Anglogold Ashanti Limited gold related american stock buy opportunities with monthly demand level around $7.50 in control and creating new monthly and weekly demand zones after creating a very strong bullish impulse as a reaction to that imbalance.
New monthly and weekly demand levels created around $10.40 and $10 respectively. We cannot and should not sell short a stock if there are new demand levels being created, impulsive moves are now bullish eliminating supply levels, the bias should be longs at new demand levels.
We do not take into consideration any fundamental analysis, no earnings announcements or volume, we do not need any of that to make a trading decision based on supply and demand imbalances. We just need to know where those imbalances are located and what is the bigger picture trend on the stock.
You can also use various options strategies to take longs at demand imbalances, long calls, spreads or any other strategy that you might have on your trading plan.
Still if you want to pay attention to fundamental analysis of this stock, as reported by Bloomberg, AngloGold Ashanti Ltd. said full-year profit, excluding some one-time items, climbed more than sevenfold from 2017, after it shut and sold mines in South Africa and lowered amortization in Brazil.
Headline earnings for the period are expected to be between $207 million and $224 million, up from $27 million the previous year, the Johannesburg-based miner said in a statement on Monday.
No need to pay attention to fundamentals, in this case it is also helping the trading decisions to go long since the fundamentals also give us a bullish bias, but fundamentals will most of the time align against these imbalances preventing us from taking high probability trade setups.
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