Anglo Asian Mining Plc Price: AAZ Is Regaining Energy, Hitting 80

PUBLISHED: 03 Dec 2023 @ 14:45 | Comments (0) | More info about Azeez Mustapha

The Anglo Asian Mining Plc stock company (LSE:AAZ) is currently seen to be regaining energy, hitting a resistance line around the point of 80.

According to the technical trade forecast, buyers should exercise caution before initiating another round of buying orders as the market’s gravitational velocity is steadily moving to the negative. Since the recent interception of the larger moving average line by its smaller component, it is still possible that rising pressures in the market only require a minor correction before pushing up sharply past its resistance level of 80. As a result, shareholders might still need to continue with the position-staking procedure.

Resistance Levels: 85, 95, 105
Support Levels: 60, 50, 40

Considering the stochastic oscillators’ position, should stock traders at AAZ Plc continue to follow the negative trend past the EMAs?
It would be psychologically inclined for long-position takers to allow the stochastic oscillators to get repositioned toward regaining a posture to signify that an uprising move is in the offing, as the price has hit resistance of 80.

A smaller bullish candlestick has taken up shape around the smaller moving average, indicating that buying pressure is present. The 15-day EMA indicator has crossed the 50-day EMA signal to the upside. The stochastic oscillators are comparatively in a south-crossing phase, indicating that bulls should exercise caution before committing to more lengthy positions.

Learn from market wizards: Books to take your trading to the next

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.