AngloGold Ashanti Limited (ADR) (NYSE:AU): Technical Analysis


Dallas, Texas 04/21/2014 (FINANCIALSTRENDS) –  AngloGold Ashanti Limited (ADR) (NYSE:AU) marginally gained on Thursday after closing the red for previous two days. The stock traded in a range of $17.62 on the upside and $17.25 on the lower side and consolidated at $17.46 to post a gain of 0.11%

AngloGold Ashanti Limited (ADR) (NYSE:AU) is rather trading in a very narrow range, the downward slide in the stock came as a result of company’s declining income and disappointing cash flow. The stock has been very volatile after it made healthy gains in the months on January and February.

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The stock closed just shy of its 50 day moving average of $17.66 and is comfortably above its 200 day moving average of $14.50. The stock has rather behaved in a volatile manner with no particular direction.

The momentum indicators for AngloGold Ashanti Limited (ADR) (NYSE:AU) on the daily charts portray a very neutral trend, the momentum indicator saw some upside in the last week but remained flat in this week with a slight downward indication, the relative strength index for the stock saw a little downside but remains flat, this indicates the stock may not have a prominent trend in any direction and may continue to trade in the same range.

According to the daily charts the first support level for the stock is around $15.39, the next support for the stock is around its 200 day moving average which is at $14.50. On a bullish note, the stock has a resistance around $19.16; a close above this level could open the window for its next target which is at $19.53 which is also its high on 14th March 2014.


(FIGURE): Daily Chart For AngloGold Ashanti Limited (ADR) (NYSE:AU)

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AngloGold Ashanti limited stock downgraded by The (Financial News and Services Website) the company’s stock was downgraded from the position of “HOLD” to “Sell”

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