Impala – Tactical Trading Levels – UnumCapital
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Impala – Tactical Trading Levels

Impala – Tactical Trading Levels

Impala Platinum (IMP) | Currently trading in a range, with the short term accumulation zone ranging from 9430c-9580c. Strong bounced off the 18 March lows of 4500c with the short term upside resistance ranging from 11200c-11600c. On an ultra short term basis, the aforementioned 9430c-9580c zone offers a buying zone. What I am also keeping in mind (on a medium term trading basis) is the potential for the downside ‘gap’ at 8789c before a fresh move higher and a break of the consolidation range (line A_B) which could trigger a re-test near the prior highs. The close of the ‘gap’ will also be a back-test of the breakout level (Line C_D).

Lester Davids

Lester joined Unum Capital in July 2016 and is a Trading Desk Analyst focusing on local (JSE) and global multi-asset class technical strategy and research which includes idea generation.

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