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.
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 Street.com (Financial News and Services Website) the company’s stock was downgraded from the position of “HOLD” to “Sell”
