resources

Technical Trade Note Glencore PLC [JSE:GLN] 15 May 2018

15 May 2018 / JSE Market Updates / Research Notes Posted by: Barry Dumas
Glencore-Technical-Trade-note

Technical trade note Glencore PLC (GLN) (15/05/2018)

Glencore PLC (GLN) is setting up for a buy if we can get a close above 6492c per share. The technical setup looks great and we can see an inverse head and shoulders pattern forming which is signalling a reverse in the price to the upside.

Full trade summary and chart below:

Trade: Glencore PLC (GLN)

  • Entry (Buy): Close above 6542c
  • Stop loss: 6076c
  • Target price: 7025c

Screen Shot 2018-05-15 at 15.35.05

 Source: Bloomberg

 

gt247 Partnership Affiliate Program

Disclaimer: Any opinions, news, research, analyses, prices, or other information contained within this research is provided as general market commentary, and does not constitute investment advice. GT247.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The content contained within is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
SEARCH ALL RESEARCH
SEARCH POSTS BY AUTHOR

Online trading
made easy.

Start Trading Today

CFDs are complex, leveraged products. Trading CFDs is high risk and losses could far exceed your initial capital input. Please ensure you fully understand the risks with trading CFDs before considering this form of trading.

GT247.com is a product of EasyTrader (Pty) Ltd t/a GT247.com (registration number 2017/190488/07), which is a licensed over-the-counter derivatives provider (ODP43) and a juristic representative of the Purple Group Ltd which is an authorised financial services provider (FSP46315).

In respect of foreign over-the-counter derivatives, we may, in our capacity as a juristic representative of Purple Group, introduce you to foreign over-the-counter derivatives providers.

All trades on the trading platform are subject to the legal terms and conditions to which you agree to be bound.

The information on this website is not directed at residents outside of South Africa and is not intended for distribution to or use by any person in any particular country or jurisdiction where such distribution or use would be contrary to local laws or regulations. GT247.com does not market its services to persons that reside outside of South Africa.
© 2024 GT247.com