A director at AngloGold Ashanti bought 3,000 shares at 17.470USD and the significance rating of the trade was 55/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clea...
SPX 4165-4200 in Play; Breadth Improving In our 3/21/23 Compass we discussed the potential for a 2-5% rally to the 1.5-month downtrend on the S&P 500, or even the 4165-4200 range, which we noted would set up an opportunity to get more defensive. The S&P 500 has gained 4.5% since, but has reversed topside the downtrend, putting a test of 4165-4200 in play. We still believe 4165-4200 will cap upside in 2023 -- with a reach to 4300-4325 also possible -- but considering limited upside, we recommend...
What you need to know: • Gold had strong start to the year rising over $100/oz to $1928/oz in January. Copper also rose dramatically, rallying 12% to $4.20/lb • We anticipate 2023 to be a standout year for both precious metals and base metals and encourage investors to position themselves accordingly • Many central banks bought record levels of gold in January fuelling the price increase; gold takes hold as a safe-haven Sentiment Update As we anticipated from our December note, the mining se...
S&P 500, Nasdaq 100, DJIA Testing Support Large-cap indexes are approaching critical support levels, including 4257 on the S&P 500, $334 on the Nasdaq 100 (QQQ), and 33,250 on the Dow Jones Industrial Average. These are our "lines in the sand" moving forward. Our baseline expectation is for supports to hold, but breakdowns below these levels would not be surprising and would likely mean an additional 8-15% downside based on measured moves of their respective chart patterns... see chart below an...
Bullish Outlook Intact; Mining For Gold As highlighted in last week's U.S. Macro Vision, our outlook is now bullish as we saw the breakouts we needed in the Russell 2000 (IWM) and Industrials (XLI). Considering these breakouts along with ongoing healthy market dynamics, we continue to believe we have officially entered a new broad-based bull market. Materials Breaking Out To New Highs, Joins Other Cyclicals. Materials (XLB) is the latest Sector to break out to new 2021 highs, providing more ev...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
Round Trip Back To Resistance Our base case continues to be for near-term consolidation while the market determines the implications of states' reopening (i.e., the “wait-and-see†phase). Until this consolidation period resolves below support or above resistance we are maintaining a relatively neutral stance considering the wide range of outcomes. Below we highlight new developments which remain generally positive. Still, many major indexes are testing logical resistance and until we see br...
Buy Gold And The Gold Miners · Gold Price. The price of gold remains on bullish short- and long-term trajectories with the uptrend that began in 2018 still intact. Short-term, gold is holding above base support near $1680 and we see the 2011 highs of $1900 as an achievable target price in the coming months. · We believe gold miners are likely to benefit from continued higher gold prices. The VanEck Vectors Gold Miners ETF (GDX) depicts this opportunity, as current prices are of...
Market In “Wait-And-See†Phase We started to see waning upside momentum in the S&P 500 last week with the rising wedge breakdown and 2760 support level violation on Tuesday. Despite this, there was no downside follow through the following day as investors digested a new $484B fiscal relief package. This led to the S&P 500 finding support at 2725-2735 which leads us to where we are now -- testing recent highs. We see waning upside momentum and several aspects continue to suggest the S&P 500 ...
Weakening Dollar, Strengthening Commodities We continue to see increasingly more reasons to be bullish than not, and we believe the path of least resistance is higher for US equities. We also continue to recommend a “buy the dip†strategy. Below we outline new developments, including more signs that the US dollar is rolling over, bullish developments for gold & gold miners, and major breakouts for the Consumer Discretionary Sector. • Weak Dollar, Strong Commodity. The US dollar (DXY) con...
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