Unum Capital Trade Idea: Anglogold Ashanti

Unum Capital Trade Idea: Anglogold Ashanti

Dear Trader
Anglogold Ashanti (ANG) has offered attractive short term trading opportunities, with the average holding period on the long and short side being around 7-9 trading sessions with an average move of roughly 8-10%, ungeared. Next, I am looking to have both sides covered I order for traders to take advantage of either opportunity that arises.
On the long/buy side, the lower boundary of the channel at 17245c/17350c offers an opportunity for traders to accumulate the share, using a stop-loss of 16910c and a take profit target of 18320c.
On the sell/short side, a push back above 18940c is an opportunity to take a position, using a stop-loss of 19320c and take profit target of 17790c.
Based on the share’s offshore (NY) ADR listing as well as the Rand (at the time of writing), we should see the share open at 18364c ($13.08 x R14.04).  
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

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