The ANO chart looks pretty bullish right now. Similar to mid-2003 when we got a spike low, then a sharp upthrust over the 200-day MA, a test or two of that line, then a prolonged uptrend that lasted for months and saw ANO go from the low $.30s to well over $3.00. I would be a buyer any time ANO tests the 200-day MA from now on. It looks to be forming an ascending triangle (bullish) and one more dip to the low $.90s would help to complete that chart pattern.
Hello ChiTrader: Am long ANO from .72 I agree with your chart assessment,am looking to add in the mid 90's. With platinum and palladium moving up their reserves are constantly gaining value. I would not want to be short ANO.
I'll admit the charts do look good for the moment!.....But the enire PM industry is in the process of correcting!....Nobody will ring a bell when this ANO move is over, will they?...So sell into this 'strength'?....And ye' shall be rewarded!