$JSEAMS Within touching distance of all time highs

18 дек. 2019 г.

After touching a low of R156 in January 2016, the stock is up by a whopping 791%!! (current price : R1390) The last time the RSI reached these levels of 90 on the monthly chart back in Jun - August 2017, we saw the stock retrace almost R500 in 3 months!! While i am not suggesting that history repeats itself, i am merely advising caution at chasing Anglo Plats as the stock is getting extremely overbought and it is within touching distance of the previous all time highs which was tagged in May 2018 (R1438.63). Momentum is on it's side, but as we saw in 2007, when the stock eventually corrects, they are usually quite quick & aggressive, and you don't want to get caught on the wrong side of that!