Unum Capital Trade Alert: Impala Platinum (IMP)

Unum Capital Trade Alert: Impala Platinum (IMP)

Dear Trader

Following a stellar performance over the last six to twelve months, platinum shares appear to be in the early stages of a short term slowdown in upward momentum. Specifically, Impala Platinum is reflecting the following technical characteristics that suggest a short term bearish reversal is at hand.

–  Bearish engulfing candle for yesterday (12-03-2019)
–  Double top formation
–  A pending move of the Relative Strength Index ( RSI ) moving from overbought to oversold

– Stochastic in overbought territory
– A bearish cross of the MACD
– The price is extended well above it’s 200-day moving average (MA), with the price being 103% above the MA.

In addition, a gap at 5503c exists.

I am looking for a move back to 5350c (take profit target), with the entry (short/sell) at current levels (6040c) and a stop-loss of 6380c.

Please chat to the Unum Capital Trading Desk to take advantage of any trading opportunities.
All the best,
Lester Davids
Unum Trading Desk Analyst
e-mail: clientservices@unum.co.za
Tel: 011 384 2923

Leave a Reply

Your email address will not be published. Required fields are marked *