Today we are going to be analysing Kumba Iron Ore.
This stock has recently broken through the 52 week high as shown by my custom 52 week high indicator.This shows a positive future outlook. Its has also broken through a major support area at 22,580. A close above this level will signal further bullish movement. There is minor resistance at 22,919, a break through that can potential take this stock to the next resistance level at 25,000.
The current price is also way above the 200 day moving average and the 50 day moving average is also above the 200 day moving average illustrating an up-trend.
This stock is looking extremely positive at the moment and it has potential for further upward movement.
Should you wish to set up your own custom stock screeners, click here to contact us.
*All information in this article is the authors opinion and is for educational purposes only. It does not constitute investment advice or a solicitation to buy or sell any financial instrument. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.